Buying Luxury Apartments
If there’s a building on the plot you’re 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 don’t exist in case you purchase 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.
Location: In any particular area there are several blocks of flats under construction (this is less true for the Paphos residential areas). Try to shop around and select a block in a good area. Of course what’s 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.
There’s an increasing tendency by the local and the foreign market (in particular the British market) to acquire old village houses which are subsequently improved/converted into modern residences.Before the “craze” of village cottages started, there were some real bargains for this nature of property. Nowadays cottages of character and colour are relatively pricey and they may amount, together with the repair improvement bills, in excess of what a new villa of the same size would cost.
Development of land into villas in estates is now very common in the Paphos area, mainly on the hills between Paphos and Polis. Projects are developed to take the form of villages with the individual villas designed in traditional architecture. There are, of course, cases where the purchaser might have a good state in the design of his villa. The same type of projects are now being carried out in Limassol and to a lesser extent in the Larnaca area.
Property owners in Cyprus are advised to make a will in Cyprus to cover their Cypriot estate. A Cypriot will speed up the process of obtaining probate in Cyprus.Inheritance Tax is payable on a Cypriot estate and rates are on a sliding scale depending upon the value of the estate. Full professional advice should be obtained with regard to making a Cypriot Will and Inheritance Tax planning.
Self-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...
Find Andreotis ApartmentsUpon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval.When this is issued, it will have to be deposited...
Buying Cyprus PropertyIn addition a 1.5%-2% is payable for the structural design and 0.3% for structural supervision. If you are at a loss as to the choice of a suitable consultant, seek the advice of the Registrar of the Association of Architects...
Sell Cyprus ApartmentsPermission to purchase a property must be obtained from the Council of Ministers by written application. This must be submitted by the non-Cypriot purchaser after the agreement has been signed. However, the permission is granted more or less as a...
Renting Apartments In CyprusUsually, the ancient monument area is marked as AM on the Lands\' and Surveys\' plans but the non inclusion of the letters AM. does not guarantee that the plot is free from this kind of restrictions. If, therefore, you see...