Cyprus Real Estate Market
There have been instances where various agents or owners show a prospective buyer one plot whereas they are selling him another. Items in the description such as “near the road”, “near the village” etc, are used off handedly by people eager to sell, which, in many instances, are far from being true. Also beware of “terrific opportunities”.
If there is a building on the plot you are buying, ask for the building permit in order to make sure that the structure is not illegal, as well as to ascertain the terms and conditions of the building.Please note that most of the above problems do not exist in case you buy a building site (as opposed to a plot of land/field). Even if the title deed registers the property as a building site, however, it is recommended that you go through the motions of checking the various prerequisites for development.
As a general rule, electricity can be brought to any place in Cyprus provided one is prepared to pay for it. Be careful, however, with the general belief that if there is an electricity line close to the property the cost of providing electricity will not be much. This is not true at all and it is best to examine the approximate electricity provision cost with the EAC District Officer.Telephone lines are a problem for out of built-up areas. If one is needed at your “spot”, examine this possibility with the CYTA District Officer.
Cyprus enjoys a remarkably low crime rate 1/6 of the European average another reason for its popularity with foreign buyers for whom security has become a key element in the property world. Visitors are invariably surprised and reassured by this relaxed aspect of life on the island, where crime is virtually unheard of and theft not commonplace. Under the Aliens and Immigration Law, non-Cypriots wishing to take up employment in Cyprus are required to have a work permit.
The Town Planning Act. This law (expected to be fully enforced very soon) regulates development and it will supersede the liberal town planning zoning which exists at present. It requires the preparation of local plans for development and prior to any acquisition/development of property, the inspection of these plans is a must. Any development in the future will require a Planning Permission as well as a Building Permit.
Location: In any particular area there are many blocks of flats under construction (this is less true for the Paphos residential areas). Try to shop around and choose a block in a good area. Of course what is a 11...
North Real Estate SecretsAs a general rule, electricity can be brought to any place in Cyprus provided one is prepared to pay for it. Be careful, however, with the general belief that if there is an electricity line close to the property the...
Cyprus Property Market SecretsThe seashore protection zone is independent of the town planning zones. It is a zone which extends from the sea and it usually (but not always) has a width of approximately 300 feet. Within this zone no building can be...
Cyprus Apartments MarketCyprus enjoys a remarkably low crime rate 1/6 of the European average another reason for its popularity with foreign buyers for whom security has become a key element in the property world. Visitors are invariably surprised and reassured by this...
Property Real Estate SecretsCyprus is the lead nation that joined the European Union in 2004 which is another factor affecting the growth and prices in the property for sale market of Cyprus. It is expected that in the run-up to becoming a member...