ABOUT CYPRUS

LEFKOSIA (Nicosia)

Lefkosia lies roughly at the centre of the island, with a rich history that can be traced back to the Bronze Age. It only became capital of the island in the 11th century AD. The Lusignans turned it into a magnificent city with a Royal Palace and over fifty churches. Today it blends its historic past brilliantly with the bustle of a modern city. The heart of the city, enclosed by 16th century Venetian walls, is dotted with museums, ancient churches and mediaeval building s preserving the nostalgic atmosphere of years past. Yet this old heart is split in two, leaving Lefkosia the only capital city to remain divided by force. The new Lefkosia developed outside the walls, and became a contemporary and cosmopolitan business and cultural centre. Just a few miles away are enchanting places of interests such as Byzantine churches and monasteries, archaeological sites and charming villages.

PLACES OF INTEREST (Nicosia)

• Cyprus Museum - Priceless and fascinating collection of Cypriot antiquities and treasures from the Neolithic Age to the Early Byzantine period.
• Agios Ioannis Cathedral - Build by Archbishop Nikiforos in 1662 and dedicated to saint John the Theologian.
• Famagusta Gate - The Venetian walls which completely encircle the old city of Nicosia.
• Laiki Geitonia - Pedestrian area within the walled city with traditional houses, shops, restaurants and galleries all restored as typical examples of Cypriot urban architecture of a bygone, more graceful age.

LEMESOS (Limassol)

Successor to two city-kingdoms and host to a Royal Wedding in the middle Ages, contemporary Lemesos stretches along the south coast. Proud of the spontaneous hospitality of its people, its archaeological sites, its mediaeval castles and its merry Carnival and Wine festivals, Lemesos is the island's most important tourist and wine industry centre. Hotels, restaurants and nightspots abound along the beach whilst closed by lie the pine-clad southern slops of Troodos with the picturesque wine producing villages, the idyllic mountain resorts and the picturesque Pitsylia area.

PLACES OF INTEREST (Limassol)

• Lemesos Mediaeval Fort - Cyprus Mediaeval Museum - Built in the 14th century on the site of an earlier Byzantine castle it houses the Cyprus Mediaeval Museum. It was here that, according to tradition, Richard the Lionheart married Berengaria of Navarre and crowned her Queen of England in 1191.
• Colossi Castle - A fine example of military architecture, originally constructed in the 13th century and subsequently rebuilt in its present form in the middle of the 15th century. After the fall of Acre in 1291, it served as the Grand Commandery of the Knights of the Order of St. John of Jerusalem. In the 14th century it came for a few years under the domain of the Knights Templar.
• Kourion - An important ancient city-kingdom, and one of the most spectacular archaeological sites on the island where excavations still bring new treasures to light.The magnificent Graeco-Roman Theatre was originally built in the 2nd century BC and is now fully restored and used for musical and theatrical performances.
• Sanctuary of Apollo Ylatis - Apollo Ylatis, God of the Woodland, was the protector of the city Kourion. The southwest side of the temple has been restored and excavations have also revealed other structures of this important sanctuary such as the bath complex, the pilgrim halls, the palaistra and a holy precinct.
• Amathus Ancient Site - One of the ancient city-kingdoms of Cyprus where, according to mythology, Theseus left the pregnant Ariadne to be taken care have after his battle with the Minotaur.

LARNAKA

Larnaca, a town with an easy-going pace, has strong links to the past. In the heart of modern Larnaka one finds remains of the ancient city-kingdom of Kition, reminiscent of its glorious days. The Mycenaean Greeks fortified the town with cyclopean walls in the 12th century while the Phoenicians founded a powerful kingdom here in the 9th century. Kition is the birthplace of the philosopher Zeno, founder of the Stoic School, and it is here that Saint Lazarus came to live after resurrection. In the 8th century it became a commercial centre and the seat of the European consulates. The delightful Palm Trees Promenade, its fort, and its old quarters give Larnaka its unique character. The nearby slat lake is a favourite stopover spot for thousands of migrant birds in winter, whilst on its edge in a tranquil setting stands a popular Muslim pilgrimage place.
The whole district of Larnaka has something special to offer the visitor, including Choirokoitia the oldest Neolithic settlement on the island, Stavrovouni Monastery and the famous Church of Angeloktisti.

PLACES OF INTEREST (Larnaca)

• Larnaka District Archaeological Museum - Interesting collection of finds from the Larnaka area dating from the Neolithic Age to the Roman period.
• The Pierides Foundation Museum - The oldest privately owned museum in Cyprus, set up by Dimitrios Pierides (1811-1895. It houses ancient, medieval, Byzantine and more recent objects belonging to the Pierides family.
• Agios Lazaros Church -Saint Lazarus is the patron of Larnaka. In the 9th century Emperor Leo VI erected a magnificent church over the saint's tomb. The church, one of the finest examples of Byzantine architecture in Cyprus, was faithfully restored in the 17th century, and the iconostasis is an excellent example of baroque woodcarving.
Hala Sultan Tekesi - Built in 1816 over the tomb of Umm Haram, allegedly a relative of Prophet Mohammed who died on this spot in 649 during the first Arab raids. The mosque is an important place of Moslem pilgrimage rankin immediately after the shrines of Mecca, Medina and al Aqsha in Jerusalem.
• Choirokoitia - The ancient site of Choirokoitia, is included since 1998 in the UNESCO World Cultural Heritage official list. It is the site of a Neolithic settlement found in a better state of preservation than most others from this period, not only in Cyprus but also in the whole Eastern Mediterranean.
• Lefkara - Picturesque village, very famous for its local laces, known as 'Lefkaritika; also very famous for its silverware.

PAPHOS

The whole town of Pafos is included in the official UNESCO list of cultural and natural treasures of the world heritage. Wherever one treads in Pafos one comes across its glorious history which dates back thousands of years, when the cult of goddess Aphrodite who emerged from its seas, flourished in this beautiful part of the world attracting many visitors from inland and abroad.
Today it is a growing harbour town, but in Hellenistic and Roman times it was the Capital of Cyprus. Still under the spell of the Beauty-goddess, the area retaining her magic has remained intact by time. It seduces its visitor with its majestic landscape, lovely coastline, historical treasures and delightful villages where tradition is still a way of life. Kept in harmony with nature are divine mediaeval monasteries, which lie peacefully in the Pafos heartland.

PLACES OF INTEREST (PAPHOS)

• Pafos district Archaeological Museum - Attractive collection of Cypriot antiquities from the Paphos area, dating from the Neolithic Age to 1700 AD.
• Pafos Mediaeval Fort - Originally a Byzantine fort built to protect the harbour; it was rebuilt by the Lusignans in the 13th century, dismantled by the Venetians in 1570 and rebuilt by the Ottomans after they captured the island in the 16th century.
• Tombs of the Kings - Spread over a vast area, these impressive underground tombs date back to the 4th century BC. They are carved out of solid rock with some being decorated with Doric pillars. High officials rather than Kings were buried here, but the magnificence of the tombs gave the locality its name.
• The Mosaics of Paphos - The mosaic floors of these noblemen's villas dating from the 3rd to the 5th century AD are considered among the finest in the Eastern Mediterranean. They mainly depict scenes from the Greek mythology.
• Petra tou Romiou - Birthplace of Aphrodite - according to legend, Aphrodite goddess of love and beauty, rose from the waves in this strikingly beautiful spot. The Greek name, Petra tou Romiou, 'The Rock of the Greek' is associated with the legendary frontier-guard of Byzantine times Digenis Akritas, who kept the marauding Saracens at bay with amazing strength. It is said that he heaved this large rock into the sea destroying the enemy's ship.
• Baths of Aphrodite - According to the legend, the goddess Aphrodite used to take her beauty baths in a pool of a natural grotto, shaded by a fig tree, which can still be visited. Nature trails set off from Akamas to lead nature lovers to incomparable view of unspoilt land.

AMMOCHOSTOS AREA (Famagusta)

Paralimni - Ayia Napa
The golden sandy beaches of the free (non-occupied) Ammochostos district gently embrace the eastern corner of the island. The popular holiday resorts of Agia Napa and Paralimni have been called a veritable paradise for anyone who loves the sea and water sports. The charming scenery includes the tiny fishing harbour of Agia Napa, the mediaeval monastery at the heart of the village and the windmills and small churches in the surrounding villages, which spread out to the areas of Paralimni and Protaras. This region is the main potato producing area on the island, and is known as 'Kokkinochoria" which means 'red soil villages'. The villages of this area are equally known for their poets, who are regarded as the best on the island.

PLACES OF INTEREST (FAMAGUSTA)

• Agia Napa - Originally a fishing village it is now a major tourist resort. The charming mediaeval monastery dedicated to 'Our Lady of the Forests' stand in the middle of the village surrounded by a high wall. Its 16th century church is partly underground and cut into the rock.
• Marine Life Museum - Can be found within the premises of the Ayia Napa Municipality.
• Potamos Liopetriou - A picturesque fishing refuge. Nearby are the remains of a Venetian watchtower. The French poet Arthur Rimbaud worked in this area in the 1880's.

TROODOS

Nine Byzantine churches in the Troodos Mountains are included in the official UNESCO list of the World Heritage. These are: Stavros toy Agiasmati, Panagia tou Araka, Timiou Stavroy at Pelendri, Agios Nikolaos tis Stegis, Panagia Podithou, Moutoulla and Archangelos Micheal at Pedoulas.
The impressive Troodos mountain range with its idyllic Forests stretches across most of the western side of Cyprus offering cool sanctuary in summer and opportunities for sports in winter. Famous mountain resorts divine in its valleys, as well as picturesque mountain villages clinging to terraced hill slopes make up the splendour of Troodos.
The area has been known since ancient times for its mines and in the Byzantine Period it became a prominent centre of Byzantine art, as churches and monasteries were built in the mountains, far away from the threatened coastline.

PLACES OF INTEREST (TROODOS)

• Kykkos Monastery - The most famous and richest monastery in Cyprus. Founded in 1100 and dedicated to the Virgin Mary, it possesses one of the three surviving icons ascribed to Saint Luke. The first President of Cyprus, Archbishop Makarios III served here as a novice. At his own wish he was buried at Throni, 3km west of the Monastery, and not far from his native village of Panagia. Religious fairs are held at Kykkos on 15th August. The Museum of Kykkos houses an important collection of consecrated vessels and Cypriot antiquities.
• Trooditissa Monastery - This beautiful monastery was originally founded in the 13th century. The present church dating from 1731 contains many valuable icons including a priceless icon of the Virgin Mary plated with silver-gilt from Asia Minor. A large religious fair is held in the grounds on 15th August. The monastery is closed for visits.
• Krasochoria - The area of Krasochoria, meaning 'wine villages', is found on the south side of the Troodos range. Traditions are kept alive in these villages where the cultivation of the vineyards and wine making are still the main occupation of the inhabitants. This is the area, which produces the famous local dry red wine. Main villages in the area are Omodos, Arsos, Pachna, Koilani and Vasa.

Mediterranean living on the cheap
By Steenie Harvey, The Best of International Living Magazine, 2003

Year round sunshine, golden beaches & crystal blue waters hardly ever too cold for a swim... this is Cyprus, a Mediterranean island nudging up against the Middle East. It's a holiday haven that doubles as an expatriate hideaway. In fact, it's one of the cheapest places in the world to live a Mediterranean island lifestyle.

The towns are clean and cosmopolitan. Compared with prices in other parts of the Mediterranean, real estate is inexpensive. Indeed, it’s about 30 percent cheaper than in Spain, Portugal, and Greece. And it doesn't cost a lot to buy in on the first rung of the Cypriot property ladder.

Apart from the capital, Nicosia, the main population centres (Paphos, Larnaca, Limassol & Ayia Napa) are on the southern coast. The island is home to a sizable number of foreign residents, mostly Britons but also other Europeans, Arabs, Russians & Americans.
A safe haven... and tax friendly.

Of course, cheap property shouldn't be the only deciding factor when choosing a new home. As well as being very affordable, Cyprus is safe. Crime is virtually nonexistent. And nearly the whole population (90 percent) speaks English. Street names are in English, making it an easy place to get around.

Furthermore, foreign residents in Cyprus can take advantage of one of the world's most favourable tax regimes. You'll pay only a flat rate of 5 percent on all pension and investment income.

The resort towns are magnets for European vacationers, but the coastline is also dotted with quieter spots. The wild Akamas Peninsula in the Far West region, for example, is home to such exotic wildlife as vultures and bee-eaters, as well as rare loggerhead turtles that come to lay their eggs in the peninsula's sandy beaches.

The island's small seaside villages enjoy a much slower rhythm than the towns. Peaceful havens include Latchi and Polis on the Akamas Peninsula and also Pissouri, midway between historic Paphos and bustling Limassol. Its flower bedecked village square is traffic free, and the mainstays of village life remain intact: You'll find a church, a bakery, a post office, and a handful of family run tavernas. Paths through the vine terraces lead to the white sands and cliffs of Pissouri Beach, a gorgeous spot (where, for as little as $100,000, you could pick up a three bedroom home with terrace views of the Mediterranean).

In addition, Cyprus is a tax haven. Its home to almost 40,000 “brass-plate” companies taking advantage of the 4.25 percent tax rate that applies to corporate profits in the offshore sector.
The Republic of Cyprus is regarded as a major European gateway for investors from both the Middle East and Russia. An associate member of the European Union, it has lodged an application (expected to be granted in 2003) for full membership.

A meal for two for less than $30

Real estate is not the only bargain here. Other costs of living are very affordable as well. Most properties come free of property taxes. Gas is just 60 cents a gallon. Your water and electricity bills, combined, will amount to less than $350... for an entire year! You can rent a video for $1.40. A meal for two in almost any local tavern will cost less than $30.

Medical care is good, with both government & private hospitals & clinics in all the major towns
Doctors speak English, and the majority gained their qualifications in Western Europe or North America. Although foreign residents must arrange private health insurance, visiting tourists who have an accident are entitled to free emergency treatment in public hospitals. A consultation with a private doctor in most cases will cost just $15 to $20.

Another bonus: You can bring your pets. There is a six month quarantine period, but you may (depending on the property you own) be able to keep your pet in your home for the quarantine period.

If you're looking for a low maintenance home, within easy reach of shops and on a bus route, consider a town apartment in a high-rise complex or a maisonette on a small estate. Villas and bungalows are dream choices for retirees, but you'll pay the price of privacy. Like villas in most other sunny locations, uninterrupted sea views and private pools add a hefty premium.

Prices are higher around Paphos than elsewhere, but this is the nicest of the resort towns. It was the last of the larger places to be developed & town planners laid down fairly strict guidelines. Paphos, unlike Larnaca & Limassol, has no tower block apartments & most buildings are only 2 or 3 stories tall.

Deeds and taxes

Foreign nationals can purchase, on a freehold basis, a residence or a plot of land up to 4,000 square meters in size. Cyprus does have exchange controls meaning it's necessary to pay for property in foreign currency; personal checks, bank drafts, and telex transfers are all acceptable. Certificates relating to property purchases are obtained from the Bank of Cyprus.
Purchasing property in Cyprus is a relatively straightforward process. Make sure you use a developer who has a good reputation if you intend to buy off plan or have a villa built to your own specifications. Take special care when making a private arrangement to buy an older house in the country ownership of the trees on the land (or even the property itself) could be disputed by other members of the vendor's family.

It is safest to buy through an agent (since agents must be government licensed) and to have an attorney check the title for you. Title deeds go through a land registry office, which is run as is a similar office in Britain. Contracts and other legal paperwork are written in English. You will, as in Britain, have to pay stamp duty, which is effectively a one-time purchase tax... and nominal.

Stay in the South ?

Geographically closer to Syria than Athens, Cyprus is the Mediterranean's third largest island with a population of about 750,000. Like Ireland, it too is a divided island, with Greek-Cypriots in the south part and Turkish-Cypriots in the northern part.

The majority of foreign residents are in southern Cyprus (the Republic of Cyprus), which comprises about 60 percent of the island land mass.

Many people think of the Republic of Cyprus as a Greek island, probably because it effectively operates as a Greek colony... complete with taverns, bouzouki music, and traditional Easter celebrations. But don't start thinking that southern Cyprus is just another bit of Greece. It's not. It's a country in its own right, with entirely separate laws. The entire island was a British colony for 80 years, and the Brits bequeathed Cyprus its banking, police & judiciary systems... as well as its custom of driving on the left.

Pay as little as 3 percent flat tax

Many expatriates living here off investment income keep their cash growing free of tax in another offshore banking haven, such as the Channel Islands or the Bahamas, and then bring into Cyprus what's needed for annual expenses. This is because the Cyprus government taxes the assets of expatriates solely on a remittance basis. You pay a flat rate of 5 percent on the pension and investment income you bring into the country. You may also be able to claim exemptions, which can effectively reduce your personal taxation rate to as little as 3 percent.

BUYERS TIPS

Over recent years, the Cyprus property market has rapidly expanded with more and more people looking to settle in Cyprus as well as invest in property in Cyprus. Many people are unaware of just how simple the process of purchasing a property in Cyprus through Alexanders International can be. We hope the following guide for buying a property in Cyprus will be of use!

PART 1 – STARTING OUT
A. Am I ready to purchase a home in Cyprus?
If you can answer ‘yes’ to most of these questions, you are ready to begin.

1. How will I fund the purchase of my Cyprus property? - Do I have the capital to buy a property in Cyprus outright?
2. If you require a mortgage – Do I have a steady, reliable source of income?
3. Do I have few remaining debts?
4. Do I want to buy in a country with a low cost of living, low crime rate, and with prosperous investment opportunities?
5. Do I understand the course of action for purchasing a home in Cyprus?

B. What will you be using you property in Cyprus for?
Are you moving to Cyprus permanently? Or do you just want to use you property in Cyprus as a holiday home? Maybe you are just buying a property in Cyprus for an investment? Think about your current situation. How are you going to fund the purchase? Do you already have the capital to buy, or will you require a mortgage to buy a property in Cyprus? If you require a mortgage, how much can you afford to repay each month? (Remember to allow for bills and any communal charges that may apply). Then you will need to think about what you would like to buy in Cyprus, in terms of property type, location, size of property, age of property, what kind of amenities you would like close by, for example, is the property near to schools? Does it have good transport links? Are you able to match your needs with your budget? If not, try looking in up and coming areas, (rather than developed areas) where property bargains are in abundance, thus giving you more a wider selection and therefore more choice.

PART 2 – FINDING THE RIGHT PROPERTY
A. Lets begin with location.
Selecting a location that suits you is of vital importance. Think about your daily lifestyle, and try to select a location that fits this best. For example, if you are planning to use your property in Cyprus for retirement, you may prefer a quieter location, that is in easy reach of amenities. If you will need to work in Cyprus, try to select a location that has lots of employment opportunities or good transport links to an area of this kind. Would you prefer to be inland, or on the coast? Our Cyprus property advisors are happy to offer their local knowledge of the various locations in the Paphos district.

B. Does my preferred location fit my budget and property needs?
You can easily answer this question by selecting a property search (by map search) on our website.
• . Enter your property needs, for example detached 3 bedroom villa, and a search will give you an idea of what your money can buy. If you are still undecided on location, a more general property search will allow you to compare several areas. Alternatively, contact one of our Cyprus property advisors, for further advice.

C. Are there any hidden costs I will need to consider?
On the Cyprus homepage of our website, you will find Cyprus property legal information, which lists the costs involved in purchasing a property in Cyprus. We also have articles about legal property matters.

D. What should I consider when viewing a home?
Try to view each home objectively, and if possible keep notes, or even photos so that you can compare each property. Our associates in Cyprus make every effort to carefully select quality developers. If you are buying off-plan, you may wish to view previous work of the developer you are considering, to gain an idea of the standard of build. Ask about the area. Are there any plans to build other properties which may affect yours, for example in terms of the views you have? What is the area like at different times of year? Will this change your opinion of the property? What are the neighbours like? If you are buying on a development, what will the annual maintenance costs be? Is the property right for you? Does it have enough space (inside and outside)? Do you like the layout? Does the property, or will it have title deeds? If the house is complete, is it structurally sound? Do the appliances work? If you are viewing a resale property, do any repairs need to be carried out? If so, will the seller carry them out? What is included in the price? Try to have these kinds of questions in your mind or even written down before viewing, so that you can view each property objectively, and keep track of all the information that you receive.

PART 3 – I’VE FOUND THE RIGHT PROPERTY!
You will need to employ a solicitor, to advise you on property legal matters, and assist you in the process of purchasing your property in Cyprus. It is also advisable to open a bank account in Cyprus, especially if you are planning to stay for long periods. This process is similar to that in the UK, and is fairly simple.

PART 4 – WHAT NEXT?
Firstly, you will need to apply for a mortgage. This can be done through a bank of your choice. Your solicitor will be able to advise you on what will be best for you. To apply, you will need the following:
Recent bank statements (over the past 3 months)
Recent utility bills
Passport
Recent pay slips (over the past 3 months)
Proof of any other income
Information on any current long-term debts you may have
The address and description of the property in Cyprus you are purchasing
The sales contract
Your mortgage application usually takes between 1-6 weeks to be considered.

Good Luck! We hope your search for the right property in Cyprus is both enjoyable and successful. If you require any further assistance for Cyprus property matters, please do not hesitate to contact us at our office. Or you can also e-mail us. We would be delighted to be of assistance!