Cyprus losing Brits and gaining Russians and Chinese migrants

Once famous as UK expat heaven, Cyprus’s inability to deal successfully with the ongoing effects of the 2008 financial meltdown is resulting in an increasing number of UK expats packing up and getting out.

The island’s international removals companies are seeing a huge demand from Brits moving elsewhere in Mediterranean Europe or even back to the UK. However, immigration from Russia and China, encouraged by offers of EU passports and residency, is filling the expat population gap and changing the ambience of the island.

One removals firm is dealing with 20 to 30 enquiries every day, the busiest they’ve even been. According to partner Jude Dudson, it’s not just the changing demographics of the island that’s causing the British exodus, it’s also the fact that prices have risen and UK pensions haven’t.

Other Brits affected include couples, often with young families, who have lost their jobs due to the continuing recession on the island. Unemployment is still at an all-time high, and the economy’s recovery is, as yet, very slow, in spite of the savings cash grab by the government 18 months ago.

Real estate is in the doldrums, with new arrivals renting rather than buying due to a loss of confidence in the Cypriot administration. The influx and influence of the two contrasting cultures of China and Russia is changing Cypriot society, making the lifestyle far less attractive for UK retirees.