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Cyprus Property News

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We give sharp, insightful comments on issues affecting the Cypriot property market. No nonsense reflection of current events and market trends as well as news on property tax and general legalization changes in Cyprus.

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Cyprus Property News

Our estate agency does not advertise overpriced properties. Rightmove highlights why.

Date: 21/02/17

We actively encourage all our vendors to advertise their property at a realistic price recommended by our agency from the very start.

While other agents ask, “How much do you want?” we provide accurate free of charge valuations based on other properties sold in your area. 

Industry heavyweight Rightmove highlights in statistical terms what we have been preaching to sellers of Cyprus property for years.

Miles Shipside, Rightmove director, points out that buyers are now far more price sensitive than ever before. “The majority of the market is price sensitive with most agents we surveyed reporting that possible buyers are reluctant to enquire about a property just a few percent too high in price. Some sellers may have thought there is no price to pay by starting high and reducing the asking price later. However, our extensive tracking of properties that have found a buyer shows that a property should substantially out-perform the level of interest in similar properties in the local area during the first three weeks of marketing to minimize the risk of being left on the shelf. Over-pricing loses you that vital initial interest and impetus, and buyers often have reservations about a property that has not sold as quickly as others.”

We fully support this conclusion. It is very dangerous to be caught in a never ending spiral of price reductions. As your asking price gets closer and closer to the actual market value potential buyers are wondering how much lower they can bid. Get an expert valuation, price your property correctly and receive pre-qualified viewings from the start. With a professional listing from “Cyprus Resales” your property will sell fast.

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