The property market in Cyprus is still a flourishing one, but buying a property as a
foreigner can be fraught with dangers. It needn't be as long as you know what to avoid,
and so this page was born.
Title deeds, which have been a scandalous problem in the
past, must be investigated, but as long as
you are aware that you need them, and make sure that they are available before parting
with your cash you will be O.K. There are certain circumstances where it is
ok to wait a year or two for them, as long as there is a decent contract in
place.
Property in the countryside, or older properties should also be investigated thoroughly
to make sure that all the owners
( there can be as many as 20, especially on rural or older property) agree to sell. If you buy
only part of a property but are the major shareholder, you can force an auction of the
whole, but be prepared to pay the full value ,or sell your share.
Trees can be something else to check about. Trees can be owned by a number of people
who do not own the land, so, if you are purchasing a piece of land which has olive or carob
or citrus trees on it, make sure that they come with the property or can be bought
separately at the same time as you buy the property.
If you need a mortgage for a holiday or retirement home, see the banking
page here for details from the Bank of Cyprus, they can give you a lot of help along
the way with the application to the Council of Ministers etc.
Speaking of which, you need permission from the Council of Ministers to
buy a property in Cyprus, this is normally only a formality but can take a bit of time.
Now on to the goodies, we have these main sections for Property. Click
on the ones that interest you.
If you click on a section that interests you, we hope that you will find what you want.
If you don't please fill in our online property
wanted form, and we will try to find what you are looking for.
Please contact us here if you
wish to advertise with us.
22/08/07 19:40:50
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