Newsletter

Daryl Fitzgerald

Recent changes in Euro rate delights buyers outside the eurozone. The British and the Russians are particularly active in property searches keen to take advantage. Investing in big ticket items such as property is always very sensitive to currency fluctuations.

This makes the low property prices here in Paphos even more attractive. Investing now the buyers can literally save thousands or they can upgrade without having to pay anything extra. At Fitzgerald’s we have received many requests to have purchase agreements in Sterling or any other currency in the EU. This means that the rate is agreed at the time of deposit payment, for example today’s rate is 1.23 Euros per Pound, then this is used in the agreement. If a property cost STG£100,000 on the day, ie €123,000, both amounts are specified in the sales agreement.

Buying now has other very important benefit, however the unexpected bonus ends 4th June 2012. For those people who are purchasing a property with Title Deeds, and if they can complete on or before 4th June 2012, then their Title Transfer Fee will be halved. This is an enormous incentive for all buyers. But is also may explain why many investors are focusing on larger value properties with Title Deeds and short completion criteria.

The Title Deed Transfer fees (for 2 buyers) follows a sliding scale: the first €171,000 of the price is taxed at 3%

€171,000 – € 342,000 is taxed at 5%

Above €342,000 is taxed at 8%

So up until 4th June the total Title Transfer Fees are halved.

There is also another good reason too. Fitzgerald’s are well known for having top quality properties at realistic prices with the Title Deeds. Fitzgerald’s pricing are being recognised by Land Registry as realistic which means the Title Transfer Fee is also realistic.

The Cyprus government has shown real initiative to help the property market and the ‘bundle of incentives’ are attracting lots interest and buyers. Fitzgerald’s are doing very well with keen interest from Russia and the UK where buyers are eager to secure exceptional value investments amid a windfall of exceptional benefits. Remember these end June 4th, 2012.

View the entire range of fabulous quality properties on their world class website www.fitzgeraldcyprus.com

It’s been a bit boring on the news front this month, lots of politicians “spouting” about anything and everything, but nothing really concrete to report, except to say that the EU Presidency begins on the 1st July and so there’s a mad rush to tidy things up. In my personal opinion however, it will take until the Presidency comes round again to get things tidy here, (about 12 years, I think)! The month started with better weather but still chilly nights. Sorry if you’re fed up of hearing about how bad the winter’s been, but it has – it REALLY has!! Now though, (28th April), it’s shorts and tops on, duvets off, hot-water bottles put away for another 7 or 8 months and smiles on the face of everyone, (well nearly everyone). The winter is nice for those of us living here as we get the place back to ourselves as the majority of tourists and part-time residents leave, but it is nice to see them returning and to catch up with a few months gossip.

At this time of year, the restaurants, bars and cafes start to re-open and we can eat outside again, with some of us covered in anti-mozzie spray of course. If you’re prone to bites, don’t forget to apply plenty of whatever – all over. This year, the mozzies are a bit more noticeable as the ground is still wet in many places. The boat trips have begun again and are still very popular. I see them passing by most mornings on their way to Coral Bay and the Akamas and they look to have had a bit of a repaint as they’re very white now. Easter happened! A week later this year than in most of Europe with Cyprus being Greek Orthodox. There may be austerity measures in place, (which country hasn’t got them?), but there was still enough money to have the most fantastic firework displays all around the Island and the Paphos area was no exception. Either the price of fireworks has come down, or else there’s plenty of money around somewhere. The month of April is when many charity events happen – Spring Fairs, craft shows, entertainment evenings and soon, from being glad to have come out from hibernation, we’ll be looking to have a couple of quiet nights in.

On the 6th May, I’m “singing” at a charity do for M.A.R.C.H. which provides holidays for disabled military personnel and their families. Last time, I was Britney Spears and dressed up and sang Hit Me Baby One More Time – not a pretty sight. This time it’s Dion and The Belmonts with Runaround Sue – a deep voice needed and menswear, (I’m not having the operation)! Eamon is also appearing as he used to be a DJ on Radio Caroline, (Roger Matthews) and is going to chat about his time ‘aboard’. It’s the REAL story of The Boat That Rocked – I wonder if I’ll see him in a different light after the weekend?

I’ve just bought our tickets for the Annual RAF Band Concert by the castle which this year is being held on 9th June and it’s the College Band of the RAF from Cranwell who will be playing. The gossip is that because of the Queen’s Jubilee celebrations, the normal band/s are tied up back in the UK. It will be nice to have a different band for a change and let’s hope that we can still have a bit of a sing and clap-a-long to some of the music. Tickets are only €10 and we’re planning on going for an evening meal and then going to the castle for good entertainment. A few years ago, the band timed the Dambusters March with the EasyJet flight coming into Paphos. The plane’s headlights were on as it flew over the castle and was just “one of those moments”.

The supermarkets are having another bit of a price war – keep it coming! Lots of special offers and for example, leg of pork is down to €2.19 per kilo which works out for the UK at around 81p per lb – not bad. As usual, plenty of bargains around for those of us who like a bit of a tipple.

Sometimes it’s difficult fitting in actually working at Fitzgerald as there’s so much going on elsewhere. We’re so busy in the office and sales are happening every week. It’s our best year yet, but we do actually work very hard at getting it right and eventually pays off.

Also there was a St. Michael’s Hospice Charity nostalgia night – 40’s, 50’s, 60’s – my Great Grandma told me about that era!! I’ve suddenly become lucky with raffle tickets and after many decades of winning nothing, I seem to be on a bit of a winning streak. If only it was the same with the lottery

In Cyprus we often get to celebrate Easter twice due to the differences between the Orthodox and Western Churches calendars. It is the one festival that they cannot agree on due to the use of differing calendars. The formula for both churches is the same as they both came from the same source, the problem came when the Western Church adopted the Gregorian Calendar but the orthodox chose to continue with the old Julian calendar.

This year the two festivals were one week apart but it can be as much as four weeks in some years. This year the western church followers celebrated Easter on the 8th April and the Orthodox on the 15th April. In the orthodox church Easter is the major festival overshadowing Christmas by a long way, indeed in Cyprus Christmas has only gained prominence since the arrivals of the Ex pat population.

In Cyprus Eater is celebrated with Bonfires, fireworks and much celebrating, over the weekend there is music and dancing in the village squares. There is even a culinary range of goodies that only appear at Easter with special cakes and breads to delight the palate. It is very much a time for families, they will gather and celebrate together after the long fasting of lent.

Kataklysmos, or the Flood Festival, takes place in Cyprus every year in June, 50 days after Orthodox Easter. The event takes place on the day that is known also as the day of the Holy Spirit, because it commemorates the descent of the Holy Spirit to the Apostles. In Cyprus, however, the celebrations are connected also to the ancient ceremonies organized in honour of Aphrodite and Adonis.

Water is the main focus of the festival. All coastal cities organize concerts, games and other events near the waterfront. Be ready to get wet at Kataklysmos! Larnaka organizes the biggest Festival of Flood in Cyprus and celebrates Kataklysmos for several days. On the sea front promenade you will find open-air fair with plenty of kiosks selling toys and traditional food. Popular Greek and Cypriot singers and dance troupes perform in Larnaka. There are competitions in the water as well as a contest for chatista, or rhyming songs in the Cypriot dialect.

In Limassol the events of Kataklysmos take place along the seaside promenade over a three-day period. You will find plenty of kiosks, entertainment and competitions at the sea. In Agia Napa the Flood Festival also lasts for three days. The program of the event includes traditional dances, poetry and singing, water sport shows, competitions as well as concerts by well-known performers. The festival takes place at the harbor.

In Paphos Kataklysmos is celebrated outside the castle at the harbour. The program includes concerts, dance groups performances and water sport competitions.

You have found yourself a home that ‘ticks’ all the boxes. Imagine a small boutique cul-de-sac ‘village’ project, quiet location, picturesque setting and a home that overflows with charm. 10 years on, the ‘village‘ has matured into an attractive and desirable residential address awash with colour. Located on the edge of Peyia foothills, your new home is merely 3.5 km from the famous Coral Bay Beach and the Peyia Village Centre is nearby, 1.5km away.

Your home is surrounded by a tall garden hedge, providing you with all the privacy you desire. The heated walk-in pool is a treasure you’ll love. An elevated poolside patio provides a relaxing vantage point to your outdoor entertainment area and the enviable south westerly orientation ensures you are in the full sun for the best part of the day.

Stylish double doors open to an expansive L shaped living area flooded with natural light with an interestingly detailed pitched ceiling. Surrounded by windows, it gives the living area a brilliant garden outlook.

A massive separate kitchen features 3 walls of continuous granite worktops and comes fully equipped. A small archway connects to an entry area of the living room and dining area, giving you a discrete yet convenient degree of separation, making your hostess duties so much easier when entertaining.

The long corridor leads to three double bedrooms, all featuring grand floor-to-ceiling wardrobes. The Master bedroom features a private garden terrace and corner Jacuzzi, en-suite bathroom. The third bedroom connects to the parking area and is presently used as a study/office and transforms into a guest bedroom when visitors come a calling.

This is charming corner of Peyia and a particularly inviting leafy neighbourhood. The low set home focuses on the quality of lifestyle within with plush garden settings and flowing open interior. The quality of the villa is exceptional and so meticulously maintained you’ll think its brand new.

To find out more about this property contact us quoting Ref:1347

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