WORLD SIXTEEN (World 16)
Cyprus
Cyprus is one of World 16’s favorite countries. It has a very well established property market and has been extremely popular over the last few decades with property investors and UK retirees looking for a place to live in the Sun.
Cyprus works very well with the fractional set up because of a few factors. Firstly, the climate. with circa 340 days a year sunshine, it means that even holiday weeks that are so called “off peak” it is still very likely that the weather is going to be nice, meaning that there are lots of useable weeks for renting and using for holidays.
One of the most attractive things about Cyprus is the amount of similarities to the UK. To name a few, they drive on the left hand side of the road, a large amount of the population speaks English and the law system is based on the UK system. These things may seem trivial, but when doing business in another country they can be very useful.
Cyprus has been vastly improving its road systems and infrastructure, which becomes apparent on your very first visit to the island.
This Mediterranean island has very ambitious plans to improve its image and to attract more people. The plans include building three new marinas in Paphos, Limassol and Protaras which would be aimed at attracting boat yielding businessmen and the cash they possess.
- Full name: Republic of Cyprus
- Population: 807,000 (combined) (UN, 2004)
- Capital: Nicosia (Lefkosia to Greek Cypriots, Lefkosa to Turkish Cypriots
- Area (combined): 9,251 sq km (3,572 sq miles)
- Major languages: Greek, Turkish
- Major religions: Christianity, Islam
- Life expectancy: 76 years (men), 81 years (women) (UN)
- Monetary unit: EURO
- Main exports: Clothing, potatoes, cigarettes, pharmaceuticals
- GNI per capita: US $16,510 (World Bank, 2006)
- Internet domain: .cy
- International dialling code: +357
Did you know?
The name Cyprus is derived from the Greek word for copper. This has been one of Cyprus’ major exports over the years.