Cyprus - General Information
Since becoming a full member of the EU on 1 May 2004, Cyprus has been something of a honey-pot for property investors. With its fantastic all-year round summer climate, fine beaches and smart new golf courses, investors have swarmed to the island over the last couple of years.
Demand currently exceeds supply as holidaymakers, employees of foreign companies and retirees compete for property. What makes Cyprus different to other investment countries is that the island has strict planning controls limiting the downside risk to prices from over-supply.
Interestingly, Cyprus is considered to be one of the safest places to live in Europe. According to European Union statistics, the crime rate in Cyprus is only 6% of the rate in the UK.
Since 1974, the island has been divided into the north (Turkish Republic of Northern Cyprus or TRNC) and the south (Republic of Cyprus). The south comprises 68% of the land and is predominantly inhabited by Greek Cypriots, and the North is largely populated by Turkish Cypriots and Turkish nationals. This division dates back to 1914 when the British formally annexed Cyprus (prior to that, Cyprus was controlled by the Ottoman Empire).
Despite periodic pressure from the UN, Cyprus remains split in two. In May 2004, the Republic of Cyprus gained membership of the European Union.
Where is Cyprus?
Cyprus is at the eastern end of the Mediterranean, just 40 miles from the coast of Turkey, at the crossroads of Europe, Asia and Africa. Cyprus (as a whole island) has a total area of 9,250 sq km and 648 km of coastline.
InvestinCyprus.com operates only in the south of the island.
Languages used in Cyprus
The official languages are Greek and Turkish, spoken by 84% and 13% of the population respectively. Other minority languages include Armenian and Arabic. With Cyprus being a former British Colony, English is widely used as a second language.
Currency
The official currency is the Euro(€) divided into 100 Cents.
What is the weather like in Cyprus?
Cyprus enjoys one of the best Mediterranean climates with approximately 340 days of sunshine per year. In general, the island experiences mild wet winters and dry hot summers. The mean annual temperature is about 20°C. There is also a short season of snow in the mountains from January to March. During winter, it is possible to sunbathe in the morning and ski in the afternoon.
| Average monthly precipitation in Cyprus |
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| Average monthly temperature in Cyprus |
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As Cyprus is a relatively small country, there is a little variation in climate from coast to coast.
