Property prices in Cyprus and Spain

Sir,
Mr David Roach of Paphos wrote letter published on September 15 in which
he stated that a house buyer could get more for his money in Cyprus than in
Spain in terms of value for money. While he does not define what he means by
”value for money”, I would respectfully beg to disagree with his basic premise.
Last month I bought an old stone village house in the south of Spain, after
spending the better part of four years studying the market there. The price
was a steal. Even after renovation, I don’t expect to spend more than 70,000
euros (around £40,000) for a two-storey, five-bed, one-and-a-half- bathroom house
with not only a fireplace but also a bread oven. Admittedly, there is no
property, much less a pool, but try to do that in Cyprus.

I would say that, as a rule of thumb, you could take just about any house
price in Cyprus and find the same type property in Spain for the same amount – except that the price would be denominated in euros, not pounds.

Albion Land, Strovolos

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