The republic of Cyprus is and independent Island and EU member state located in the eastern Mediterranean, 95 km south of Turkey and 350 km north of Egypt.
It has been independent from the UK since 1960 is one of only 2 other EU member states (excluding the UK) that are members of the Commonwealth.
Greek is the national language although many speak fluent English due to their past history. The Capital of the Republic of Cyprus is Nicosia and Cyprus has a population of 1.14 Million.
The Republic of Cyprus is a major tourist destination in the Mediterranean with an “advanced high-income economy” and a very high score on the Human Development Index. Cyprus has a beautiful mountains interior and many sandy beaches on the coast. It is served by 2 international airports at Larnaca and Paphos and has a major regional port at Limassol.
The World Economic Forum's 2013 Travel and Tourism Competitiveness Index, ranked Cyprus' tourism industry as 29th in the world in terms (For overall competitiveness). In terms of Tourism Infrastructure, in relation to the tourism industry Cyprus ranks first in the world!
Cyprus has currently has over 2 million tourist arrival per year, approximately 1 million of which come from the UK. The weather in Cyprus is a great draw for tourists and has over 320 sunny days per year with warm winters and typical hot Mediterranean summers, in reality pretty much guaranteed to be dry.
The UK has a great affiliation with Cyprus which is echoed in its tourism numbers and due in part to the presence of 2 large British Military sovereign territories which are leased from the Cyprus and governed by the UK.
There is an increasing number of Russians visiting Cyprus and this has been mirrored in the numbers of overseas property purchasers which had been dominated by British. Although not yet in designated Schengen part of the EU, Cyprus, in addition to its Citizenship by Investment program also has a residency by real estate investment program which is proving again popular amongst Russians.
Property as with the rest of the Mediterranean has seen falls in values from the highs of 2008 however with recent improvements in the economy and the end of bank restrictions, signs of a slowdown in prices decreases and the increase in numbers of transitions are being noted.
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