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Buying Property In Cyprus |
By:
William Marind |
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Buying Property In Cyprus
William Marind
Permission 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 matter of course to all bona fide buyers. In the meantime purchasers may take possession of their property without restriction.
In case you require air condition ing/central heating, we suggest that the advice of a qualified electrical and mechanical engineer be sought. Fees for this consultant are around 4% for the design and 2% for supervision (on the cost of the works).Insist on all drawings being ready before inviting tenders.It is recommended that a building permit be secured first before works commence, although works such as excavations etc may begin prior to the issue of the building permit. In this case, your architect must consult with the Appropriate Authority to see whether there are any major objections to the drawings.
There is no difficulty in finding apartments to buy in any of the towns in Cyprus. Land development into apartments is very common and there is an abundance available for sale at any time all over Cyprus, the vast majority being very new. There is also a tendency to sell apartments "on paper". (ie when construction plans are still on the drawing board), or during construction, as a means of raising part of the finance for the project.Apartment prices are not uniform. They vary to a great extent with the location, the quality of the project and the town where they are situated.
In case you require air condition ing/central heating, we suggest that the advice of a qualified electrical and mechanical engineer be sought. Fees for this consultant are around 4% for the design and 2% for supervision (on the cost of the works).Insist on all drawings being ready before inviting tenders.It is recommended that a building permit be secured first before works commence, although works such as excavations etc may begin prior to the issue of the building permit. In this case, your architect must consult with the Appropriate Authority to see whether there are any major objections to the drawings.
If you are contemplating the development of a complex/costly building, you are strongly advised to appoint a project manager who will manage the design team and the whole development. Also the appointment of a quantity surveyor on such large scale projects is strongly advisable.Central heating is not generally required in the seaside towns (although this is a matter of own judgment) but air conditioning (at least in the bedrooms and for the seaside areas) is recommended. The cheapest form of cooling is the normal wail mounted units. Split unit type with heat pumps is increasing in popularity and it is an alternative to be considered.
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Article Source: http://www.statssheet.com/articles/article67239.html |
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