It is recommended that a potential buyer seek professional advice before agreeing to or concluding a deal to avoid any possible problems or disappointments. This is really useful as foreign buyers are not familiar with the legal system in Cyprus.
Land Buyers
Make sure that you are buying the piece of land you are being shown. Ask for the title deeds and the plot references and its position on the Land Registry plans.
Check the planning zone the property is in as well as the nearby zone since your plot may be within an agricultural area. However a few metres away, it may be i.e. industrial or farming zone which can be a nuisance to your property. The additional things you should bear in mind are the following incentives:
Building density - how many square metres (sqm2) you are allowed to build.
The use - what type of use it is permitted for.
Site coverage - the maximum size the site can hold to occupy a building.
Height and number of floors allowed.
The seashore protection zone is 300 feet from the sea. Within that zone, no building or shed is allowed to be built. A swimming pool can be built in the zone only if regulations are relaxed.
If there are any ancient monuments (A.M.) find out whether the Inspector of Antiquities has any objections to a building project. The A.M. is marked as an 'A.M.' on the Land & Survey plans. If there are no marks, it is still better to check with the Antiquities Department.
Electricity can be brought to any part of Cyprus provided you are prepared to pay for it at any cost. There is only one company to check with and that is the Electricity Authority of Cyprus.
Telephone lines may be more difficult to provide for in remote areas but mobile telephone services covers over 90% of Cyprus and is quite cheap.
One important aspect to cover is accessibility to your property. Make sure it has access to a public road before you sign. If the public road is more than 600 feet away and a width of less than 12 feet, the permit to build a house will be refused.
If there is a building on the plot you are buying, ask to see the building permit to make sure tha the structure has not been illegally erected and to examine the terms and conditions of the permit.
A single house can be built on a plot of land. However should a second house be built, then water must be provided. The water is supplied from either a public source or a private one i.e. a borehole, the water of which must be tested for quality and quantity by the Water Development Department (WDD). You should speak to WDD about water supply availability within your zone so that your property will not go without water supply if outside water zone.
Village House Buyers
It is becoming more popular to buy old village houses by both locals and foreigners, which are then converted or renovated into modern houses. These houses have character and style. In some cases, the original stones of the old stone village houses are kept and used during reconstruction. There are preservation or sustainable environment projects occuring throughout Cyprus to conserve old village houses.
The best way to begin is to visit a village of a buyer's choice and seek information from the local estate agent. It is a fact that the less popular the village is to foreigners, the cheaper the cottages' prices are. Sometimes an old house has historical value or is listed, it is liable for a Government grant. An estate agent consultant can advise you on this.
Apartment Buyers
Location - this is very important ultimately. Try and choose a block in a good area. A good area is typically a block found in central areas of towns but not too quiet and near schools and shops. If you have children, try and look for blocks near parks.
Blocks - Try and choose small blocks of flats. It is recommended and ideal to buy an apartment in a block of 4 storeys with a maximum of 15-20 units. Any larger than that, may result in problems with blocks management and lack in privacy. However, smaller blocks have a higher higher common service bill. Blocks with shops on ground floor are usually associated with noise, dirty and parking problems so try and avoid those. Do ask and find out what the shops below will be turned into. If they will be kebab shops or bars, they will cause you grief so try not to buy flats above the shops. The higher up the flat is from the shops, the better it is.
Services - Due to experience, it is often difficult for co-owners to concur on common servicings of the blocks. It is recommended that a buyer, especially if planning to buy a large block, to buy where the block has the lowest common service bill. One major problem between co-owners is central heating and this causes many disagreements. Do try and avoid flats which have common hot water facilities.
Quality - Beware of the word 'luxury'. It is not what you envision yourself. If the flat you are buying is still being built, ask your estate agent to go through the specifications of the materials and finishes so that he can explain their meanings to you. The quality itself is another matter. If you visit the developer's previous projects and find out about their reputations, you will have an idea of what to expect. It is recommended to go for construction using plastic and aluminium, sprits finish and a good quality lift to avoid future mechanical problems.
Reliability - Be aware of whom you are giving your money to. Checking out the past performances of a developer is the best way of guarantee. However if you are worried about the block not being completed, ask for a bank guarantee. You will have to pay annual costs of the guarantee which is 1.8%. It is paramount that you deposit the sales contract with the Land Registry, two months after purchasing a block. This way, you will have the right to claim and/or seek specific performance if something goes wrong.
Developing Your Own Home
If you would like to develop your own home, the best recommended actions to take are to find a suitable plot, an architect and an esate agent. An estate agent can sell you some plots of lands and some will have or know some archictects to design a house for you. Below are some incentives:
1) Seek a suitable plot. Visit the area that you are interested in and ask the local estate agent for land for sale. Seek the assistance of a registered estate agent who may be in a position to offer you alternatives. It is recommended that a valuation of the property, prior to completion, should be obtained from a professional valuer. Bear in mind that it is the seller who pays the agents commission and not the purchaser.
2) The next step is to appoint an architect to carry out the designs. There are many well - qualified architects on the island and many capable technicians as well. a building design can only be carried out by a registered architect. Architect fees range from 4-6% for building costs however you can agree on a fixed price. The prevailing fees are 3.8% on the building cost for a complete set of architectural plans and 1.6% for supervision. In addition a 1.5-2.0% 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 consultat, seek the advice of the Registrar of the Association of Architects & Engineeers.
3) In case you require air conditioning/central heating, we suggest that the advice of a qualified electrical and mechanical engineer be sought.
4) It is recommended that planning permit is secured first before works commence, althought works such as excavations etc may begin prior to the issue. In this case, your architect must consult with the appropriate authority to see whether there are any major objections to the drawings.
5) If you are thinking about the development of a complex/costly building, it is strongly advised that a project manager is to be appointed who will manage the design team and the whole development. In addition, the appointment of a quantity surveyor on such scale projects is also advisable.
6) Central heating is not generally required until winter comes but air conditioning is recommended. The cheapest form of cooling is the split type with heat pumps. The cost of a reasonably good unit starts from Cy£300/unit for a 9 BTU and the price increases for larger capacity units. The cost of central oil fired heating is approximately Cy£25-£30/m.
7) Solar heating is an economic alternative and found on many buildings throughout Cyprus. It is relatively inexpensive and a good unit costs around Cy£500.
8) Upon completion of the work, your architect must submit drawings (as built) to the appropriate Authority for the issue of a certificate of final approval. When this is issued, it will have to be deposited at the District Land Office so that the registration of the building on teh title deed of the land is affected.
