South Cyprus Property Secrets
It is usual for developers to give credit terms of payment when selling these flats. Terms vary from developer to developer but commonly these are as follows: on signing the sale agreement – 1/3 of the total value; during construction – 1/3 of the total value; the balance over a period of 2 to 3 years. In most cases interest is charged at the rate of 9 per cent per annum as from the date the purchaser takes delivery of the apartment. (i.e. completion)
Developers usually offer two-storey villas with three to four bedrooms, with two bathrooms, living/dining room and kitchen with breakfast area. Often the option of a swimming pool is also given.Prices vary according to the location and area of land involved.
The 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 allowed, even a small hut, ice cream shed or a swimming pool. When there are ancient monuments close to your plot, be careful to examine whether the Director of Antiquities has any objections to a building project. If a plot of land is classified as an ancient monument area, the Director’s approval must first be sought.
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.
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.
The 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...
Property On Cyprus MarketThe 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 Property RegulationsBy law, a non-Cypriot in Cyprus is entitled to a residence permit but is not required to hold a permanent residence permit the latter being easy to obtain once certain requirements are fulfilled. You need to submit an application and...
Buysell In Cyprus SecretsThe Block: Try to choose a small block of flats. A five storey building accommodating a maximum of 10 to 15 units is ideal. Large blocks have problems primarily related to their management and lack of privacy. Bear in mind,...
Brilliant Apartments Cyprus SecretsPermission 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...