My experience with the Euro in Cyprus

I went to Ayia Napa at the end of April and was looking forward to experiencing spending the Euro there for the first time, at the time the exchange rate was at it’s lowest, at the airport I exchanged some English Pounds and got a rate of 1.18, which was terrible, so already I knew it would ‘seem’ more expensive than previous, the other change was going to be seeing if places were profiteering from the change.

I’d read beforehand that places had to show dual pricing, Cypriot Pounds and the new Euro rate so I didn’t think they would be able to profiteer.

It appeared though that instead of converting the old Cypriot pound to the new Euro amount, it was the other way round, deciding on a euro rate and working backwards to give the Cyprus pound figure.

A pint of local beer, KEO, Carlsberg or Leon was around 3 euros at most places in Napa which at the 1.18 rate worked out at £2.54 a pint, compared to last year when a lot of places were charging CYP1.50, approx £1.80.

I think the main influence on it seeming expensive is the fact the euro rate is rubbish at the moment, the same time in April 2007 the rate was 1.47, so there you see that lovely local pint would have still been more expensive (£2.04) but not as much as 40%!

It will be interesting to see how the euro affects Cyprus by way of Tourism considering over 3m people visit the island from the UK alone, I can imagine those living on a UK pension in Cyprus are feeling the pinch a bit with the rate as it is.

It could be that it’s just expensive like this in Ayia Napa, I will be visiting again in September so will have to venture out and see.

Cyprus crossing reopens

Greek and Turkish Cypriots have reopened a major crossing in the divided Cypriot capital of Nicosia.

Ledra Street, which had come to symbolise the partition of the island, was declared open by local officials.

It was split in 1964, during an outbreak of violence between the ethnic Greek and Turkish communities.

Click here to read the BBC News article

Cheap Cyprus Holiday

Well last week I booked a cheap holiday to Cyprus for the end of April with Olympic Holidays

8 nights, mainly because the flight going out is late Saturday night, staying at Anthea Hotel Apartments in Ayia Napa, we were just looking for a very cheap break to get away from the English weather and get some sun, and at £162 this is a bargain considering some of the cheapest flights we looked at were around this price!

Now I just can’t wait to go, it will be interesting to see how the Euro has affected prices out there but with the Euro rate having dropped so much against the English Pound then it’s bound to seem expensive anyway, so maybe that cheap bottle of KEO or LEON isn’t going to be so cheap anymore 🙁

Cyprus Lagers

Cyprus leaders to discuss reunification

Leaders of Cyprus’s Greek and Turkish communities agreed on Friday to relaunch reunification talks and to open a barricaded street in Nicosia that symbolises the island’s division.

It was the first meeting between Greek Cypriot leader Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat since Christofias was elected to the Cypriot presidency last month and raised hopes for reviving talks that are also crucial for Turkey’s bid to join the European Union.

More on this article can be read here – Reuters.com

Napa Plaza Hotel, Ayia Napa Cyprus

The Napa Plaza hotel is probably my favorite hotel in Ayia Napa, it is set in the heart of Ayia Napa next to the monastery which is located perfectly for the Square with all the bars and clubs and just a few minutes walk from the beach.

The hotel has 221 rooms and as the official site says it is built around a magnificent courtyard. The outdoor lagoon style swimming pool lies in the centre of this courtyard amidst richly Mediterranean landscaped gardens with palm trees, olive and citrus trees.

Napa Plaza Hotel Ayia Napa

The hotel is very clean throughout and the rooms are of a great standard, I couldn’t actually fault the hotel.

Attached to the hotel is the very popular Pepper Bar, which became my favorite bar in Ayia Napa, playing some great funky house music as the nights went on and they serve some fantastic cocktails.

Pepper Bar Ayia Napa

More rain and Snow in Cyprus

The heavens opened up on Cyprus yesterday afternoon, with torrential rain in many parts of the island and even snow on the mountains.

In Protaras and Ayia Napa the scene was of grey skies and rain.

Flooding was reported in some parts of Larnaca and Nicosia.

The wet weather is expected to continue until Wednesday, with evening temperatures on the coasts dropping to just 7oC.

The wet weather is welcome news for the water board after reserves have been running low after a lack of rain.

It’s good that Cyprus is getting some rain like this, a couple of days rain will do no harm and as the article says will help the water reserves of the island.

Swiss mortgage in Cyprus?

I came across this story of a couple who have bought a property in Cyprus using a Swiss Mortgage.

Lorraine and Tommy Duncan are soaking up the sun in their Cyprus holiday home – thanks to a Swiss mortgage.

Lorraine, 41, and Tommy, 55, had fancied taking a leap on to the foreign property ladder for a while.

They were unsure how far their modest budget would stretch but after an inspection trip with Atlas International, they have snapped up a two-bed apartment in Cyprus for just over £100,000.

The Duncan’s put down a 20 per cent deposit on the property, which cost £82,915CY (£105,649).

They are paying the balance by taking the unusual step of opting for a mortgage that will be repaid in Swiss Francs.

Lorraine said: “Because I’m a mortgage advisor I knew that taking a mortgage in Britain or in the country where you’re buying isn’t always the best option.

“The Swiss mortgage has a low fixed rate of interest.”

You can read the rest of the story at sundaymail.co.uk

British soldiers charged after bar brawl in Ayia Napa

Nine British soldiers have been charged following a bar brawl in Ayia Napa on Friday. The men had been celebrating what is known as “millionaire’s weekend” – they had received their last pay packet before their tour of duty on the island was due to come to an end next month.

Five people – three soldiers and two Greek Cypriots – were injured after tables, chairs and bottles were thrown in a fight in the island’s Bedrock Inn. One was reported to have been taken to Larnaca general hospital suffering from internal bleeding and one of the soldiers suffered a fractured skull.

Bedrock Inn Ayia Napa

For more information see The Guardian

End of an era for the Cyprus Pound

TODAY is a landmark for the Cyprus Republic. It is the last day that the Cyprus pound will be in circulation. From tomorrow, it will cease to be the island’s medium of exchange, and all transactions will have to be paid for in euros.

People will still be able to exchange pounds at the banks until the end of June, after which only the Central Bank will be allowed to carry out these transactions – for another six to eight years. So nobody need worry about not being able to recall where they had hid those £20-notes they were saving for a special night out.

It is a sad day as the pound has been the symbol of the Republic’s prospering economy, a strong currency that held its ground even at the most difficult times. It may have been occasionally propped up by Central Bank intervention, but this was the exception rather than the rule.

Read the rest of the article at Cyprus Mail