Buy Holidays Villas
A survey on any resale property is strongly recommended, just as it would be in the UK or elsewhere. Our Cypriot team or your lawyer will be able to recommend a surveyor to you. He will inspect the property and prepare a report, eventually showing any defects, which would not be visible to everyone’s eyes. It will save you unpleasant surprises at a later stage, and depending on the type of defects stated (if any), you may get a reduction on the price or you maybe in a position to request the vendor to repair them, or insist additional guarantees be inserted in the contracts. One thing is for sure; you will know what you are buying. A surveyor will not allow his love for a property to cloud his judgement as you may have done.
Charges for utilities are payable to the respective authorities at regular intervals throughout the year. They are based strictly on the consumption of each unit. While the cost will vary, approximately CY180 per year can be considered a rough guide.
As an indication, one should have in mind that the average construction cost for a house is between C160 to C200 per square metre and the purchase cost of building sites offered for this purpose could range from C1 to C2 per square foot in resort areas, whereas in the towns this can reach C5 per sq. f t.Credit terms on villa/building site/land/cottage acquisitions are normally made and the generally acceptable payment terms are 50% on signing and the rest over a period of 1-2 years (at 9% interest on the reducing balance).
The next step is to appoint an architect to carry out the design. There is an abundance of well qualified architects on the island and many capable technicians as well. We suggest that you appoint an architect for the purpose (not an engineer or technician). Architect fees range from 4%-6% (on the building cost) but you can agree also on a fixed fee. The prevailing fees are 3.8% on the building cost for a complete set of architectural plans and 1.6% for supervision (including the issuing of certificates).
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 good” area is relative and depends on various factors including personal judgement and taste. it is widely accepted, however, that a 11 good” area is one which is relatively central, not densely developed with flats, more of a residential area, relatively quiet (not on main roads) and which is close to schools and shops.
Transfer of ownership from vendor to purchaser is accomplished by a simple procedure through the land registry office. The contract of sale must be in writing, and it is advisable that such contracts be registered at the District Land Registry...
Buy Villas In PaphosCompared with other international financial centres, Cyprus offers a distinct benefit in the form of double taxation treaties. Agreements with an increasing number of countries eliminate the double taxation of income earned in any one of these countries. In practice,...
Buy Villas In Cyprus…A Dream Come TrueIf you are looking at property investment, a holiday home or just somewhere new to live, well Cyprus probably tops the list both for today and for the future. Ever since Cyprus became a complete member of the EU it\'s...
North Cyprus Villas…Buy To Let Investment OpportunitiesIf you are not accustomed to property market terms then allow me to explain what \"Buy to Let\" actually means. Well it\'s quite straight forward really as it\'s just a question of buying and completing on a property followed by...
Buying Luxury VillasSelf-employed persons must possess academic or professional qualifications, which are in demand in Cyprus and do not crate competition to the local population. People of Cypriot origin or the foreign wives of Cypriot citizens are not regarded as foreigners. Residence...