Why Live in Cyprus? 
Do you want to enjoy more than 340 days of sunshine per year and where the people are as warm and welcoming as the climate?

A place which has the lowest crime rate in Europe and where residents still leave cars and houses unlocked?

Where you can have easy access to and from the UK, enjoy a high standard of living at a lower cost than the UK and have access to a very high standards of healthcare?

Welcome to Cyprus, an idylic island in the Mediterranean that offers you all this and more!

With recent entry into the EU and the planned adoption of the Euro in January 2008, the investment in Cyprus infrastructure and growing popularity of Cyprus as an all year round destination has resulted in Cyprus becoming one of the fastest growing property markets in Europe. Property prices remain very low compared with the UK and Spain, and Cyprus offers attractive tax benefits, including tax on pensions at a low rate of 5% on income amounts that exceed CY£2,000.

The Cypriot people are well known for their warm and hospitable nature, especially toward the British, and Cyprus has also embraced the British legal, land registration and banking system, making it easier to do business.

Investment in the infrastructure continues, and future plans include:

3 new marinas, including a new state of the art 1,000-berth luxury marina is to be built near Coral Bay (Paphos).

Cyprus already boasts 3 golf courses including the internationally acclaimed Aphrodite’s Hills complex. There are an additional 10 courses in plan across the island including numerous PGA standard championship courses.

A rejuvenation project for the old Paphos harbour and major beach improvements, with the pedestrianisation from the harbour through to Geroskipou.

The Cypriot Government is investing heavily in the region with refurbishments and additional terminals to both Paphos and Larnaca International Airports which are due to be completed in 2008, which will enable the airports to have the facilities to cater for 2.7 million passengers per annum.

A very first for Cyprus, and one of the largest in the world, is the plan for a $1 billion mixed-use development, consisting of a 250 acre site which will be known as ‘Neapolis’. It will include a new hospital, private university, research and development centre, international business centre and office park, plus cultural and leisure facilities including theatres and sports grounds.

A new motorway linking Paphos International Airport to Polis is due to commence soon, and this will significantly reduce the travel time to this part of the region as well as attracting increased levels of visitors and residents.

Lifestyle

Making the move to Cyprus could not be easier! 90% of the population speak English, road signs are typically in both languages, they drive on the left like the UK and the modern and efficient legal system is based on British system, which makes buying a property in Cyprus relatively painfree.

What you also get is over 340 days of sunshine, a much lower cost of living than the UK, 3 major golf courses in the Paphos region alone with 10 more planned in Cyprus, excellent low cost healthcare, outstanding levels of education, lower property prices than the UK and Spain and the lowest crime rate in Europe.


Health

Unlike some Mediterranean countries, Cyprus offers a very high standard of healthcare. It has been successful in eliminating common infections and parasitic diseases, and the level of morbidity resembles that of developed industrial nations.

All Cypriot doctors have qualified abroad; most in the UK or other major European countries. Healthcare in Cyprus is inexpensive, and as a British citizen in possession of a form E111, you are entitled to free healthcare under the European Union reciprocal agreements. In addition, each town has its own Government Hospital and numerous private clinics and hospitals with competent specialists in all fields. Paphos General Hospital is equipped with the latest medical technology and surgical apparatus.

Hospital visits cost less than CY£7.00; a prescription costs less than CY£4.00 and private visits to a doctor will cost about CY£10-15.00.


Education

Education in Cyprus is excellent. It is available to all residents, and children can attend Greek or international schools. Children can also be educated through pre-primary and primary schooling, secondary general and secondary technical/vocational schools and third level institutions, with English speaking primary and secondary schools in all towns.

There is a Greek speaking university and a number of English speaking third level institutions which are linked with UK and USA universities. A new university is planned in the Paphos area as part of on going developments.


Language

Greek is the official language in Cyprus, however, English is spoken by over 90% of the population, and all road signs and restaurant menus are written in both languages. Knowledge of French, German and Russian is also increasing within the tourism industry.


Currency Infomation

The official currency in Cyprus is the Cyprus Pound which is divided into 100 cents. The current rate of exchange is approximately 0.84 £ UK to one £CYP, however, Cyprus is adopting the Euro in 2008 as part of it’s entry in to the EU.


Culture

Cypriots are very proud of their cultural heritage which stretches back more than 9000 years. However, today Cyprus is more concerned with the events of the last 30 years than those of a millennium ago; Northern Cyprus is focused on recreating itself in the image of Turkey, since the war in Cyprus 30 years ago, whilst the Republic (Southern Cyprus) is also trying to create an independent identity.

Cyprus has many reminders of the island's history, with relics from every era; Greek temples, Roman mosaics and 15th century frescoes. Like everything else in Cyprus, religion is split along the Green Line. Northerners are mostly Sunni Muslim, with southerners Greek Orthodox. Food too is reflected in the divide with mostly Turkish cuisine in the north and Greek in the Republic. Wherever you are in Cyprus however, you will find Kleftiko (oven-baked lamb) and mezedes (dips, salads and other appetizers).

Cyprus is also rich in fruit, which the government protects with a ban on imported products. Fresh fruits includes strawberries, stone fruit, melons, citrus and grapes.


Crime Rate

Crime is virtually unheard of in Cyprus, an aspect of life on the island which surprises and reassures visitors. This is another factor which makes Cyprus a popular destination for foreign buyers; the crime rate in Cyprus is approximately 6% of the UK and other European destinations.

Interesting facts

The island population is 83.7% Greek Cypriots, 12.3% Turkish Cypriots, 3.0% Foreign residents and 1.0% other nationalities. The official spoken languages in Cyprus are Greek and Turkish.

Its always good to note the Public Holidays as Banks and Shopping Areas are usually closed. Most Holidays have special events to mark the day, further information is listed under Events.


Electricity Current - Voltage

The electricity supply in Cyprus is 240 volts, a.c. 50Hz. Sockets are usually 13 amp, square pin in most buildings. More than one low current rating appliance may be operated from the same supply point, by using an adapter. The use of adapters for operating high current rating appliances. Many hotels provide adapters upon request from the reception, they can also be purchased from supermarkets.


Hitch Hiking

Hitch Hiking is not restricted in Cyprus, but certainly is not one of the regular means of transportation. Such means of transportation can be tiresome in the hot summer months, but may turn out to be a great pleasure as Cypriot hospitality is legendary, and hikers will certainly experience the friendliness and simplicity of Cypriots, especially among the village folk.

Hikers are advised to wear sunhats and sunglasses in summer, while waiting for their free ride. Hitch-Hikers should always remember to keep to the left-hand side of the road, as driving in Cyprus moves on the left

Cost of Living

The relatively low cost of living is one of the reasons why Cyprus appeals to many people wishing to buy property abroad; whether buying a retirement property, or a holiday villa or apartment.

Eating out, supermarket shopping and general services compare favorably to the prices in the UK and other European destinations, and Cyprus offers an excellent variety of fresh, inexpensive fruit, vegetables, meat and fish.

The wines and spirits of Cyprus are excellent and very reasonably priced, with Cyprus sherry, the aperitif Ouzo, locally produced brandy and beers widely available. Cigarettes cost from around CY£1.35 for a packet of 20.

Cyprus enjoys a high standard of living comparable to the UK (which is the 16th most expensive country to live in) but is ranked 49th out of 144 cities monitored in 2004. This makes Cyprus a very attractive proposition, not only for a lifestyle change move but also for a wise capital growth investment.

Other great benefits to living in or retiring to Cyprus:

The climate makes the island one of the healthiest places in the world to live with 340 days of bright sunshine per year.

The general price level of property remains very low compared to the UK or even Spain
Cyprus offers attractive tax benefits, including tax on pensions where the rate is 5% on income amounts that exceed CY£20,000

There is easy access to and from the UK, Europe and other destinations with over 30 major airlines servicing the two main international airports in Paphos and Larnaca, both of which will undergo extensive redevelopment soon to accommodate 2.7 million passengers per annum

Experience excellent inexpensive medical facilities, with the additional of a new hospital near Paphos planned

Vehicles drive on the left, as in the UK and road signs are in Cypriot and English
The legal, accounting and banking services are based on British practices and are both modern and efficient

Cyprus offers excellent educational facilities for all ages, with a new University planned as part of a new 250 acre development

There is a good road infrastructure, with 4 lane motorways connecting all towns and international airports


Emergency

The Police, Fire Brigade and Emergency Medical Service operating from a telephone the number is: 199 

With its typically Mediterranean climate, Cyprus delights in one of the most agreeable climates in Europe, with over 340 days of brilliant sunshine.  The warm, dry summers lead into a pleasant autumn, with the mild winter months shortened by an delightful spring.

During the 6 summer months Cyprus enjoys 11.5 hours of sunshine per day, whilst the cooler months of December and January still benefit from 6.5 hours of sunshine, with temperatures averaging a comfortable 10 – 15 degrees C.

Whilst snow is very rare on the central plain and coastal areas of Cyprus, there is snowfall every year between December and March in areas over 1000m above sea level.  The higher slopes of the Troodos mountains offer good skiing conditions for approximately six weeks a year, making Cyprus an idyllic island for everyone all year round.

What effect will Cyprus being in EU have on buying property?
From 1st May 2004 Cyprus formally joined the EU; this was a major milestone for Cyprus with many benefits. We had already seen property prices rise in anticipation of EU entry, however, there has been a sizeable increase in people looking to buy in Cyprus since joining ? especially the British. EU citizens will have the automatic right to work on the island & social security & other benefits will be transferable as between other EU states.
Is buying to let a good option in Cyprus at the moment?
Yes. There is strong seasonal market for short term lets, i.e. the summer months. The Cyprus summer is also a long one & due to the many golf courses Cyprus is virtually becoming a year round resort. Also due to Cyprus having many British Army personnel, long term lets are also in high demand. The high increase in people relocating here longer term, lets are needed to house these people while their villa is being built. Cyprus is likely to become even more popular as a holiday destination, as flights from northern Europe have fallen in price this year leading to an even stronger letting market. 

What are the benefits of investing in Cyprus?
Many people, maybe yourself have suffered in the stock market, pension funds etc in recent years. Cash is secure ? but returns are low. So, firstly, property is attractive in general. Secondly, in Europe Cyprus is unquestionably right now one of the very best places to invest in property. The main factor behind this is Cyprus's entry into the EU. The capital value of your property is likely to rise considerably over the next few years. Also rental returns are strong & likely to improve which makes a property investment in Cyprus even more attractive.

What kind of return can I expect for my investment?
That's difficult to answer as it depends on specific property, on location & on timing, when you buy & when you sell. As a rough guide we would say clients should expect 15- 25% gains annually over the next 5 years, & that's being conservative.

IE a CY£100,000 property in 5 years should reach in excess of CY£200,000. Also the 'gearing effect' of buying with a mortgage could realise a much higher percentage return on your capital investment. While there are no guarantees in life, Cyprus property offers a highly attractive opportunity.

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