# Should I stay or should I go???



## Steven Lindsey (Jan 17, 2009)

Hi.

I have been trawling the internet and I have came across this site, looking whether or not to move to Cyprus or stop in UK.

My Dilemma
I currently own a construction company with over 40 employees until last week we had to lay many off due to the lack of work, since the stress of that I am considering going for an easier life abroad but don’t just want to sit around doing anything as would like to set up some sort of business, i.e. maintenance repair, tourism or I am into Jet-Ski's, I probably could scrape together £50k and leave the properties I have here rented

Any feedback would be much appreciated

Steve


----------



## BabsM (May 24, 2008)

Hi Steven and welcome to the forum. 

Ah Cyprus v the UK mmmm tough question! Personally I would not go back, I love the more laid back, less stressful lifestyle that my husband and I enjoy now. But it isn't for everyone so it is right to think carefully.

I know you didn't ask, but lets start from the beginnng! I don't think starting a construction business in Cyprus, just at the moment is a good idea, There is a huge downturn in the property market and none of the constructors here seem to be doing too well as people aren't buying. Lots of developers are finishing off their current projects to keep their men employed but few new projects are being started. There are a lot of finished properties laying empty and a lot of unfinished ones going nowhere and without buyers......

Tourism has been a mainstay of the Cyprus economy but because of the prices of flights and more recently the credit crunch and the strength of the Euro, Cyprus' tourist trade has suffered, particularly last year. There are concerns and the government is trying to help the tourist industry but the number of tourists coming to Cyprus is down and the money they have to spend is down, so a business aimed at tourists would need careful thought and planning.

Maintenance/repair is a possibility. There are lots of Property Management companies out here competing for business and there are quite a few maintenance companies but there are also quite a few cowboys. I think viability would depend what you are looking to maintain/repair. 

Jetskis. A possibility in tourist areas, perhaps? In the Agia Napa area jetski rental is popular and there are quite a few companies competing with each other but in the Larnaca area it looks as if one, maybe two firms have the monopoly. I don't know about Limassol or Paphos. I suggest you come over and look at what is availableall over the island.

You should look into liability- there was a big jetski accident and someone died a year or so ago. IIRC The owners of the jetski rental company got hammered in court because they were deemed to be partly responsible, I can't remember the details but I think they failed to train the 'driver' properly or check his ability to drive or something and I think there was a question about maintenance of the equipment.

Hopefully this will give you some food for thougth. Good Luck


----------



## Veronica (Apr 5, 2008)

Steven Lindsey said:


> Hi.
> 
> I have been trawling the internet and I have came across this site, looking whether or not to move to Cyprus or stop in UK.
> 
> ...



Hi Steve,

As Babs has said construction and tourism are both down with a lot of companies who in the past have enjoyed the good times now competing for the little work there is out there.
I would certainly not recommend a jet ski business as there are already a lot of them and last year when we went to the toruist areas it was noticable that there were many jet skis standing idle at the time when they should have been in great demand. Pleasure boat companies have suffered too and some have gone out of business. We found that if we went to the harbour shortly before a boat was due to leave you could get half price trips because the boats were almost empty and they were desperate to fill them.
As far as construction work is concerned I think that the way to go is in renovation and updating older houses. You talk about leaving your properties in the UK rented so I take it you have more than one. Maybe you should consider selling at least one to give you the capital to start up over here by buying an old house, renovating it and then selling it on. There are many older Brits who have been here a long time and now want to return to the Uk to be close to family in their later years and many of the houses they are selling are in need of TLC and updating by now so can be picked up for a sensible price. Whatever you do decide to do make sure you have enough money behind you to live on for at least a year (preferrably 2 years) so you can ride out the present economic crisis.
The forecast we are getting from people in the know is that this year will be as bad as last year, maybe even slightly worse then things will improve again starting from next year.
I would still however say Cyprus is better than the UK if you can afford to come. The lifetstyle and climate more than make up up for any little annoying things and if yo u are sensible and shop like the locals and dont go mad eating out every night or drinking like a fish it is cheaper on the whole to live here than in the UK.
Good luck with whatever you decide to do.

Veronica


----------



## Monty (Jun 9, 2008)

*Property Management*



Steven Lindsey said:


> Hi.
> 
> I have been trawling the internet and I have came across this site, looking whether or not to move to Cyprus or stop in UK.
> 
> ...


 Hi Steve
I am in complete agreement with Babs & Veronica. On the Maintanance side i heard on the grapevine that a business was for sale that is affiliated to a rental company, that could be a option for you to buy an established firm rather than setting up another one,.
Regards
David


----------



## Steven Lindsey (Jan 17, 2009)

thanks for the information, David if you have some details I would interested in looking at them at least, we currently carry out a lot of social housing repairs, extensions, major referbs, but to be honest, I was rather looking to reduce what I do in that field, I am in my late thirty’s and since I was 19, I have done in excess of 100 hr weeks, just seam to have woke up and realized that this is not the way I want to continue, next ill be 65 and in the same boat, it really hit in when the work / cash flow turned, i have a wife and a child about 7 what is the schools like, to be honest i could rumble up some extra cash should i sell a house, but was going to rely on that for some income, the reason i looked on the lines of jetskis is that it is go home of a night and forget, (and we use our skis every weekend and enjoy the sport)
do you know the cost of a long term rental ie year or two 4 bed, perhamps paralimni

thanks again

steve


----------



## Veronica (Apr 5, 2008)

Steven Lindsey said:


> thanks for the information, David if you have some details I would interested in looking at them at least, we currently carry out a lot of social housing repairs, extensions, major referbs, but to be honest, I was rather looking to reduce what I do in that field, I am in my late thirty’s and since I was 19, I have done in excess of 100 hr weeks, just seam to have woke up and realized that this is not the way I want to continue, next ill be 65 and in the same boat, it really hit in when the work / cash flow turned, i have a wife and a child about 7 what is the schools like, to be honest i could rumble up some extra cash should i sell a house, but was going to rely on that for some income, the reason i looked on the lines of jetskis is that it is go home of a night and forget, (and we use our skis every weekend and enjoy the sport)
> do you know the cost of a long term rental ie year or two 4 bed, perhamps paralimni
> 
> thanks again
> ...



I think you will find the business David mentioned is in the Paphos area so if you want to be over on the East Coast it wont be any good for you.
As for rentals do you want a villa or apartment?
For a 4 bedroom villa you will struggle to find anything under €1,000 pcm
a 3 bedroom you need anything from €700pcm.

regards Veronica


----------



## Monty (Jun 9, 2008)

Hi Steve
For that side of the island Babs is the one to hear from, The business in Maintanance is in Pafos that is every thing from pool cleaning to doing the garden and possible airport pickups to fixing the plumbing, Ref schools if you take half an hour going through some of the threads posted every question will have an answer on schools, bills & wages. If you cant find any thing ask Babs or Veronica they can help, failing that somebody will know
Ref Jet skis i have never been on one, . so im afraid can not help there.
Regards
David


----------



## woodsym1 (Dec 24, 2008)

i am coming back to the uk -as here in cyprus i have now had enough -expensive -is not the word -also after much a long debate with friends and family here the future here is bleak!! as is any were in the euro zone and if you have £50,000 hold on to it....cars are over priced -the locals cant drive the roads are awful the dust is bad -the only nice thing is the sun !! look at a lot of shops -they are up for rent !! maby go invest out of the euro zone


----------



## Veronica (Apr 5, 2008)

woodsym1 said:


> i am coming back to the uk -as here in cyprus i have now had enough -expensive -is not the word -also after much a long debate with friends and family here the future here is bleak!! as is any were in the euro zone and if you have £50,000 hold on to it....cars are over priced -the locals cant drive the roads are awful the dust is bad -the only nice thing is the sun !! look at a lot of shops -they are up for rent !! maby go invest out of the euro zone



Couples with young children often struggle over here as you do not get the assistance that familes get in the Uk.
It is never a good idea to jump in with both feet without really looking at every angle.
However as you have only been over here for a few months it would appear that you didnt do your homework properly before coming over if you are already looking at going back.
Well at least you can say you gave it a try and perhaps you can look at it as having been an adventure. 
Who knows maybe in a few years time when the € v £ has stabilsed and your children are a bit older you might feel like giving it another try.

Good luck 

Veronica


----------



## Monty (Jun 9, 2008)

Veronica said:


> Couples with young children often struggle over here as you do not get the assistance that familes get in the Uk.
> It is never a good idea to jump in with both feet without really looking
> 
> 
> ...


----------



## Steven Lindsey (Jan 17, 2009)

Again all thanks for your views, however, im still intrested, but i may need take to look at few avenues, im not one to leave things to chance, Veronica you mentioned 

"As far as construction work is concerned I think that the way to go is in renovation and updating older houses. You talk about leaving your properties in the UK rented so I take it you have more than one. Maybe you should consider selling at least one to give you the capital to start up over here by buying an old house, renovating it and then selling it on. There are many older Brits who have been here a long time and now want to return to the Uk to be close to family in their later years and many of the houses they are selling are in need of TLC and updating by now so can be picked up for a sensible price.""


where would i find further information about these kind of properties, ideally we were looking just outside protaras, but again slightly out of the tourist areas, a little bit of land would be ideal but open to options, not bothered about condition as my main trade is a spark, over time worked on types of buildings, can do most trades, (and im not a cowboy by far), last 8 years been forced due to expantion of company to work in the office, started the buisiness with a 30 k year turn over, now to date we have contract work and our company last year turned over excess of 3 mill, but dont hold up much for this year, thought of selling company to competition as some of the contract still have two years or so left.

just fancy a change, stress has aged me 20 years in two weeks


----------



## Veronica (Apr 5, 2008)

Steven Lindsey said:


> Again all thanks for your views, however, im still intrested, but i may need take to look at few avenues, im not one to leave things to chance, Veronica you mentioned
> 
> "As far as construction work is concerned I think that the way to go is in renovation and updating older houses. You talk about leaving your properties in the UK rented so I take it you have more than one. Maybe you should consider selling at least one to give you the capital to start up over here by buying an old house, renovating it and then selling it on. There are many older Brits who have been here a long time and now want to return to the Uk to be close to family in their later years and many of the houses they are selling are in need of TLC and updating by now so can be picked up for a sensible price.""
> 
> ...



I dont kow whether there would be many of those types of properties in the protaras area as it only relatively recently that that area has been found by Brits.
You would find more in the Paphos and Limassol areas.


----------



## BabsM (May 24, 2008)

Hi Steve, 
From what I know of the Protaras/Paralimni area I would say that there is some renovation potential but not much, mainly because there has been a lot of development in the area and Cyprus' idea of of renovation is to demolish and build new. However, Dherynia might be a possibility. It is in South Cyprus on the border of the UN zone and occupied Famagusta. The area has a general run-down feel because of its location and some of the property will be Turk owned and therefore untouchable. So you would have to be really careful about what you bought. But a lot of the buildings could do with renovation. If the Cyprus Problem was ever sorted, this area would be ripe for growth.

Personally I would say that you are better to look at the villages. Just as an example, there must be half a dozen derelict traditional houses in my village that could be renovated. People are just starting to wake up to the heritage that is being destroyed in the name of renovation. Also, there are large areas of old Larnaca that are in desperate need of renovation. Work is starting but it is going to take a very very long time. 

One other comment, the Cyprus government does give grants for renovation work. I don't know much about it but you could try investigating.

As regards renting, prices seen to be dropping in the Larnaca area. You could be looking at anything from €800 upwards for a 4 bed apartment. Thy looking in the Cyprus Mail for the best prices.

As a word of caution, the resale market in Cyprus is very very slow because people tend to buy new unless they can get a bargain. So reselling renovated property might be difficult. The kind of Cypriots who own properties that need renovating are not rich so you will be unlikely to make a fortune. And Cyprus like everywhere else is being hit by the financial crisis. If you were to come here and do renovations you would be best advised to consider it a work of love. But that said, when you see a well renovated traditional village property then it looks beautiful. 

Oh yes, as Woodsym1 says, Cyprus is dusty because it is a hot, dry country with years of too little rain and a serious water shortage. The driving is appalling and cars cost far more than the UK. Medical care is not equivalent to the UK. But I still love it. Expensive? Yes it is more expensive than it was several years ago. But our water bill is €15 per month (ish), Electricity €100 per month, car tax €60 per year, council tax €80 per year. Add that lot up and the whole lot is less than just the council tax on our 4 bed house in Sussex was! 

Cyprus is not for everyone... but if a more laid back life is what you want come and try it!


----------



## woodsym1 (Dec 24, 2008)

Veronica said:


> Couples with young children often struggle over here as you do not get the assistance that familes get in the Uk.
> It is never a good idea to jump in with both feet without really looking at every angle.
> However as you have only been over here for a few months it would appear that you didnt do your homework properly before coming over if you are already looking at going back.
> Well at least you can say you gave it a try and perhaps you can look at it as having been an adventure.
> ...


i come over 4 times last year at different times of the year and the year before i spent 2 months in pissouri i then decided to move here but couldnt belive the price hike in a year -i studied my areas hence choosing konia as its close enough to paphos town -yet has taverns -schools and shops .... i have a few family members from SA here and even they have businesses in the food trade are seeing the change -more people all inclusive and rising cost of living .. also the amount of europeans like Polish are rising here like UK - who come and work save instead of spending -recycling there money and take it home , that does effect the country . My friend who is Greek has a hair salon and even the local people where she lives in Limissol arfe struggling with the cost rise here . When i realised that yes it is a very beautifull island -very british -and has a few good points - it also has so much negatives -poor roads -expensive health care -expensive child care -expensive food- and crime is rising here -unfinshed expensive houses with no title deeds .I am definate in looking to go back and buy some repossesions in the uk and wait ..my dad lives in Durban SA and he warned me ...that we British are spoiled and take a lot for granted so my generation of 20+ would be unhappy on a small island .. he was right .. you never no i probably move again soon ..ha


----------



## BabsM (May 24, 2008)

I would like to debate some of your comments. *;-) How can you say that food is expensive. I paid €5 per kilo for a fresh turkey at Christmas, I am paying 50c per kilo for tomatoes, 35c for a lettuce, less than €2 per kilo for pork, milk €1.20 for a litre... that works out less than 60p per pint. Bread - 80c for a village loaf. Yes, imported stuff is expensive but the day to day stuff is less than the UK. Also the bills are a lot less. Our council tax alone in the UK was £1750 last year. I don't think all our bills put together will come to that. 

I do agree prices have gone up and the fall in the value of Sterling has hit us very badly but we just economise. We entertain in the house rather than go out. But we are having a good time and have a better social life than we had in the UK.

The last point is medical care. Every British Citizen who has paid NI in the UK is entitled to apply for an E106 if they chose to live elsewhere in the EU. With this form the UK NHS will pay the Cyprus health service for your medical care for up to two or three years depending on your NI history. If you are on Invalidity or a pension they will pay it for longer. Using these forms you can see a doctor at a Government hospital cheaply (€2 for me), your contribution depends on your income as does how much you pay for your medication (free for me). Granted the list of medication on offer is much shorter than that in the UK and some major medicines are not available but health care is not always that expensive unless you choose to go private. 

Crime is on the rise in Cyprus but it is nothing like that of the UK. You often see people going shopping leaving their cars unlocked, sometimes even with keys in them! When could you last do that in the UK? There are so few muggings and murders in Cyprus that they usually hit the national news when they happen... in the bigger cities and towns in England these things don't even hit the local news because so many things happen.

I feel sad that your time in Cyprus has made you so unhappy. Perhaps like many, you need to leave so that you can appreciate the good things here.


----------



## Steven Lindsey (Jan 17, 2009)

BabsM said:


> I would like to debate some of your comments. *;-) How can you say that food is expensive. I paid €5 per kilo for a fresh turkey at Christmas, I am paying 50c per kilo for tomatoes, 35c for a lettuce, less than €2 per kilo for pork, milk €1.20 for a litre... that works out less than 60p per pint. Bread - 80c for a village loaf. Yes, imported stuff is expensive but the day to day stuff is less than the UK. Also the bills are a lot less. Our council tax alone in the UK was £1750 last year. I don't think all our bills put together will come to that.
> 
> .


HI BABS 

So roughly speaking what if you dont mind me asking, are your weekly running costs, ie food, petrol, bills, etc, etc (and i know everone is differant), not nosey just want somewhere to aim.


----------



## woodsym1 (Dec 24, 2008)

Monty said:


> Veronica said:
> 
> 
> > Couples with young children often struggle over here as you do not get the assistance that familes get in the Uk.
> ...


----------



## woodsym1 (Dec 24, 2008)

BabsM said:


> Hi Steve,
> From what I know of the Protaras/Paralimni area I would say that there is some renovation potential but not much, mainly because there has been a lot of development in the area and Cyprus' idea of of renovation is to demolish and build new. However, Dherynia might be a possibility. It is in South Cyprus on the border of the UN zone and occupied Famagusta. The area has a general run-down feel because of its location and some of the property will be Turk owned and therefore untouchable. So you would have to be really careful about what you bought. But a lot of the buildings could do with renovation. If the Cyprus Problem was ever sorted, this area would be ripe for growth.
> 
> Personally I would say that you are better to look at the villages. Just as an example, there must be half a dozen derelict traditional houses in my village that could be renovated. People are just starting to wake up to the heritage that is being destroyed in the name of renovation. Also, there are large areas of old Larnaca that are in desperate need of renovation. Work is starting but it is going to take a very very long time.
> ...


I lived in SA for 15 years and that is hot and can be dry in some parts but they have water every day in your home ! taxes and rates for you're home are cheap but the damage to you're car -suspension and air filters are much a regular cost i am a negative person i do agree .


----------



## BabsM (May 24, 2008)

If you don't mind, I'll work that out and send you a PM with the info. You'll have to make one more post before I can send you a PM. *;-)


----------



## Steven Lindsey (Jan 17, 2009)

woodsym1 said:


> i lived in sa for 15 years and that is hot and can be dry in some parts but they have water every day in your home ! Taxes and rates for you're home are cheap but the damage to you're car -suspension and air filters are much a regular cost i am a negative person i do agree .




trying not to act thick :d but where about is "sa"


----------



## Monty (Jun 9, 2008)

Hi Steven
I think its South Afrika

Regards
David


----------



## Steven Lindsey (Jan 17, 2009)

Hi 

I have been doing a bit of property searching and I think have found a perfect location and property for myself and family to move to in Avgorou, has anyone heard of this place and is it a nice residential/ quiet area, I know that it is not far from Ayia Napa so it should not be too far from Protaras, please could anyone, if possible give me some information on this area, also does anyone know of any local national schools for my daughter to go to, or any recommended schools

Look forward to hearing from you

Steve


----------



## Pamie (Oct 28, 2008)

Steven Lindsey said:


> Hi.
> 
> I have been trawling the internet and I have came across this site, looking whether or not to move to Cyprus or stop in UK.
> 
> ...



Steve,

Haydn and I bought a town house in Mesa Chorio village in Paphos last year and it has been the best thing we have every done. the decision to buy was because I have a hotel on the Isle of Wight and had a buyer, sadley it fell through but had already put a deposit down - DILEMMA shall we walk away or bite the bullet and keep it. Well so pleased we made the right choice to keep it and hopefully will be moving out properly in April. Haydn, my fiancee is a carpenter/joiner and tried to get work out there at Christmas, but like the UK work is slow at the moment so we came back and he has a job on the mainland which I think he will stay with and do a month on and spend a couple in Cyprus and go back again, until the market changes and we sell the hotel, he has to work. It really depends on where you would like to relocate - we found Paphos to be right for us as you can live as quitely as you like or have the night life in the Kings Road, and we have made more friends out here than back on the IOW. Anyway, sounds like you have a good nest egg to start with most people rent at first to see if they like it here but we just jumped straight in and dont regret it. Good Luck.
Pamie


----------

