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I agree with your comment, as there is a factor that increases the cost in the cities where developers live in. Bringing up Limassol though, is not a valid arg
by muse900 10y ago
I agree with your comment, as there is a factor that increases the cost in the cities where developers live in.
Bringing up Limassol though, is not a valid argument. Limassol on its own has had a lot of rich people from Russia moving there permanently and in the past few years a lot of development went on there. The Marina or the pier etc makes it feel like you are in Miami of some sorts, so that definitely bumps the prices up and it has nothing to do with developers going there. Most rich people there didn't make money from tech but from illegal sources.
- anovikov 10y agoThese people have been there since decades ago, early 1990s, and not much new ones arrived recently apart from developers. Large scale corruptioners you mentioned definitely don't increase prices on cheap rental apartments.
- muse900 10y agoThe development of the area in general is though. Limassol 5 years ago is no where near to what Limassol Now has become. And that has nothing to do with Tech/Dev's moving to the area.
- anovikov 10y agoWell, 5 years ago it was in the middle of crisis, but 10 years ago it was way richer and better place than it is now, i don't know what development do you mean. Then, Brits left, real estate prices collapsed, and it became much worse. It's easy to see that Cyprus GDP is now lower (both nominal and real terms) than 10 years ago.