At last, the eagerly anticipated Agia Napa Marina has been given the go ahead. The agreement to proceed with the development was made between the Ministry of Trade and the M.M.Macronisos Marina LTD back in April. The Marina, which is set to cost close to €220million, will be made up of residential, commercial, recreational and [...]
Owners of property in Cyprus who live in the south of England will welcome Ryanair’s introduction of six new, year-round flights to Paphos from London Stansted. The new route will operate four times a week from London Stansted to the popular Cypriot holiday destination on Tuesday, Wednesday, Thursday and Sunday. Lucie Robson, writer of the [...]
For many, the idea of moving abroad can be tainted by the fear of becoming homesick. Moving out of your comfort zone and away from your friends and family might even stop you from making the life change you so desire and that is a real shame. Fear not, there may be light at the [...]
The three largest banks in Cyprus; Popular Bank, The Hellenic Bank and The Bank of Cyprus, have announced this week that they will be undertaking “dramatic measures” in order to generate capital to recover losses obtained during the Greek sovereign debt crisis. The three banks plan to regenerate funds by selling non-core assets and distressed [...]
According to the Royal Institution of Chartered Surveyors - Cyprus (RICS Cyprus), property prices fell on the island in the fourth quarter of 2011 with Limassol and Paralimni being the hardest-hit areas. Prices of apartments and houses fell quarterly 1.3 per cent and 1.6 per cent respectively. However, rental values for apartments island-wide rose slightly [...]
Cypriot banks traditionally have been cautious lenders. However, over the last year or so the economic crisis has caught up with them and had a negative effect on lending. Three Cypriot banks - Bank of Cyprus, Marfin Popular Bank and Hellenic Bank – have been heavily exposed to Greek Government Bonds. The Bank of [...]
The Overseas Guides Company helps readers with their questions about buying and living in Cyprus. If you need a question answering, email Cyprus@overseasguidescompany.com When we switch on the TV at our apartment in Cyprus after it’s been vacant for a period, we always need to retune in Sky. And if we have people renting [...]
Expats in Cyprus are being encouraged to donate aid destined for struggling families and individuals in Greece as part of a charity initiative by the Cyprus Archbishopric which includes collection drives around the island. "The Cyprus Archbishopric wants to make sure that as many communities as possible know about the chance to help. I have [...]
Visitors and residents in Cyprus can look forward to improved water sports opportunities this summer as plans for a new man-made reef in Paphos get underway. Three spots for the reef are currently under consideration. The Paphos Tourism Board told OGC that it is likely that the reef will be located off the coast of [...]
As bouts of heavy rainfall fell on Cyprus in January, several of the island's reservoirs overflowed, some for the first time in years. In Paphos District, Argaka dam which has a capacity of 990,000 cubic metres, overflowed followed by another small dam in Pomos, which holds up to 860,000 cubic metres of water. The Meteorological [...]