- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Island of lost dreams for some

CYPRUS was the subject of a BBC World News Fast Track episode broadcast on the 15th June that reported on the impact of the financial crisis on foreigners who had chosen to live on the island.

In her opening remarks reporter Theopi Skarlatos explains how the warm climate, the relaxed lifestyle and a mostly English-speaking population had made Cyprus the perfect place for foreigners to set up home, especially over the last ten years.

But when the crisis hit the island it sent shockwaves everywhere and left some people wondering whether their life in paradise could exist for them for much longer.

The episode includes interviews with a Belgian couple who decided to spend their retirement in Cyprus, myself (Nigel Howarth), Martin Howe – a solicitor, Irena Georgiadou from the Cyprus Ministry of Finance, a neighbourhood watch group from the Paphos village of Pegeia, an Aphrodite Hills resident and Lucas Kitrou – a real estate manager.

Readers please note that some of the restrictive measures on financial transactions referred to in the report have been eased and that all funds entering or leaving Cyprus from abroad after 15 March 2013, are not subject to the restrictive measures.