Different camps of thought put forward positive or negative factors regarding the economy and the real estate sector in Cyprus, only to serve their purposes and designs.
Cypriot buyer psychology is affected and buyers are trapped in doubt by the ever-changing composition and dynamism of these factors in the media.
Flipping through the pages of newspapers you catch yourself reading about the same story and understanding different things. It is as if one newspaper paints the story in blue and the other in red, the result being that buyer psychology is painted solid black.
Based on political party plans, especially just before elections, all is up for gambling in the casino of votes. The good of the economy is not to anybody’s interest. Populism and party patriotism reign supreme. Notions like unemployment and standard of life concern nobody.
All these realities discourage potential buyers who keep changing their mind, expecting a stabilisation of the status quo. It seems that politics and the economy are indeed adjoining vessels.
We will list the factors which play a positive role in the thinking of Cypriot buyers:
Over-emphasizing the factors below affects buyer psychology negatively leading them to avoid any property transactions:
Both the positive and negative factors playing in the media on a daily basis put a hold on potential Cypriot buyers, who have both the will and the cash to back it up.
They shop around but never go the distance. Who can blame them?
By: George Mouskides
Director FOX Smart Estate Agency
Chairman Cyprus Association of Property Owners (ΚΣΙΑ)
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