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Guide to buying property in Cyprus | Easy Property Guide to buying property in Cyprus – Easy Property

Guide to buying property in Cyprus

Guide to buying property in Cyprus


Why should I Buy in the Republic of Cyprus?

Reasons to buy a property in Cyprus are plentiful: better weather, fresh food, amazing views of the sea and mountains, less traffic, easy pace of life, and a wide variety of things to do and see. Add to this the fact that English is a widely spoken language so no matter where you are from you will be able to communicate with the locals.

 

Famagusta has lovely beaches, Larnaca has an eclectic seafront board walk, Limassol has everything a great city could possibly offer and Paphos still attracts purchasers in droves. For those that want the quiet, laid back, traditional feel of Cyprus, Polis and Latchi provide a close knit hub for relaxation. There truly is something for everyone in Cyprus and the best thing is that it only takes two hours to drive from one side of the island to the other! Whether you’re looking for a traditional meal in one of the numerous villages, a fun day out in one of the many water parks, or a relaxing walk along the coast, hillside tracks or nature trails; it’s all available in Cyprus.

 

Getting started – is it possible for you to buy in Cyprus?

Buying a property in the Republic of Cyprus for a European citizen is very straight forward but you must make sure you do your homework. Get independent advice and get it right first time. Since Cyprus became a part of Europe in 2004 European citizens can now own as many properties as they like without restrictions. However, for citizens who come from outside of Europe, it’s really best to take specialist advice from an emigration expert, or seek help from your Embassy as the criteria – although constantly changing – is still quite strict.

How much does it cost to buy a property in Cyprus?

In the Republic of Cyprus, you should allow a minimum of 15% over and above the purchase price to cover your Legal and Land Registry Fees and any other anomalies. There are no Estate Agency fees for purchasing any property.  Once you have purchased your property in the Republic of Cyprus the properties are often re-valued by the Land Registry Department. This can result in an additional increase in the tax to be paid, so do beware of that. Revaluations can be challenged, but often the legal fees to do this end up costing more than the increase.

 

While researching properties through the Internet, attending property exhibitions or emailing estate agents, remember to investigate what is actually included in the property price versus what gets added on.

Finding a property Cyprus – where should you start?

Always prepare a wish list before searching for property in Cyprus, once you have compiled your wish list start your search on the internet which is very straight forward. There are many estate agents and property portholes and are they are usually the best place to start your search for Cypriot property.  With plenty of villas, houses and apartments for sale, you can find your dream property in Cyprus.

 

Once you have an idea on the area and type of property you would like the next step is to contact an estate agent/developer in Cyprus they will ask you what you are looking for and give you impartial advice depending on your own personal circumstances. Many estate agents/ developers employ staff who is Cypriot or ex patriots that have lived in Cyprus for many years and have already made the move they will be able to give you invaluable advice on what to expect when moving to Cyprus.

 

Legalities – should you use a lawyer in Cyprus?

Before you even think about getting on a plane to Southern Cyprus to purchase your dream property, make finding an independent solicitor the very first thing you do -or you could live to regret it. Why? Not all solicitors who deal with foreign property transactions act solely in your interests.

So what should you look for? First and foremost, your solicitor should be someone you feel you can trust – and very importantly, someone you can communicate easily with. Compare several. There must be no grey areas in communication, if there are, walk away. Good solicitors cost more, but they are worth every penny for peace of mind.

The two words “independent solicitor” is very important. Your solicitor must be totally independent from the estate agent, developer, or company showing you properties. You must be sure he or she is acting for you and you alone, with no interest towards the property professional. Sadly, some solicitors can draw up contracts in favour of the estate agent or developer. So you can see why there would be a conflict of interest at the outset.

You also need to bear in mind that the legal system in Southern Cyprus may not work in your favour if trouble strikes. Do not put yourself in the position of needing legal redress. You may have the law on your side, but the legal system in Southern Cyprus can tie you up for years and cost a fortune. Finally, what’s the best advice? It’s simple. Make sure you – and your solicitor – get it right from the start.

Settling into Cyprus – how can I spend my time?

If you are coming to Cyprus to work or retire – congratulations! It’s a wonderful place to be and so friendly. Everyone is very welcoming. There is no rushing around, life is at a much slower pace and it’s not unusual for lunch to take a few hours, sometimes longer!

All over the island there are numerous clubs and activities you can join. Just to give you a few examples: you can join a walking club (just think of the gorgeous scenery you will experience walking through the mountains – it’s incredible – and when the flowers are out, it’s simply stunning). Or how about joining a motorbike club and having adventures on the open roads.

Then there’s indoor and outdoor bowls; an extremely popular sport. There are also several clubs and lessons readily available if you care to learn flower arranging or even how to create your own mosaics.

If you like to get on the dance floor, there’s ballroom and Latin, rock and roll, line dancing and country to name but a few – and of course, karate, judo, tap dancing, zumba… the list goes on. Football is ever present – it’s the country’s favourite sport, and rugby is available too in certain areas. You can also learn to sing by joining one of several choirs, or learn how to build a traditional stone wall!

For those long summer nights there are clubs for card games, bridge, etc and you can even join a computer society and learn how to use one from scratch! What about joining one of the golf clubs? Or learn to speak Greek if you want to…and other languages too! Tennis is very popular in Cyprus, and what better way to wind down after a game than relaxing in one of the many spas available, or just going for a dip in your own pool if you have one? Don’t forget gardening either – plants grow ten times – yes ten times – faster than they do in the UK so you’ll be kept busy there!

If clubs aren’t really your thing, how about putting your time to good use by volunteering? This could be anything from helping out in a charity shop to assisting with building a new playground for children at the General Hospital, to taking the less able shopping, or being a hospital visitor. The list is endless; just the tip of the iceberg!

Cyprus has everything to offer, and more. Plus the weather is fabulous!

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