June
Fitzgerald Estates Paphos Digest
www.fitzgeraldcyprus.com Fitzgerald Estates Ltd June
Fitzgerald Estates Ltd Solomos Court 74 Apostolos Pavlou Ave Kato Paphos Cyprus 8046
Featured Property
Tel: +357 26 930345 Fax: + 357 26930929 e: contact@fitzgeraldcyprus.com web: www.fitzgeraldcyprus.com
We aim to bring you the BEST VALUE properties in Paphos and now they are even better value... • Safe & Secure Investments • No VAT charge to pay • Fully equipped and often fully furnished • 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 Estates only list properties that are safe to buy and have a full record of any encumbrances on each property.
Magnificent cannot begin to describe this most palatial of villas. This truly splendid designer home is set in the hills above Peyia, with totally uninterrupted views down to the coastline – stretching from Paphos to Agios Georgios and beyond…..you’ll never want to leave home! To find out more just quote the reference number 1162. (See Page 5) We continue to advertise our world class website on the famous British property website ‘Rightmove’, the Cyprus Mail, Essential Paphos magazine and the Russian magazine ‘My Island’ (Moi Ostrov) attracting sellers as well as buyers. We are seeing consolidation of prices at current realistic levels. As more people wake up to the fact that this is a wonderful opportunity to buy villas, prices will increase however prices for apartments will continue to be soft because there is a big oversupply of this type of properties.
Wind Power co omes to Paphos
At Fitzgeraald Estates we pridee ourselves on being different in many ways. We are a prop perty positive w marketingg firm, totally independent and markeet leaders in the Paphos re‐ sale propeerty market. Our comprehensive industry knowledgee, re‐sale market exxpertise, powerful iinternet and local p presence give you the competitive edgge when buying or selling a property. Buying or selling, thiis is one of the bigggest decisions yyou’ll ever make. N Naturally, you want the best possible outcome.
People coming away from the airportt have noticed for aa while large white towers appearingg in the hills. With very little publicity the new wind farm m ome into being. at Orites has co With the first phasee due to be W f finished in late 201 10, some the wind t turbines are now in n place making the w wind farm at Orites s the first ever wind d f farm to be built in C Cyprus. When the first phase of the project is W complete, it will bee an 84‐megawatt w wind farm with 41 turbines producingg almost 10% of the island’s total energy generation capacity.
Daryl’s commitment is to offeer sound d an advice thaat you can trust and exceptional customer servicee that of the covers all levels and phases o buying and selling process.
Each of the turbinees has a height of between 75 metress and 108 metres. T The rotor diameter r is 82m, resulting in a maximum heigght of the turbines of between 114 meetres and 158 metres.
For Premium service and Excceptional results, disscuss the purchase or sale of your homee with Daryl Fitzgerrald.
Subsequent phasess give approval to extend the wind farm to be able to 143.5‐megawatts. produce a total of 1 Commercial operattions at the wind f farm, located on th he Orites Mountain near Kouklia on a site spread over 16 square kilometres, are scheduled to 2010. start at the end of 2
Leadeers in Re‐sale Propeerties
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Banking in Cyprus
You can have a loan up until age 70 in most cases. So if you are 59 now you can get a loan for 10 years. Normal proof of income to meet your financial commitment applies.
The banks in Cyprus are best described as 'old fashioned' in that they are based on savings deposits and mortgages. This went well for everyone and Cyprus was not involved in the highly geared derivatives used by Big Banks in the US and other places. However the Cyprus property boom between 1999 and 2007 lead some banks to lend to buyers of developers properties on 0‐ 10% deposits, breaking with their previous conservative rules of 20‐25% deposit. The developers got the sale and the banks 'placed' their money on safe securities. Or were they?
The banks love Title Deeds but if they are not available the developer will need to give a bank guarantee to issue the loan. This where we at Fitzgerald Estates have it right, because most of our properties have the Title Deeds.
Fáilte Pafos an Irish cultural group are organising a Mid Summer Hooley on Saturday June 19th at 7pm at the Village Inn, Kissonerga. There will be a glass of punch on arrival, a fine BBQ plus a full salad bar. They will have some Live Music guaranteed to get the feet tapping and create the right atmosphere with some great Irish Music. Tickets are €15 available from the Village Inn, Kissonerga. Tel: 26 941 357.
The boom finished and prices of these over‐priced development properties dropped significantly and the banks were left holding a lot of debt. The more conservative bigger banks came out looking good whilst the others, not so good. The good news is that the banks ARE lending but they are a lot more careful who they lend to, how much and what for.
They will as usual be supporting local organisations and charities at this event. There will be a draw organised by and in aid of Atromitos Badminton Club, money raised goes towards the youth development of the sport in Paphos. The profits from the event will go to The Cyprus Kidney Assoc. and The St Michael’s Hospice. For more information on Fáilte Pafos see their website www.failte‐pafos.org
This is why there is now a significant difference between the lending rates of banks here in Cyprus. They are now aware of the different risks in lending to residents and overseas investors. Rates for residents vary from 4.5‐ 5.25% and non‐residents 5.25‐8.5%. The deposit required by residents is 20% and non‐residents 30‐40%.
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Properrty of the Mo onth Peyia M Magnificent 5 Bed Villa
Magnificent cannot begin to describe this most palatial of villas. Th his truly splendid designer h home is set in the hills above Peyia, with totally uninterru upted views down to the coaastline – stretching ffrom Paphos to Agiios Georgios and beeyond…..you’ll never wan nt to leave home! Built on 3 levels, every room is designed w with considerable fflair ensuring eeach enjoys the mo ost dazzling views, com mplementing the su umptuously spacious living areas. Entering through the double main doors, you ur senses are bomb barded with an explosiion of light. I defy you not to be in awe of the grandeur of this villa. The entran nce hall opens to th he dining area (with h floor to ceiling bayy‐windows), which then effortlessly beecomes the main lounge and the patio doors o opening to the vast entertainment terrrace. With the log‐ burning firre for those cooler winter evenings, th his is definitely a ‘drream come true’
home. To the other side of th he hallway is the veery spacious kitchen n that is a perfect expression n of your lifestyle. W With stunning views, plenty of storagee cupboards, easy care workkspace, and minute attention to detail,, it’s a delightful hub for the resident gourmet cchef and family. A p private terrace areaa off the kitchen is just right for taking in the sun whilst keeping an eeye on the cooking. Also on this level is the guest cloakroom m. Upstairs are 4 of the 5 doublee bedrooms – each h with its own well aappointed en‐suite shower orr shower/bath and built‐in wardrobes.. All the bedrooms here open to terraces o or a balcony cooled by the fresh sea brreeze. Panoramic vistas to the sea and brilliant Mediterranean sunsets await. The lower levvel features an additional kittchen, a huge lounge area fflowing seamlessly to an expansive 10m x 5m pool with graciouss Roman steps and the pool terraace area. Here you also have a sttudy area or gamess area, (depend ding on your choice), a utility room and a convenient sttorage room. Completin ng the lower level iss the 5th bedroom, which also featurees a private en‐suite e and a privvate terrace area – p perfect for that morning coffee and ideal for guests accommodation. Vibrant mature gardens with h an irrigation system surround this wo onderfully elegant home. No words can ever describe tthis villa. No picturees can do it justice. You MUST view this propeerty to really apprecciate what a stunnin ng jewel it really is. For more information quote e ref: 1162
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Grand Charity Military Band Concert The Royal Signal (Northern) Band Friday 25th 7pm, June 2010 Castle Square, The Harbour, Kato Paphos
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The Royal Signals (Northern) Band will be continuing the annual tradition of having a Military band playing at the harbour. These concerts have delighted both residents and tourists over the year and are always looked forward to. The concert will take place on Friday 25th June starting at 7pm.
Tuesday 22 June 10:30 – 14:00 & 18:00 – 20:30. The Royal Signals (Northern) Band is one of 19 Territorial Army Bands based in the United Kingdom. The bands history goes back to 1952 when the then Commanding Officer received a letter from Durham Territorial Association stating that it was prepared to authorise an additional Band for TA units in the association area. Such an opportunity was not to be missed and the Band of the 50 (Northumbrian) Signal Regiment was formed as an
Tickets are priced at €10 and are available from Hearns Book Shop Coral Bay, Chillies and of course from the Fitzgerald’s office in Kato Paphos. There will also be a ticket sales kiosk in the harbour area open daily from
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authorised TA Band. The Band was formed as a Brass Band as it was considered easier and more cost effective to recruit Brass players in a northern based band.
Also, new government legislation to cut out some of the bureaucracy is only months away. With Fitzgerald Estates, most of the properties either have the Title Deeds or they are very close and built by reliable developers.
Sport Badminton The Band currently has 27 male and female musicians. In past years the band has completed summer camps in Gibraltar, Germany and Scotland and in 2008 the TA celebrated its centenary with a Pageant on Horse Guards Parade, London where the Royal Signals (Northern) Band took a leading role. During the same year the band was also privileged to play at Buckingham Palace for the Queen’s Garden Party.
Feel the need to get fit for the summer? Try Badminton, a very social sport that won’t break the bank. The Atromitos Badminton Club based in Geroskipou meets 3 times a week. Whether you are a total beginner or a seasoned player you will be made welcome and the club has a great social scene too.
Title Deeds The Title Deeds situation here in Paphos is improving rapidly. Last year there were about 5,000 issued and this year there will be 15,000. The basics reason for the slowness of the issue of the Title Deeds is due to the property boom of 1999‐2007 when the Land Registry Office got inundated with work and is only now catching up.
They have a section for kids giving coaching and guidance to the up and coming players of tomorrow. For information please telephone: Sylvia (En. De. Gr.): 99519504 Davy (English): 99971150 www.atromitosbadmintonclub.org
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May Property Parade
Rugby
Year on year May has been a busy month for us and this year was no exception. Many were long standing appointments and a good number of clients arrived specifically to view a selected range of properties. The minority were the casual ‘walk‐ins’ and most of those clients were ‘referrals’ (mostly through word of mouth) or were following up first hand on properties they’ve initially found on the website. For the month we have shown a record 78 properties to qualified clients which for us, having on average 70 properties, means that , statistically speaking, we had secured a viewing to ALL our properties we market. That in itself is a hard won achievement for Fitzgerald Estates in what has been a very difficult time for real estate in Cyprus and indeed worldwide. We are delighted that a good percentage of these viewing have been converted to actual sales.
The FIRA European Rugby 7s final leg of the qualifying rounds of the European Rugby 7s June 12th‐13th 2010. Paphos, Cyprus If you fancy some good rugby then Paphos is the place to be this June. We are looking forward to some great fun both on and off the pitch for the final leg of the qualifying rounds of the European Rugby 7s. The teams participating will be Cyprus, France, Greece, Germany, Israel, Malta, Serbia, Croatia Portugal and Georgia.
Whilst the property presentations on the web receive many a compliment, it’s the substantive information that clients value and base their decision on. The on‐line monthly newsletter and the audio podcast plays a vital role in the information flow to the consumers globally, including Cyprus, where consumers are particularly knowledgeable and demanding. It’s ‘the finger on the pulse’ with topics covering many issues regarding the
The great thing about the rugby 7s is that as well as the great competitive spirit on the pitch there is always a great social spirit to be enjoyed afterwards. New to Rugby 7s? Then go along to the Paphiakos Stadium and join in the fun.
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local property market, recent sales, market trends and many lifestyle points of interest.
walk to Paphos Harbour very close to the asking price A lovely, modern and spacious 3 bedroom bungalow with en‐suite, own swimming pool, big driveway and large land in Anarita for very close to the asking price
The print media also has a major role in our marketing strategy too. From editorials and advertising in popular Russian and English language magazines to the full page advert in the daily Cyprus Mail (updated twice a week) we are continually increasing the consumer awareness of our property range in the marketplace. Russian Magazine MOI OSTROV is also available on‐line on Fitzgerald’s website
A lovely 2 bedroom, 2bathroom ground floor apartment with its own driveway in Kato Paphos close to all facilities, for the asking price. A spacious 2 bedroom 2 bathroom apartment with fantastic panoramic views that cannot be built on in Chloraka for close to the asking price
The hallmark of our performance is our continual commitment in sharing genuine information with ALL our clients to give people the confidence to make informed decisions and to sell their properties in what is a serious time for business. The cornerstone is the recognition that today’s seller and particularly the buyer is exceptionally well informed and far more demanding for the ‘real value’ and quality customer service.
Finally an older spacious 2 bedroom bungalow on large land with its own swimming pool and magnificent views to the south and west in Tsada for close to the asking price.
Recent sales: We have sold the following properties in the merry month of May" An end terrace house in Kato Paphos with communal swimming pool own parking and close to all facilities near the asking price A terrace house in a prestigious project with beautiful swimming pools and gardens, only 8 minutes
There is strong demand for Fitzgerald's quality property from British, continentals, Russians and Cypriot buyers at reasonable prices. Most of which have the Title Deeds. Three were sold within only days of coming onto the market.
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Fashion n For a long time there has beeen an image of tthe ‘expat’ as rather a casual character permanently attireed in T orts and ‘flip‐flops’. That is shirts, Sho all changin ng!
Residency For people with European Union buy properties in passports you can b Cyprus and gain peermanent residency. However people fro om other countriess g generally do not ha ave these rights. TTo facilitate investm ment and investors f from these countri es the Cyprus Government has paassed legislation to allow Non Europeaan Union citizen to g gain Permanent Re esidency status by investing €300,000 0 or more in Cyprus real estate.
With the influx of a younger set from oming the across Eurrope fashion is beco in thing. TThe catwalks are being regularly ttread by the young & beautiful iin Paphos.
Fitzgerald Estates aand our panel of efficient lawyers caan help anyone in need of assistance in this matter.
Next month we will be lookin ng at ot and where it’s haappening. what is ho
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How to o Find Us
A Kilometre e of Euro’s St Michael’s Hospice e are launching a “Kilometre of Euro’s”” campaign to assist with the hospice building project. The building which nstruction for some e has been under con t time now is moving g towards the final stages of completio on.
Our officee is open 9am to 5.3 30pm, 6 days a week including bank h holidays with no brreak for lunch. So iff you only have yourr lunch break to seee us, you are welcome to come along aand have a coffee and a chat! The office is walking distancee from the Tomb of the Kings area and also hos. Kato Paph
St.Michael’s Hospicce is being built in t the tranquil setting g of the village of Mesa Chorio. It will encompass palliative and holisttic care, residential nursing care and trreatment centre and will be open to o everyone, irrespective of nationality, belief or ability to pay. Collection day will be Saturday the 12th June, with volunteers holding bucket collections tthroughout the t town eventually cu ulminating at the Paphos Harbour wh here they hope to complete a Kilomettre of Euros to raise e f funds for the comp pletion of the hospice building.
If you have a property of anyy kind to sell in the Paphos area with TTitle Deeds in yyour name please come and see us we are always lookingg for new propertiess to fulfil the needs of our clients.
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