How long is the procedure for purchasing a property in Cyprus?

How long is the procedure for purchasing a property in Cyprus?

Property purchase in Cyprus is very straightforward procedure. How long it will take to complete a property purchase within its province will depend on many factors. Keep in mind that you’ll need to find the right building first before you can begin the purchasing process. All these processes take time, and if you don’t make quick strides it can translate to weeks, ...
Building your own property?

Building your own property?

Is Cyprus a great place to build your own property? Yes, it is. if you want to build your first home or you are looking for a great place to spend your retirement or you want to build a vacation home for you and your loved ones, Cyprus offers a lot of options. But like every other sovereign state in the world, Cyprus is divided into zones and areas. Each one has a set of rules ...
Communal Fees in Cyprus

Communal Fees in Cyprus

Do you own an apartment in a building complex in Cyrus? If you do, then you would have to pay communal fees. You’ll be required to pay these charges the moment you take delivery of your apartment. In case you are wondering why you should pay these fees, the fees are required by the management committee of the jointly-owned building for the up-keep, operations, and repairs...
What type of properties can you find in Cyprus?

What type of properties can you find in Cyprus?

Cyprus is a great place to get mouthwatering offers on real estate, and it provides a socio-friendly atmosphere where people can work and have fun without missing out on the good things of life. If you are looking for a great place to spend your retirement and enjoy a prosperous life with your family, Cyprus offers a lot of options. It doesn’t matter whether you are a cit...
Should You proceed with a buyer with a loan with a higher offer or one with cash with a slightly lower offer

Should You proceed with a buyer with a loan with a higher offer or one with cash with a slightly lower offer

The current market for property sales in Cyprus is a challenging one. The difficulty multiplies exponentially when you need to find the right buyer with the financial capacity to buy your property at the asking price or close to it. Not all buyers have the financial capacity to pay the full price for a property. In some cases, you may find buyers who are ready to pay a high pri...
Five Reasons to Live in Cyprus

Five Reasons to Live in Cyprus

ATTRACTIONS FOR OVERSEAS BUYERS RANGE FROM FISCAL BREAKS TO A RICH HISTORICAL BACKDROP The Republic of Cyprus gained independence from the UK in 1960 and, following invasion by Turkey in 1974, was divided between the Turkish north and Greek Cypriot south. The latter is run by the internationally recognised government of Cyprus, and today more than a fifth of its residents come...
Reservation (Holding) Deposit in Cyprus

Reservation (Holding) Deposit in Cyprus

Looking to buy or rent an apartment in Cyprus? If yes, then you’ll most likely need to hold the property down with a deposit. Properties are in high demand in Cyprus and to show the owner/landlord that you are serious about the purchase or rental, you have to make a financial commitment before the sale/rent agreement is finalized. With regards to rentals in Cyprus, the am...
CYPRUS REAL ESTATE MARKET – YEAR TO DATE REPORT (JAN-APR 2020)

CYPRUS REAL ESTATE MARKET – YEAR TO DATE REPORT (JAN-APR 2020)

Covid-19 has wreaked havoc in global capital and real estate markets since the beginning of this year, and Cyprus has been no exception. Since March 9 when the first infection was reported, the total number of cases has steadily increased to over 900. The country, so far, has fared much better than many of its neighboring Middle Eastern countries, thanks to the mobility restric...
Costs when selling a property

Costs when selling a property

There are several costs you need to consider before selling your property. Here we will discuss shortly with an easy to follow example what are the main costs.  Your costs usually are: Estate Agent Fee Solicitor Fee Capital Gain Tax (CGT, if applicable) Any outstanding fees (e.g. government, communal fees, electricity, rubbish, etc) Quick example of CGT. ...
When should you launch your property onto the market?

When should you launch your property onto the market?

THE PROPERTY SHOULD BE LAUNCHED ONTO THE MARKET AND THE DETAILS UPLOADED TO ALL THE MAJOR PROPERTY PORTALS. AT ANY ONE TIME, THERE WILL BE A POOL OF BUYERS LOOKING TO BUY A PROPERTY JUST LIKE YOURS. The important thing here is to make sure that the estate agents are using the same marketing price and all the necessary details that describe your property. The demand is there. ...
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