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(if you don't already receive a monthly announcement that our Cyprus newsletter has been published, you can sign up to our list here) In This Month's Issue You'll Find: A Message from Jackie (and a small note from Kim) Save £20,000 when relocating from the UK to Cyprus Let the haggling begin! What does the OGC Resource Centre know that you don’t? The Essential Resource to Buying in France How Smart helped at an amazing Grand Charity Event! Well, spring is here and Cyprus looks absolutely beautiful! I just love this season, it’s so pretty everywhere. The wild cyclamen are out, the sun is shining (well, it does that almost every day) and it’s much warmer now. Almond blossom, oranges and lemons are covering the trees, the smell of freesias and hyacinths are in the air and - oh gosh, it’s just so lovely here now. Jasmine is out, wild flowers and yellow broom are in abundance – it’s so picturesque. It’s a great time of the year to visit. It’s amazing what a difference warmer weather makes. Everyone here is always friendly, but somehow the thought of our long summer coming soon puts a bigger smile on most faces. I guess it’s the thought of all those long, lazy days, barbeques, swimming in the pool, going to the beach, living in shorts, t-shirts and flip-flops … oops, I’d better stop or you will think I never do any work. Let’s move on quickly. Last month I wrote about the petrol strike. What a nuisance that was, but luckily, it only lasted 2.5 days instead of the intended 8. We don’t want another one of those in a hurry, Paphos almost ground to a halt! The roads (oh dear, the roads) are just the same – but there’s a glimmer of hope now. The worst part in Paphos looks as though it’s finally taking shape. It even looks as though there will be walkways for pedestrians, prams and wheelchairs now – and unless my eyes deceived me today, there are going to be additional roads as well. Perhaps it will all be worth it in the end. I mentioned this in last month’s newsletter but as the holiday season is looming, it’s really important you read this if you have visitors or rental clients coming over to Paphos. I strongly advise you to get someone to meet them from the airport. It will be almost impossible for them to follow any map you have provided, because there are diversions absolutely everywhere and it is chaos. At the moment, these start from the main roundabout at the end of the motorway into Paphos itself. Right - so what else? We had the carnivals across the island last month, which were brilliant as always – especially Limassol’s which was spectacular. Not to be missed if you are here in 2011. Easter is now on its way and we celebrate at the same time as the UK this year. It’s such a happy time as it’s the island’s major annual festival. If you haven’t been here before, then you won’t be aware of the amazing decorations everywhere at Easter. We have giant sized rabbits, cockerels, chickens, flowers, Easter eggs and Easter baskets all over Cyprus. They are at every turn – on the roundabouts, at the traffic lights, in the villages - it’s wonderful, I love it. Can you imagine all this being left out in the UK and not being touched? That’s one of the things I enjoy most about Cyprus – barely any crime. Children have a fantastic time over here during Easter. The supermarkets put on all sorts of events for them, as do the villages and the municipalities. Everyone joins in and has great fun. Easter eggs are now in the shops too. We have UK eggs and also Cypriot eggs – which are quite different. The Cypriot eggs are very elaborately wrapped and they include lots of toys too. I still prefer the UK eggs as I love Cadbury’s and Galaxy chocolate – I’m afraid I just can’t resist them. What else? Oh yes, talking about chicks and children brings me nicely onto Kim and little Sienna. They are both keeping well, and “yummy mummy” Kim doesn’t have too long to go now before her beautiful daughter will be born. So here she is…
This month I will be talking about the cost of living in Cyprus – a matter of great interest to you I’m sure. Also there is the offer of a FREE, indispensable report from Smart Currency dealing with currency issues when relocating abroad. I tell you about a wonderful charity event that I attended, discuss that great British taboo – haggling – and provide info about the wonderful OGC Resource Centre. Finally I round off by talking about how to insure your property…Much to take in, so without further ado I will let you read on! Kind regards, Jackie and Kim Cyprus Buying Guide
How much does it cost to live in Cyprus? Many expats living in Cyprus are having a moan and groan about the cost of living here now – a lot of these complaints are due to the poor performance of the pound and bad exchange rates. A huge number of expats living here are retirees - and almost all have found their incomes reduced by around 40%. I think you’d probably have something to say if your income was cut by this much too. Perhaps you should check out www.smartcurrencyexchange.com or call locally on (00 357) 26 030 213– they are really nice people and may be able to help you reduce this risk by planning in advance. The cost of living also depends on your lifestyle. If you prefer to eat out a lot and shop for UK ready-made meals, then yes, your monthly outgoings are going to be high. But – if you do what I do, eat fresh produce from local growers and support good, family-run restaurants where the prices are still fair, you will find your money goes further. Let’s start with giving you an idea of the cost of food. Incidentally, all these prices are for a kilo. Pork is always cheap. Just recently it was on offer for less than 3 euros. Chicken is more expensive, particularly chicken breasts, which hover around 7-8 euros. Sirloin steak is about 12 euros; best mince is about 6-7 euros. Moving on to fruit and vegetables – buy whatever is in season and you will really find the bargains. Buy imported and you will pay through the nose, it’s as simple as that. Again, the prices are per kilo. This week I bought tomatoes at 60 cents, cucumbers at 80 cents, oranges at 50 cents, potatoes at 50 cents, mushrooms at 2 euros 99 cents, onions at 40 cents, strawberries at 1 euro 75 cents a large punnet, apples at 1 euro 10 cents and my spring onions were given to me free. There are several shops now who specialise in importing UK goods and these outlets are usually much cheaper than using supermarkets. One example I noticed was a Sharwoods Chicken Tikka sauce – in the supermarket it was 5 euros 75 and in the UK store is was only 2 euros, which was a huge saving. My advice is if you still love your Marmite, HP Sauce and Heinz Baked Beans, then the UK stores are definitely the place to shop for these. It’s also best to buy local sugar (about 85 cents), flour and bread (about the same) as this is always cheaper than imported goods; for example, Waitrose flour is available - but you will pay 3 times more. Likewise, a loaf of branded bread from the UK is very expensive too. I never understand why people don’t just buy local bread, its fresh every day and absolutely delicious! Oh, and I forgot to mention, that we do have “Buy One Get One Free” over here. Personally, I always look out for the offers, and by doing this, I keep my shopping bill as low as possible. If you smoke, tobacco is very cheap in Cyprus. Local cigarettes are about 2 euros 70 cents; imported cigarettes are about 3 euros 40 cents a packet. Golden Virginia rolling tobacco is about 4 euros 50 cents for a 50g pouch. The local beers, Keo, Leon and Carlsberg range from 1 euro 85 cents for a pint to about 4 euros in the 4 star hotels. Cypriot wine such as Aphrodite or Othello is about 3 euros 40 a bottle. Cyprus brandy is about 6 euros a bottle. Clothes are expensive here. Although we have Marks and Spencer, Peacocks, Next and so on, all clothes have import tax on them so they are priced higher than the UK. Council tax averages around 300 euros a year – yes a year - depending on where you live. That’s extremely cheap compared to the UK. Also, we don’t have television licenses to pay – but if want UK TV, you will have the cost of satellite services. Electricity prices are high. I’m going to be very honest here; we have the highest in Europe right now, because there is no competition. Bear this in mind if you are running a swimming pool or air-conditioning. Car tax is really low, my little car is only 28 euros a year to tax, and my husband’s HRV is 54 euros a year. Car insurance is about the same as the UK. There is currently no mains gas - bottles are used, which are about 9 euros for the 10kg size. Well, that’s it for now. If you want to know the price of anything on the island, just email me - it’s always great to hear from you. And if you need any referrals to help you on your way to moving here, then just fill in the short form at: You can also talk to the OGC Resource Centre team at 0207 898 0549, who will be delighted to help you with any questions you may have about Cyprus.
Save £20,000 when relocating from the UK to Cyprus The mere fact that you are reading this means that you may be thinking of moving money abroad for one reason or another. There are so many things to think about that sometimes the most obvious ones get overlooked. But what can be more important than making sure that, when transferring your money abroad, you get the very most money that you can to your destination? The alarming thing is that many people are unaware that they have any options or control whatsoever in this process. They pop into their high street bank, give details of where the money should be transferred to…and ultimately get ripped off. Why do I say that? Well, the truth is that you do have options and there are ways in which you can save yourself money - and sometimes huge sums of money. Smart Currency Exchange Ltd has a new, FREE report out that shows you step by step how you could save yourself as much as £20,000 when relocating from the UK to any overseas destination and making an international payment. Incidentally, an ‘International Payment’ is any payment that you need to make where one currency is exchanged for another and the exchanged funds are then transferred to an onward destination. This report will reveal the choices that are readily available and will explain how much you actually stand to lose unless you understand and use your options. If you go directly to your bank as opposed to an International Payments Specialist to exchange and move your money, you could pay up to 4% more due to poor exchange rates alone. Work it out: on each £100,000 that’s an extra £4,000 more paid for absolutely no reason. In most cases, people who are moving abroad (rather than just buying an overseas property) will have lost out on even more money as they not only move funds for property, but often move their entire savings to their onward location. This report will explain in clear, layman’s terms:
It also sets out how it is possible for specialists to offer better rates that the banks, along with an explanation of the ‘Interbank rate’. Plus you will understand how to set about choosing the right currency company – one that you can trust and rely on. Remember, you can lose even more money by failing to plan a currency strategy in advance. Part of the report includes a detailed forward strategy for sending your money abroad. Why do you need a strategy, you may ask? The short answer is that yet again it may well save you money! Much of the information in this report may surprise you and it may also open your eyes as to how you can save yourself a significant amount of money – and who doesn’t need to do that today? For your copy please go to: If you haven't opened a Smart account yet it’s the number 1 recommendation that the OGC makes when it comes to saving money and avoiding unnecessary risks. Call on freephone 0808 163 0102 (+44 0207 898 0541) or fill out the online Account Form at:
When does a cheeky offer become a silly one, or – even worse – an insulting one? That’s the question that needs to be the first you ask yourself if you decide that you are going to offer less than the asking price. The last thing you need to do is to rush in with guns blazing and offend anyone. Neither, however, do you want to pay any more than you have to… Each country has a different take on the thorny issue of exactly how much lower you should offer than the asking price. Take Spain for instance. Although property prices have fallen – and some developers are really desperate to sell - most properties are realistically priced. That does not mean that you can’t make an offer well below the asking price, and here’s where a really good local estate agent could advise you. An agent with extensive knowledge of both the rules and regulations of the country’s property laws plus of the local vendors is worth their weight in gold. They will know local price trends and they will also have a good insight as to how the property game is played in their neck of the woods. Both the vendor and estate agents need to know that you are a serious buyer and not just wasting their time so it is important to get organised before you make an offer. If you have all your ducks in a row in terms of what is needed to buy - things like a bank account opened in Greece, a NIE registration in place in Spain, a mortgage agreed to in principle, a good Experian credit reference to hand - they will be far more likely to take an offer from you seriously. Even if it is lower than another offer they may receive, the fact that the sale will probably go through quickly will weigh in your favour. Another thing to bear in mind is that, although the vendor may not be prepared to accept a lower offer, they may well be prepared to consider other incentives to encourage you to buy. Things such as paying your closing costs, landscaping your garden, providing white goods in the kitchen…if you don’t ask, you don’t get! Remember, if you are buying from a Brit who will be moving the proceeds of the sale back to the UK, the exchange rate from euros into sterling may be more favourable than when they bought so they can perhaps afford to drop their price and still make a profit… It’s worth remembering that Brits are no longer buying in huge numbers in countries such as Spain, France and Portugal since the recession of 2008/9 and this has left a hole in the market. The recession also meant that a lot of buyers got their fingers burnt, buying at the top of the market and seeing the value of their properties plummet. What does this mean to you? It means that as a buyer you may be a fairly rare species and that fact allows you to haggle. It also means that you need to consider your purchase carefully. You don’t want to be one of those buyers with burnt fingers! So…to summarise:
Good luck! If you need any help at all, for instance with recommendations on estate agents, Financial Advisors, mortgage providers etc please just phone the OGC Resource Centre at 0207 898 0549. We have a number of property professionals that we have either sourced or who come highly recommended by other OGC readers. Alternatively, get the Cyprus Buying Guide by going to:http://www.CyprusBuyingGuide.com/guide.htm
How can you be sure your holiday home is protected? Over the years we at the OGC have spoken to very many people who have bought property abroad or are in the process of doing so. One thing that has become very clear to me is that there are a multitude of things to think about…So many in fact that sometimes things get overlooked or done at the last moment, without proper thought or planning. One such aspect of the whole property process is insurance. Often people have taken out a policy on the advice of a local insurance agent and then, when things go wrong, discover that they are not covered for an eventuality. Things like flood and fire, or perhaps accidents that happen when their second home is rented out. They haven’t read the fine print, or, even worse, in many cases they can’t read it – it’s in a foreign language! Let’s face it, that is far from ideal but at the time they thought there was no alternative. Have you heard about Hailstone cover? I have a friend in Cyprus who experienced a massive hailstone storm that destroyed her garden furniture, car roof and smashed a house window. Who would have thought that this could have happened in Cyprus? When she went to her insurance provider she discovered that she was not covered. Needless to say she has switched to another provider that does cover hailstones! The OGC Recomendation Their cost effective policies provide far wider cover than most standard European policies. Add £5
What does the OGC Resource Centre know that you don’t? The OGC Resource Centre team are available to assist people with the many questions that arise when buying property and/or moving abroad. They work to help educate overseas property buyers on how to avoid pitfalls, minimise risks and save money! Talking to hundreds of people on a daily basis means they we have come across most of the problems that can arise and in many cases have been able to help. The OGCers have many relationships with helpful experts that may be of benefit to you, some of whom they have sourced or used and others that come highly recommended by other OGC readers. We can put you in touch with:
Please think of them as your 'personal assistants' to buying or investing in property abroad, or to helping you with the many questions that arise when you seek to either purchase property or to move abroad permanently. They don't charge the service as of yet, so please take advantage of this while they come at no cost...just phone 0207 898 0549 – there is no catch, I promise! Here’s what a happy OGC reader has to say: Fill in our OGC Resource form at: http://www.CyprusBuyingGuide.com/requirementsform.htm The Essential Resource to Buying in Cyprus This is what Eric and Mary White wrote about one of the guides: How Smart helped at an amazing Grand Charity Event! On the 26th February 2010 Peace and Harmony Freemasonry Lodge of Paphos held a Grand Charity Event and raised almost 24,000 euros for "Help for Heroes", www.helpforheroes.org.uk in the UK.I was lucky enough to be there on this incredibly exciting night, so I thought you might like to hear how it went! But first of all - what is the Charity for? Well, “Help for Heroes” is all about our men and women of the Armed Forces. It’s about Derek, a rugby player who has lost both his legs. It’s about Carl whose jaw is wired up so he has been drinking through a straw. It’s about Richard who was handed a mobile phone as he lay on the stretcher so he could say goodbye to his wife. It’s about Ben, it’s about Steven and Andy and Mark - it’s about them all. They are our heroes – and Smart is very proud to have been involved with this event. Everyone who supports "Help for Heroes" is helping to change the world. All profits raised are being donated to the charity, which in turn will use these funds to transform the lives of wounded service personnel. So what happened on the night? Well it was unbelievable! The British High Commissioner was in attendance, along with many other guests. Apart from superb food and a fabulous venue, much to the delight of over 400 guests, the best of Cyprus entertainment were there, including Blue Jar, Ronnie Barrone, Neil James, Ade Webb as Robbie Williams and the diamond diva, Stevie Dean.
The event promised surprises - and they were certainly delivered! A telephone call from the manager of Status Quo was received during the evening. He added that whoever was the successful bidder for the guitar would also receive a trip to Australia to see Status Quo play. What's more, VIP back-stage passes would also be included to meet the band, whose tour dates will be released shortly. The atmosphere was electric during the bidding, it was so exciting! The successful bidder and his wife, who are both retired, are huge fans of the group and are extremely excited about their future trip. They said jokingly, “We don’t know what our children are going to say when they find out!” Another ecstatic couple won the top raffle prize of a week's holiday for two at a luxury apartment in Hong Kong. Numerous other prizes included golf items from The Royal Household, a €150 voucher for car servicing, a luxury designer “Help for Heroes” cake, and 2 days out sailing from Latchi. An original designer-dressed “Help for Heroes” teddy bear alone raised €150 euros and was given to young Grace Clarkson for her contribution to the evening – appropriately, she said grace. Smart are very proud to have been involved; my husband and I helped with all the PR for the event and Smart will be transferring the money back to the UK on behalf of the organisers, Heather and Mervyn Matthews, who said, "We sincerely thank all those who so generously contributed to the outstanding success of this event. The final total raised is looking to be almost €24,000. The money will be officially presented to a representative of the charity and we will let you all know when this has happened." There is no doubt this was a night to be remembered! On Sunday, we’re off to Sri Lanka for a long-awaited holiday – I’m really excited! We’ve completed our renovation project here, sold the villa and moved in the last month – so at last, it’s time for a rest. There have been no a “proper” holidays for 4 years – I just can’t wait! Exciting news – I’ve just started my Cyprus blog – have a look at http://cypruspropertybuyingguide.blogspot.com there’s loads of useful information about how to sell your property and I’ll be talking about the renovation project too. Until next time, keep your emails coming and remember – I live in Cyprus, so I can help you with anything you need to know about living, working or moving over here – or just coming on holiday. Until next month, take care, keep smiling and keep emailing me – it’s always great to hear from you! Take care and best wishes, Jackie (and Kim) Cyprus Buying Guide (if you don't already receive a monthly announcement that our Cyprus newsletter has been published, you can sign up to our list here)
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million worth of essential public liability cover, which is important for anyone who lets their property - particularly with today’s trend toward litigation - and you have truly comprehensive cover at a very competitive price.