Digest november 2013 by D.Fitzgerald Marketing

Paphos Digest

November/Ноябрь www.fitzgeraldcyprus.com

Published By Mandziak Estate Agency Ltd. Trading as Fitzgerald Marketing Solomos Crt, 74 Ap. Pavlou Ave Kato Paphos Cyprus 8046 Tel: +357 26 930345 Fax: + 357 26 930929 e: contact@fitzgeraldcyprus.com web: www.fitzgeraldcyprus.com Cover: Coffee Morning

Why Fitzgerald's? We aim to bring you the BEST VALUE properties in Paphos and now they are even better value... * A Safe Investment

Featured Property

Small project with communal pool. Very spacious formal living area and massive separate kitchen. Two patios, two balconies. Fully heated and fully air conditioned. Walking distance to Kato Paphos seafront and all facilities... Reference: 1573 (See page 10)

* No VAT charge to pay * Fully equipped * You can move in NOW Most of our properties either have the Title Deed issued, available or are in the final stages of Land Registry approval. Fitzgerald Marketing only list properties that are safe to buy and have a full record of any encumbrances on each property.

We continue to actively promote our range of top quality Cyprus properties on Rightmove Property Portal, UK余 Prian, Russia and Juwai, China.We feature properties in popular Russian lifestyle magazine, Moi Ostrov widely read in Russia, Ukraine, Bielarus, and Russian speakers accross Europe and Asia. In this time of economic and market uncertainties we strive to give you a range of top quality properties at realistic market prices coupled with all the legal quarantees and the Title Deeds

Air of Normality Returns to Cyprus... The year is coming to a close and for most of the people in Cyprus the end can’t come quickly enough. In 2013, a series of calamities descended on this island with a vengeance and Cyprus’s population was traumatised and shocked to the core. Therefore the arrival of 2014 looks Oh so appealing ... indeed the outlook for a positive new beginning seems to be gathering momentum. There have been many changes of late in Cyprus and most of them are promising. Many local ‘institutions’ and the ‘institutional way of doing things’ have been both ‘shaken and stirred’, weighed and measured, and brought to account. ‘Business as usual’ in many corridors of power has experienced a dramatic shift and an air of transparency and responsibility is emerging. The government is seizing this window of opportunity to implement long awaited changes which hereto could not be even contemplated. There are many little positive steps emerging which bode well for the future. If we understand that we live in a consumer society, commerce has to have room to innovate and be able to respond to market forces to thrive. The challenge presented by the Pancyprian Association of Retailers In Cyprus to loosen the Union grip on limiting retail opening hours (which quite literally can be described as medieval) is bearing fruit. The strict adherence to prohibition to trade on Wednesday and Saturday afternoons or hairdressing salons being closed on Thursdays, for example, is not what our contemporary consumer society wants. The Cyprus crisis has focused principally on increasing trade and using the potential of the economic benefit to better serve the needs of the Cyprus tourist industry. The enhanced shopping ‘freedom’ in many locations has been received with marked enthusiasm from both visitors and locals alike. Needless to say, the crowds milling around the brightly lit streets of Kato Paphos seaside promenade, a case in point, it is a pleasure to see. Some stereotypical opposition is still to be overcome, however, the reality is that by changing local perceptions and by adopting smart innovative practices we can lower costs, increase quality, increase employment opportunities as well as being able to deliver better customer service. The changing face of retailing and retail marketing looks bright indeed! With more good news on the horizon for 2014, the Cyprus finance minister told the

lawmakers on 21 October that he anticipated all currency controls related to domestic monetary transactions would be lifted by spring 2014! Presently, there are marked improvements in easing financial restrictions in support of the Troika’s policy of the bailout. Local business thresholds for making a single transaction abroad were raised to €1 million each, transfers between banks to make payments is raised to €15,000 without any restrictions, and money taken abroad was raised to €3,000 per person. Additionally, domestic business transactions of up to €300,000 can be made without the necessity for supporting documentation, all of which creates a greater semblance of normality and a growing level of optimism for the future. It is important to know that the currency restrictions relate to domestic market transactions and these pertain to deposits that existed at the time of the Troikas’s bailout restrictions that were imposed on 25th March2013. Restrictions do not apply to any inflow of ‘new’ funds to Cyprus (received after 25th March 2013). Hence, purchasing Cyprus property currently, does not present any financial risk to either buyer or seller. The seller can transfer money to any bank of his choice worldwide. At Fitzgerald’s we are happy to report that though we achieve a healthy sales sheet each month, none of our clients have been penalised or affected by the financial restrictions imposed by Cyprus banks. Dr George Mountis of Nicosia, of The Parthenon Partners, reported on the new ‘Codes of Conduct’, a Directive to ensure that credit institutions implement a fair and sustainable pricing policy for restructuring loans. The national Cyprus crisis has much in common with the real estate market crisis which was the main pillar of the Cyprus economy up to 2008. With the benefit of hindsight, banking practices were less than clear or prudent and have created legions of foreign property buyers and locals alike struggling with mounting mortgage loans. The Directive has new rules of conduct between banks and borrowers for the handling of loan restructurings with the aim to minimise costs, fees, and interest rates for

borrowers. In addition, paragraph 7 specifies that credit institutions, in the event of dispute, should refer the matter to the newly established Dispute Resolution Committee. “For noncompliance with the new directives, for each violation, the banks are liable for an administrative fine from €1,000 to €500,000 depending on the seriousness of the offence. If violations continue, a fine of between €100 €50,000 will be levied for each day that the violation continues. All these measures and guidelines are necessary and must be implemented in order for Cyprus to regain credibility as a regional financial hub, creating banks with solid foundations that can serve the real economy of the country.” All in all, the future looks much brighter today than might have been anticipated in the spring of 2013. Psychologically, we are all prepared to take action to pave the way forward to a better future, and given the progress we have achieved to date, 2014 looks inviting indeed. (Dr George Mountis was Anna’s professor at Neapolis University lecturing on business management, finance and banking. Any queries re bank restructuring please send email to financequeries@cyprusmail.com )

"The Office" Being a family business we have one office centrally situated in Paphos close to and in walking distance of both the Paphos Harbour and the Tomb of the kings Road. From the harbour walk up towards the Begonia Garden centre at the traffic lights and we are on the left just before the “Wishing Tree”. Coming from the Tomb of the kings turn right at the traffic lights (or cut through by the Roman Hotel) and we are a short way down on the right just after the “Wishing Tree”. Office hours are 9am to 5.30pm 6 days a week with no break for lunch. So if you are working and only have your lunch break to come and see us, you are welcome!

Prize Honey, Pleasant Sweet Surprise! Cyprus TZIVERTI honey has won the coveted title of the ‘Best Honey in the World’ at the World Beekeeping Awards 2013 in Kiev, Ukraine. A total of 112 honey samples were entered from 25 countries. One hundred medals were distributed, including 41gold, 31 silver and 28 bronze. The honey, produced by Honeymell Z.P. Ltd of Larnaca, entered two of the six categories at the event and won first place for both! The Crown of ‘Best Honey in the World’ is indeed a proud distinction for Cyprus as the importance of honey stretches back to antiquity. Thought of as a sacred liquid that reached the seat of consciousness, it was widely regarded as a sweet ambrosia of the ancient Hellenic Gods. The Greek word for honey is ‘meli’ and the title “melissa” was used to distinguish priestesses within all female deity cults. The priestesses of Zeus, Apollo, Demeter, Persephone, Dionysos, Artemis and Ephesia were all called “melissae”. Demeter is also known as the mother bee, who governs the cycle of life. In Cyprus the seat of Aphrodite with its famous temple and sanctuary is located in the area of nearby Kouklia Village (some 12km east of Paphos) Here the symbolism of honey was of very special importance to Aphrodite, the ‘Goddess of Love and Beauty’ and is neatly embellished within the context of the sweetness of love, grace and desire, and of life itself. The veneration of the sacred bee extended a step further. The priestesses of the temple (melissae) were accompanied and served by transgendered priests called “essenes”, (translates as ‘drones’). As Aphrodite’s sacred creature, the creation of honeycombs in perfect symmetry, was thought to suggest an underlying mathematical order in the universe. Thus the bee held the key to life itself.

In modern history, the bee is not venerated but their importance is of vital importance to us all. Albert Einstein famously proclaimed, ‘If the Honey Bee Dies We Die!’ We may not listen to the ‘old gods’ but the warnings of modern scientists are stark and we are urged to take note. The rate of global demise of bees makes for worrying reading. 40% of the bee population in the UK alone has been destroyed by the growing prevalence of the parasite which destroys whole hives. Elsewhere, bees are dying off as a result of modern agriculture practices, pollution, pesticides, etc. Bees are vital for pollinating crops to produce fruit and seeds and also perpetuate seed production for root and leaf vegetables. What we need are more bees rather than less, hence the fate of the bee is of colossal importance to us all. The preservation of the humble bee in the world is a matter of global concern. We now know that what Albert Einstein famously proclaimed was not an idle threat of a ‘deranged’ genius. In Cyprus, as a small island, the humble bee does not figure in modern Cyprus annals…..yet…. and any environmental concerns, with regards to the wellbeing of bees gives way to ‘progress’. Yet the crowning of Cyprus TZIVERTI honey as the Best Honey in the World has made a real impact. Cypriots swell in pride with this national achievement, which indeed it is, and coming at this time of economic troubles in the country it is a fitting balm for us all. Visitors to the island are making sure they do not leave for home without a jar of it and we hope the sweet elixir of the famous honey will linger and sustain them till their next holiday to Cyprus.

Featured Property

Ideal family affair Investing in property in Cyprus is nothing new. People choose Cyprus for many reasons: quality of life, relaxed lifestyle, favourable weather, the sun and the sea. What is super encouraging is that more and more with their families which may be 610 people are considering relocation to Paphos. The openborder policy of European Union has created a fertile environment where cross border relocation flows easily and is risk free but highly rewarding for those who choose to take this route. It is also an important opportunity to ‘reassemble’ the dispersed family unit and reestablished family bonds which are especially important where children are concerned. Once you‘ve made a decision that this is what you want to do, the next step is for all parties to find ‘your ideal’. This could be a tough undertaking and requires a lot of research and time. Sometimes we are lucky to receive perfect properties that would present perfect opportunities for extended families..... providing total privacy yet complementing each other whether you like the private villa environment or apartment living. Attention NonEuropean citizens: under the new rules, nonEU buyers can purchase 2 properties to equal €300,000 or more to be eligible to apply for the Permanent Residency status. Our recommendations: The award winning Kamares Village is a pearl of residential excellence synonymous with luxury living, close community spirit and lifestyle excellence. Taking advantage of the gently sloping hills the Kamares Village hilly terrain has been transformed to offer an unprecedented lifestyle environment where only the best will do.

http://www.fitzgeraldcyprus.com/properties/1565/

Your home is sited on the high side of a quiet culdesac and almost hidden from view. The interior is modeled on traditional Cypriot architecture featuring high pitched ceilings, graceful arches and private alcoves. Each home is very different yet both offer bright attractive interior, with that easy flowing feel and lifestyle appeal. Surrounded by large patio doors and numerous windows the scenery of brilliant garden settings bring uplifting ambiance that

Featured Property

permeates your entire home. The larger of the two villas features an inviting swimming pool with playful water fountains, whilst the other villa is surrounded by meticulously tended private garden. With lots of interest inside and out, the tree足lined neighbourhood, and views to Paphos coastline these are very desirable homes for the whole family. Kamares village offers excellent facilities for the privileged set of residents: Kamares Clubhouse, communal pool, tennis courts, restaurants which are more are approximately 700m away. More excitement and entertainment venues are in Tala (2km) and of course Paphos town and the beaches are mere 8km away. For those interested in multiple apartments we can offer Walnut Grove Resort and Pafia Gardens project.

http://www.fitzgeraldcyprus.com/properties/1552/

Featured Property

Universal Garden Villa Check this out A two bedroom villa in a well established residential area of Kato Paphos and within close proximity to city beaches harbour and the famous Posidonos Promenade, a fashionable high street with myriad of restaurants and a host of amenities (1.6km). You are part of a small project, the Universal Gardens, of two semi http://www.fitzgeraldcyprus.com/properties/1573 detached villas and two free standing villas sharing the communal swimming pool. This ‘mini village’ is private and secluded and creates the perfect environment to unwind and relax or, as it is so close to everything, you can ‘live it up’ in perfect freedom. Your home is deceptively spacious. You have a large open plan lounge living room with high ceilings, cool slightly textured tiles underfoot, and huge patio doors leading to the front entertainment terrace that spans the living room and the dining area. The separate and fashionable kitchen is discretely positioned behind an expansive archway and is fully fitted and well laidout to please even the most fastidious of cooks. Here you also have a convenient back door and an elevated patio overlooking the pool area. You have the convenience of central heating (gas) throughout your home, A/C units and the overhead fans. Upstairs, you have two very large bedrooms with fitted robes and high ceilings. The bedrooms share a balcony facing the street. The master bedroom also features a good size private balcony, overlooking the pool area. A stylishly outfitted and fully tiled shower bathroom completes the features of the 1st floor. Price: €129,000 The property is a great buy and a great investment.

Fitzgerald's New Properties Pafia Ground Floor €185,000 Beds: 3 Baths: 2 Forget about the confines of apartment living because here you have none! You’ll love coming home to your extra spacious 3 bed ground floor apartment that oozes contemporary living..T.Deeds Ref: 1568 http://www.fitzgeraldcyprus.com/properties/1568

Pissouri Bay Bungalow €125,000 Beds: 2 Baths: 1 Great location near Pissouri Bay beach, restaurants and shops this lovely neat bungalow offers the perfect retreat for holidays or permanent living...T.Deeds

Peyia Garden End Terrace €199,000 Beds: 3 Baths: 2 3 bedroomed semi detached home surrounded by greenery. Garden courtyard from kitchen and spacious living room. Separate kitchen. Sea view. Ref: 1571 http://www.fitzgeraldcyprus.com/properties/1571

Tala Helios Villa €199,950 Beds 3 Baths 3 Generous spacious interior, well defined formal and informal living areas. Sep. kitchen with terrace. Basement. Undercover parking for 3 cars. T. Deeds Ref: 1572

Ref:1569 http://www.fitzgeraldcyprus.com/properties/1569

http://www.fitzgeraldcyprus.com/properties/1572

Peyia Theos Park TH

Tala Views Villa

€129,000 Beds 2 Baths 3

€265,000 Beds 3 Baths 3

Quiet culdesac project. House with functional and Stylish features inside and out. The car parking is by front door and the com. pool only steps away. T.Deeds

Impeccable home with three bedrooms, designer kitchen, wonderfully comfortable living area. Private pool. Entertainer’s dream... Title Deeds

Ref 1570

Ref: 1574

http://www.fitzgeraldcyprus.com/properties/1570

http://www.fitzgeraldcyprus/properties/1574

This Article appeared in the Sunday Mail on 27th October 2013

"Music Open Paphos"