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I’d agree about Cyprus to some extent having also had a near miss with property there. I later found out that the corruption amongst Cypriot Developers, lawyers and even their Land Registry was higher than Spain’s because it was so incestuous and condensed.
That was a boom property market like Spain’s and Brits flocked there mainly because it was English speaking, they drove on the left, taxation was lower, etc. We also know several Brits there who cannot sell, the market crashed like Spain’s and they’re stuck.
Many of their developers/builders turned out to be crooks, went on the run for GBH threats and fraud to buyers. As Costacraver says, they still have this North/South problem, and recently they applied for a bailout too. 🙄