Paphos People

As you may know w e are planning to come over to Cyprus in just over a year to rent with the hope of buying. To do this we have to sell here eventually. Our intention was to give our 2 adult kids who still live with us a deposit to help them get on the property ladder.
Well forget £10,000 deposit, they are gonna be needing nearer £20,000/£25,000 each.
Thanks very much. That's all.
No it isn't, cos 12 months ago I was thinking I had a house valued at £250,000 and was giving both kids £10,000 each. Now I have a house valued at £200,000 and I will be giving the kids £25,000 each.
Yes that's an £80,000 loss to me. Just a sobering thought that I thought I would share with you.
Gary

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So close yet so far away

To rub salt into the wound, this time last year your 200k Sterling would have bought you around 290,000 Euros - as of today you would only be getting 234,000.....

Was watching a program the other night about UK property prices long term, and they reckoned right now you would be far better investing your deposit money elsewhere and renting - seems it will be several years before prices get back to the levels we've seen recently.

Thank You Martin.
Gary

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So close yet so far away