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Cyprus Property Blog by Cleo

Buying Property in Cyprus is a great investment choice and we discuss various aspects.

Cyprus After the Explosion in Limassol

First of all, we would like to express our sincere condolences to those who have lost their lives in the sensless tragedy that occured this week. The negligence of leaving 98 containers full of munitions improperly stored and exposed to the elements causing it to explode killing 13, injuring more than 60 people and causing damage to hundreds of homes in the Limassol area has caused an uproar and intense anger at the government.  There have been many tears shed over the loss of innocent life and peaceful protests in the streets. The community has united to help one another and lend a hand to those in need from donating blood at the hospital to offering places to stay for those whose homes have been damaged. The effects have hit home very hard and will be felt island-wide for some time.

In addition, most of you know that the main power station has been destroyed resulting in power cuts throughout the island. Every day power will be cut in each area of Cyprus for 2 hours although the Electricity Authority says that power supply will improve quickly although that is yet to be seen.  Summer is the biggest usage period with the most amount of people on the island so there is simply not enough power to supply everyone at regular usage. They are asking that everyone tries their best to conserve energy especially with their air conditioning. Luckily, hospitals and hotels will have a continuous supply.   This has been the biggest hit to the economy since 1974 so hopefully those hotels will continue to get their usual summer bookings.  All businesses have already been affected from lawyers to banking institutions to hair- dressers having to send employees home early and reschedule appointments due to the power outages.  At a time when Cyprus is desperate for an economic boost it was blind-sided by this and we hope and pray that the the economy can sustain.  But, we hope even more so that the families of the victims have the strength to get through this difficult time - may they all rest in peace.   

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Published Friday, July 15, 2011 2:21 AM by Cleo Shahateet

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Cyprus Property is Hot! Now more than ever. There are over 20 million northern Europeans (European baby boomers) that have retired in the last few years which is a great number and many will be British. Many have been waiting for the financial crisis to past before they make the move to Cyprus. With warm weather, low crime rate, low cost of living in Cyprus and English speaking population, do you think Cyprus will have enough properties for every one?