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Try to check whether there’s any road or other scheme which affects your property or the locality in general. It is advisable that you purchase a current Lands’ and Surveys’ plan (a whole sheet) for the property you intend to purchase, since on these plans many proposed public projects such as roads etc are shown. It is best, if you suspect any schemes in the area you wish to invest, to see the District Inspector (at the District Officer’s Office) and/or pay a visit to the local Planning Office.
Such treaties combined with very favourable tax rates for international business entities in Cyprus open the doors to significant tax planning opportunities. The fact that Cyprus isn’t considered a tax haven but rather a country offering tempting tax incentives expels the distrust that international tax havens often arouse.
Non-Cypriot citizens requires permission from the Council of Ministers to purchase property in Cyprus. If this has not been yet obtained then the purchaser should now apply to the council for the permission. This normally takes between 8 and 14 months to be allowed, and without this the Title Deeds of the property cannot be made available to the purchaser.
A survey on any resale property is strongly suggested, 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’ll 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 fix them, or insist additional guarantees be inserted in the contracts. One thing is for sure; you’ll know what you’re buying. A surveyor won’t grant his love for a property to cloud his judgement as you might have done.
Location: In any particular area there are lots of 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.
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...
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...
Paphos Real Estate AgencyThe contract in then longed with the Land Registry within two months if being signed which will prevent the vendor from selling the property on a second time, and will be a charge on the property pending completion.Application is made...
Real Estate Property Taxes and Assessment LoopholesMany times when blanket assessments are done on homes, the resulting values are inaccurate and a result of a \'\'quick fix\'\' mentality. Often adjustments are made using a factor or multiplier to adjust values. Not that a blanket reappraisals accuracy...
Low Price Real EstateFor all the towns and for some villages there are water development zones and it is most difficult to get public water supply to a property sited outside the zone. Do not take, therefore, the word of the estate agent,...