We never forget that buying your freehold property in Cyprus is a big decision. A great deal of thought is needed for what is likely to be a major lifetime purchase.
We have detailed some information below to give you an idea of the complete buying process. However it is important to note that we will be with you to guide you through to completion and beyond.
Our tailor made three or four day inspection visits are an ideal way to view this beautiful island and the outstanding selection of freehold property we have on offer.
We will help you book your flights and accommodation, and arrange for one of our team to meet you at the airport on your arrival in Cyprus.
Alternatively if you are planning on going to Cyprus on holiday and would like to spend a day or two viewing property with us please let us know your travel arrangements in advance and we can arrange for one of our team to show you the local area, lifestyle and properties available to you. This service is offered to you totally free of charge and you are under no obligation whatsoever to buy.
Having found the property of your choice, you will then be required to pay the developer a deposit of £2,000 in order to reserve the property. You will then sign a private purchase contract between yourself and the builder.
On choosing your Cypriot property we will introduce you to an independent English speaking Cypriot solicitor who will ensure that the contract is legal and fair. He/she will act on your behalf throughout the transaction and will attend the notary with you on completion.
Non-Cypriot citizens require permission from the Council of Ministers to purchase property in Cyprus. This process is merely a formality which is nearly always granted however it can take up to 14 months to be issued. We will assist you with the completion of the necessary forms free of charge upon signing the purchase contract.
Financing your property
Many of our clients finance the initial payments on their property in Cyprus by releasing equity from their UK property. Once the property is built you can apply for up to a 75% loan to value Cypriot mortgage, subject to status. Interest rates in Cyprus are very similar to those in the UK and your mortgage is only secured on your Cypriot property.
When buying a property in Cyprus you should allow for an additional 8-10% of the purchase price to cover additional costs that are incurred during the buying process. This includes VAT and stamp duty along with all land registry, notary and transfer fees and your solicitor fees.
After sales service
We will assist you with every aspect of your property purchase through to completion and beyond. Please remember that our award winning after sales service, unlike some of our competitors, is completely free of charge. Our fees are paid directly by the builder/vendor and not by you.
Many of our developers offer structural guarantees of up to five years on their properties. Furthermore, we only deal with established, reputable builders and use our years of experience and local knowledge to bring you only the best developments.