We have written repeatedly in the Greek press that the concentration of illegal foreign workers in central town places, is a dangerous development. Our 3 years and more recent articles, pointed this worrying situation with particular reference to the Pafos area, where ex-Pontiacs (Russian Greeks) are concentrated, for Larnaca town at the St. Lazaros church locality (where most Syrians, Iranians are concentrated) and Nicosia in the old city, where is the hub of Pakistanis and others.
It seems that foreign workers who are here illegally (some politicians say that the illegal immigrant subject, is the policy of Turkey to cause the Cyprus Government trouble, since 70% of these immigrants come from Turkey and the occupied areas) do not wish to make an effort to adapt with the local culture. The Nicosia Mayor has taken steps to evict these people from the runned down buildings in the old city and of course they have moved in the more modern residential areas, occupying a single apartment in numbers of anything around 5-10 people. Thus, the apartment building in such cases is automatically damaged in value, as is, by proportion, whole neighborhoods. The tenants, being illegal, behave well and they pay their rent. Sometimes the rent charged is 50% more than the market rate, hence the problem (the locals being greedy are a lot to blame, but then, where are the foreign workers, be it illegal, going to stay?.
A difficult situation all round, since these illegal immigrants do not get a handout from the Government and resort to crime (60% of the prison residents are foreign), drag trafficking, prostitution etc. As if all these are not enough, our Minister of the Interior, who is well known for his support for the protection of human rights, give them some support (see his instructions to the police not to embark in raids etc) which makes the situation worse. The recent Larnaca town troubles, are the tip of the iceberg (they have asked for St. Lazaros church bells not to be used because it disturbs their sleep and this from a church which is the pride of Larnaca and one of the oldest/historic churches in Cyprus).
The situation is not going to go away unless it is addressed. The new approach of illegal immigrants to declare themselves political refugees (with the help of local traffickers and solicitors) is an additional problem, since this class of illegal immigrants destroy/hide their papers so they cannot be sent back. This political refugees get a monthly handout of approximately €500/person.
That was all well and good prior to the 2009 recession, but now that local people are out of work and with local social security payments running out, there is a hostile feeling why the Cyprus Government should be paying over €5.0 mil. p.a. for the immigrants, an amount which it should go towards their unemployment benefits by increasing their benefits (with 7% unemployment and rising, the situation could become even more serious). This state of affairs will inevitably affect the real estate market for those localities where there is such a concentration. The Protaras locality as an example where Roma people "reside" (in the Kapparis area), much to the objection of the locals and Nicosia holiday home owners. Of course the situation is not unique in Cyprus, but it affects property values.
So when buying property, watch out and in your considerations bear in mind the above in terms of emigrant population (we understand that the Pafos Police keeps away from the Pontiac area at K. Pafos!! - where the apartments have a value of 1/3rd of the price at their best in relation to non-affected apartments. So do not get carried away by the low prices and check this parameter as well.
The situation is a worldwide problem with the Hispanics in the U.S., the Arabs and Africans in France, the Roma in Italy and all sorts of immigrants in the U.K. Denmark and Germany have a similar problem with the Turkish immigrants etc etc.
As an indication we have recorded the following reduction in prices eminating from this cause:
Pafos - 30% less
Larnaca - 15% less
Paralimni - 15%-20%
Nicosia - 25%
Limassol - No clear reduction indicated
What a mess our dear readers. The title deeds problem, the mortgages, the recession in the real estate industry and other, we now have to worry about this situation as well.
It seems that foreign workers who are here illegally (some politicians say that the illegal immigrant subject, is the policy of Turkey to cause the Cyprus Government trouble, since 70% of these immigrants come from Turkey and the occupied areas) do not wish to make an effort to adapt with the local culture. The Nicosia Mayor has taken steps to evict these people from the runned down buildings in the old city and of course they have moved in the more modern residential areas, occupying a single apartment in numbers of anything around 5-10 people. Thus, the apartment building in such cases is automatically damaged in value, as is, by proportion, whole neighborhoods. The tenants, being illegal, behave well and they pay their rent. Sometimes the rent charged is 50% more than the market rate, hence the problem (the locals being greedy are a lot to blame, but then, where are the foreign workers, be it illegal, going to stay?.
A difficult situation all round, since these illegal immigrants do not get a handout from the Government and resort to crime (60% of the prison residents are foreign), drag trafficking, prostitution etc. As if all these are not enough, our Minister of the Interior, who is well known for his support for the protection of human rights, give them some support (see his instructions to the police not to embark in raids etc) which makes the situation worse. The recent Larnaca town troubles, are the tip of the iceberg (they have asked for St. Lazaros church bells not to be used because it disturbs their sleep and this from a church which is the pride of Larnaca and one of the oldest/historic churches in Cyprus).
The situation is not going to go away unless it is addressed. The new approach of illegal immigrants to declare themselves political refugees (with the help of local traffickers and solicitors) is an additional problem, since this class of illegal immigrants destroy/hide their papers so they cannot be sent back. This political refugees get a monthly handout of approximately €500/person.
That was all well and good prior to the 2009 recession, but now that local people are out of work and with local social security payments running out, there is a hostile feeling why the Cyprus Government should be paying over €5.0 mil. p.a. for the immigrants, an amount which it should go towards their unemployment benefits by increasing their benefits (with 7% unemployment and rising, the situation could become even more serious). This state of affairs will inevitably affect the real estate market for those localities where there is such a concentration. The Protaras locality as an example where Roma people "reside" (in the Kapparis area), much to the objection of the locals and Nicosia holiday home owners. Of course the situation is not unique in Cyprus, but it affects property values.
So when buying property, watch out and in your considerations bear in mind the above in terms of emigrant population (we understand that the Pafos Police keeps away from the Pontiac area at K. Pafos!! - where the apartments have a value of 1/3rd of the price at their best in relation to non-affected apartments. So do not get carried away by the low prices and check this parameter as well.
The situation is a worldwide problem with the Hispanics in the U.S., the Arabs and Africans in France, the Roma in Italy and all sorts of immigrants in the U.K. Denmark and Germany have a similar problem with the Turkish immigrants etc etc.
As an indication we have recorded the following reduction in prices eminating from this cause:
Pafos - 30% less
Larnaca - 15% less
Paralimni - 15%-20%
Nicosia - 25%
Limassol - No clear reduction indicated
What a mess our dear readers. The title deeds problem, the mortgages, the recession in the real estate industry and other, we now have to worry about this situation as well.
0 comments:
Post a Comment