 Coralo Hills, Paphos
 - Coral Bay, Paphos, 11 August
Many people in the Coral Bay area wondered what the low flying helicopter was up to on Monday.
Here is the explanation and some photos of the daring aviator.
Deposits of dust and electrically conducting particles form on the insulators of high-voltage power lines can compromise the insulating power of the ceramic material of insulators and trigger discharge arcs which damage the line and the pylons.
 With house prices falling in U.K. We are wondering how much of a downturn ,if any, there is in the Cyprus property market.
If I was buying here I would offer 20k Euros less than the asking price.
The ‘former soviet union’ economy is booming, so I hear.
It is a trait of Cypriot business that when trade falls off they raise prices to overcome the shortfall, rather than the UK practice of reducing prices to stimulate sales.
Property has gone up 20% just with the poor exchange rate! That’s without any increase in house values!
Cyprus Property Help & Advice Centre™ ® ©
The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu
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Cyprus Mail article
A FEMALE lawyer has been sentenced to 30 days in Cyprus state prison, after being found guilty of traffic violations by Paphos court on Tuesday.
The lawyer was found guilty of three traffic offences, and has a string of traffic convictions in her past.
Jittery Paphos lawyers, shocked that one of their own could be sentenced to serve a prison term, were disbelieving of the outcome.
“I shouldn’t be speaking to the press,” said one lawyer, “please don’t print my name. I can’t believe she is going to prison. It’s ridiculous, she is a lawyer,” he said.
The Cyprus Ministry of Commerce, Industry and Trade awarded the construction of the Paphos marina contract to the consortium made up of Cybarco, Francoudi & Stephanou, Leptos Group (via Pandora Investments PND.CY) and J&P Avax, J&P, Cads Holdings and Athena.
Under the terms of the agreement, the marina will be managed by the joint venture for a period of 90 years, with the annual lease reaching EUR 3.8mln (received by the State). The marina, which will be constructed at Kissonerga (Paphos district) is estimated to cost EUR 64mln (excluding other development projects nearby) and will be completed in 4 years.
 The Editor saw this scenario and felt that it was the basis of a wider article explaining this particular issue and looking at the present mortgage position in Cyprus.
“We have contacted the developer and have been informed by Mr. ***** that the mortgage is there, which is not due to anything outstanding to the bank but purely so that any buyers on the project can borrow from the bank without needing any extra security or any additional cost. This additional cost is usually 1.8% of the loan amount per annum.”
 When Cyprus joined the EC there was an announcement that the requirement to obtain a Permission from the Cyprus Council of Ministers would be removed in 2009.
The idea was to protect the Cyprus Property Market and Cyprus Residents from non resident investors. How the Cyprus Government might now wish that with the falling demand and the credit crunch that this decision had not been taken and that Cyprus Property Inc., had sold all it had when it had the chance.
The Cyprus Informer wonder if this requirement might be relaxed early to stimulate demand and sales?
Cyprus Property Help & Advice Centre™ ® ©
The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu
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It is very tempting to purchase a large plot in an Agricultural Zone, Cover 10%, build your own house and then divide your plot.
The idea is to recoup the cost you laid out on the land by selling the other half as a building plot. Or even subdivide into smaller plots and turn a profit - become a developer.
In Agricultural Land, you are allowed to build ONE housing unit, whether you have public access or just a right of passage.
A reader of the Cyprus Informer has emailed us with a warning which anyone thinking about doing this must be wary of.
“Water is precious and we’ve got to realise that water’s not always there. You need to save it,” says The Cyprus Informer
When we wake up we will have to use timers to take two minute showers, and collect the water in buckets so it can be re-used in the garden.
“You can’t wash your car, you can only clean your windscreen and wing mirrors and side windows. It’s a daily impact really.”
Cyprus entered the Euro in January 2008 and Cyprus banks now offer loans and mortgages in euros at interest rates set by the European Central Bank.
On 26 March, The President of the European Central Bank, Jean-Claude Trichet, dashed hopes of a cut in European interest rates any time soon.
He was speaking after a meeting of the Bank’s Governing Council which left the ECB’s key rate unchanged at 4%, as expected. Mr Trichet gave a firm indication that the bank is likely to keep interest rates unchanged for some to time to come.
The Cyprus Informer says “it is not a great time to buy off plan right now with the build in of big commissions and VAT which have to unwind. That might not unwind by appreciation over the next 2 years or so as the Cyprus market currently comes off boom if you wanted to sell quite quickly. But looking for the right Re-Sale where the seller realises that current off plan prices include commission/VAT and he/she must discount the asking price below current off plan prices to get a sale. A good property in that situation has some margin in more difficult times. And make sure that you get your Title Deeds with your Resale. No chance on Off Plan !!.
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