Cyprus Resales Direct Featured in Sunday Mail

The following article appeared in the Cyprus Sunday Mail on the 11th December 2006:

A group of British expats are in he process of launching a property website that will revolutionise property sales in Cyprus. Cyprus Resales Direct.com are about to launch a website that it claims will be little short of a tsunami on local agents and property marketing companies.

As has been well documented, Cypriot based estate agents, registered or otherwise, charge extortionate commission rates on successful introductions. These can be as high as 10 per cent. The normal rate for a property sale on the island is 5 per cent compared to 2 per cent multiple agency rates in the UK.

Not only that, property marketing companies on the island, which are little more han unlicensed estate agents using a legal loophole to operate, often charge the same 5 per cent for the successful 'marketing' of properties. The most well known of these has successfully fought off a number of court cases on the island, hence this form of property sales is here to stay.

"Following extensive research of he property market here in Cyprus, we came to the conclusion that properties could be successfully marketed here and overseas through a website for as little as CYP180" said a media spokesperson for Cyprus Resales Direct.com.

"This is especially true of resale properties, the poor relation in the local market compared to new-builds, which property developers often pre-sell. And when you consider how many people are sold a property here with minimal local knowledge and then decide to sell up and move elsewhere on he island, the demand for strong resale property marketing is huge" he added.

"We are neither estate agents, nor a property marketing company, Cyprus Resales Direct.com provides both buyers and sellers with the marketing facilities and tools to assist hem in property sales and acquisitions at a competitive price. This includes a website, boards, extensive advertising in local, national and international media as well as a magazine with an initial circulation of 10,000 copies" explained the spokesperson.

Whether Cyprus Resales Direct.com will successfully revolutionise the local property market is yet to be seen. However, you have been informed!