The Paphosfinder newsletter
August 31, 2002
========== PaphosFinder.com Newsletter ======
August 31, 2002
************************************************************
TO UNSUBSCRIBE:
Please follow the directions at end of the newsletter.
************************************************************
EDITOR'S NOTES:
If you enjoy your subscription to the PaphosFinder
newsletter, please forward a copy to a friend or associate
that would benefit from this newsletter. We appreciate your support.
************************************************************
Opera in Paphos
Turandot by Giacomo Puccini at the Medieval Castle, Pafos, Cyprus.
6,7 and 8 September 2002 performed by the National Opera of Poland teathre
Wielki.
Tickets CYP 15, 25, 35, 40
For more info:
http://www.pafc.com.cy
************************************************************
Get a feel for Greek music.
You can download some Cypriot traditional melodies, all in mp3 format,
192kbps, 44 kHz. Here on the following link: (removed)
************************************************************
The new Paphos airport
will start operating at the end of 2004. Work on the airport will begin
in
the second quarter of 2003.The five consortiums competing for the build,
operate and transfer
contracts are Alterra Consortium, Cyprus Gateway Airports, Hermes Airports,
Project Pegasus, and the J&P Led Consortium.
************************************************************
Speed Cameras in Cyprus
There will be 2 types of modern speed cameras, mobile and static, located
around the island. The specifications of the system will be similar to the
ones used in the UK.
It is anticipated that the project will take 5 years to implement fully;
cameras will be installed gradually starting with the freeways and busy
junctions.
Within 45 days offending motorists will receive a photograph of their
license plate and the driver, along with the fine.
The cameras are also capable of revealing other offences such as using a
mobile phone and not wearing seat belts.
************************************************************
New roadworthy laws
From September 1 the owners of used cars will need to present a
road-worthiness certificate before registering their vehicles.
The certificate is compulsory and motorists will be obliged to display them
on their vehicle's windscreen.
The decision will drastically affect
importers of used cars who will now
have to MOT their vehicles at government-approved private garages at a cost
of CYP25 each.
The use of rear seatbelts is now mandatory in all
vehicles so equipped since
1st of July this year.
Drivers are now liable for children in their
cars that are not buckled up;
adults sitting in the back are liable for themselves, if they fail to wear
a
seat belt they can be fined. The new laws apply to vehicles of less than
3.5
tonnes.
Under current legislation the fine for not wearing a seat
belt is CYP50;
drivers caught without belts on also incur penalty points.
************************************************************
Paphos to Limassol freeway.
The Paphos to Limassol freeway will be fully operational shortly, the
existing contra-flow on the bridge near the birth place of Aphrodite will
be
removed within the next two weeks.
************************************************************
Societe Generale, one of the biggest banks in Europe had begun operating
in
Cyprus as a local commercial bank.
Societe Generale is the second
largest bank in France and the Fourth largest
in Europe, with branches in 80 countries.
The bank started operations
in Cyprus as an offshore unit a few years ago
but according to reports, the island's imminent accession to the EU and
the
company's expansion policy brought about the decision to start operations
on
the local market.
The services the bank will provide will be similar
to those of other local
banks and the company has already moved to hire personnel to staff its
branches as well as its offshore operations.
The bank is planning
to open branches across the island, starting with two
branches in Nicosia and Limassol.
The first branches are expected to open within the year, while three more
in
Famagusta, Paphos and Larnaca will be opening in 2003.
************************************************************
New businesses in Paphos area.
New 5 star hotel has opened in Tomb
of the King area, The Elysium. Its
standards are so high it has already won an award and it is still partly
unfinished.
New Irish pub O'Neils has opened on Tombs of the Kings'
road, it is
traditional to the core, also serving food up to 6pm as well.
New Japanese restaurant Youkoso has opened on Tombs of the Kings' road,
specialising in Teppanyaki, this means that the chef cooks your food in
front of you, on heated iron tables. Sugoi ne?
New take away opens in Kissonerga, the already well established Chalk and
Cheese restaurant now has a take away next door, it is already busy.
Paphos gets its second bowling alley, located in plastic street Kato Paphos.
The E&S supermarket chain have expanded and how has a store in Polis.
Children will be happy to note that there is a fun fair in Paphos,
currently
at the junction of Tombs of the King's road and Apostolos Pavlou Avenue
in
Kato Paphos. There is one breathtaking thing for adults as well. Check it
out.
************************************************************
Starting from September 2, shopping hours are the following: open until
8.30
PM on Monday, Tuesday, Thursday. On Wednesdays will close at 2 PM, Fridays
at 9.30 PM and Saturdays at 5 PM. Closed on Sundays.
************************************************************
A marine passenger service between Cyprus and Lebanon on hydrofoil
125-seater Flying Star vessel is offering since August 1 this year by Delta
Travel in Larnaka.
Travels from Larnaka to Beirut will take just three and a half hours at
speeds of up to 39 knots (73 km/h) virtually flying over water.
The trip to Beirut aboard the Star takes and includes waitress service of
complimentary sandwiches and (non-alcoholic) drinks. Passengers sit in
airplane style seats, while those travelling first-class have the luxury
of
their own cabin.
Return tickets to Beirut from Larnaca costs ?70 per person, plus a maximum
port tax of ?38. Child fares come at a 50 % discount. First class travel
is
a ?15 supplement.
Currently, the Flying Star departs from Larnaca on Mondays and Thursdays
at
8.30 AM and returns from Beirut on Tuesdays and Thursdays, arriving at 11.45
AM.
************************************************************
Cyprus could face EU property boom
Demand for property has increased over the past 2 years, the general
consensus is that further rises in land and property sales and prices will
occur once Cyprus joins the European Union.
Estate agent Antonis Loizou describes the present situation as "a great
time
to invest in property in Cyprus". He points to imminent EU accession
and
Cypriots looking to invest in alternatives to the failed Cyprus Stock
Exchange as the main factors fuelling the rise in demand.
The Land Survey Department reported that over the last several years the
price of property in developed areas has shown an average annual increase
in
value of between 6 and 10 per cent, with 10 per cent a maximum reached only
by the most highly developed areas.
In the past year beachfront property value has soared by up to 20 per cent.
The Land Survey Department also believes that the collapse of the Stock
Exchange is a contributing factor.
"People are choosing to invest in property and land rather than speculating
on the stock exchange, as they perceive it as a safer investment that still
provides a good return," said Mr Christodoulou chief of The Land Survey
Department. "Subsequently, demand has risen by around 40 per cent."
He said most of the demand is from Cypriots on the island, although an
increase in foreign buyers has also been noted. Current regulations limit
the level of investment by potential buyers from abroad; these include
having to obtain permission from the municipality for purchase, and a
restriction on ownership of one property per foreign family.
Loizou says that situation that will change once Cyprus joins the EU and
these restrictions are lifted. He predicts that the volume of land and
property sales will double on accession to Europe as foreign property
developers enter the market.
"At present the property and land market stands at around CYP200m,"
said
Loizou. "I expect that to rise to approximately CYP400m once the
restrictions have been lifted and Cyprus completes its accession into
Europe."
Currently, between 70 and 80 per cent of demand from foreign buyers in
Cyprus is focused on the Paphos area, with around 20 per cent in Limassol
and the rest of the market spread between the Pervolia area of Larnaca and
Paralimni.
Of those buying property in Cyprus 70 per cent are British buyers, with
the
balance made up largely of people from the former Yugoslavia, Russia and
Israel.
"The market for shops and offices is likely to see a downturn over
the next
year and possibly two, with residential properties in the cities maintaining
steady growth," Loizou said. "However, the demand for beachfront
property
and the potential for investment by foreign property developers is still
huge.
"At present Cyprus welcomes around three million visitors per year:
with
foreign investment and development of the market that figure could rise
to
Four million."
************************************************************
An Environmental Victory.
All the rubbish dumps around the island will be scraped by 2004, making
way
for state-of-the-art landfills and recycling centres thus bringing the island
in line with EU regulations.
************************************************************
Your chance to contribute to our newsletter.
If you have new or interesting information about Paphos please send it to
our editor, we will acknowledge the source of the article:
editor@paphosfinder.com
Any budding journalists are welcome to contribute their articles for regular
inclusion in our newsletter, for further details contact admin@123-asap.com
Testimonials.
Let us know what you think about Paphosfinder, we are currently building
our
testimonials pages and would welcome your comments.
************************************************************
COPYRIGHT 2002
http://www.paphosfinder.com.
ALL RIGHTS RESERVED.
************************************************************
To unsubscribe, please reply to this email with
'UNSUBSCRIBE' in subject field
|