Cyprus property is selling like hot cakes with more and more houses being built on the Island there is still no sign of the supply exceeding demand for a long time to come. The downside to this is that prices are continuing to rise and will do so for some time to come. If you are considering purchasing a villa or apartment in Cyprus now may be the best time to get your plans moving. A lot of would be investors hesitated during the Spanish property boom and lived to regret their tardiness. We ourselves could have purchased a Cyprus villa in the top resort back in 1998 with three beds a pool and en-suit bathroom for only £65k! We held back and ended up paying nearly £180k for a similar property six years later. Owch!

The great news for Cyprus property buyers is that there is a huge choice of houses and villas all over this beautiful Island. Whether you are looking for an apartment or a luxury Cyprus villa you won’t have to look far. The only downside is that the huge choice could be slightly overwhelming if you are unsure where to start. There are literally hundreds of developers and property agents in Cyprus so you will need to do some homework before you dive in. Like everything else in life there are good and bad with property agents being no exception to the rule. On the whole however most Cyprus property companies have good long standing reputations when it comes to dealing with non residents.

Buying Cyprus property has never been easier with so many people speaking English as a second language. The solicitors and property agents all have English speaking staff so you shouldn’t expierence any communication difficulties when conducting your business with them. The legal system in Cyprus is very similar to that in the U.K. due to the British influence during their occupation of the Island up until the 1960s. There are one or two things however that you should be aware of. Firstly as a non resident of Cyprus you are only allowed to own one property on the Island although this situation could possibly change in the future. The other thing to be aware of is that if you purchase a brand new Cyprus property you are unlikely to receive your title deeds for anywhere up to five years after completion of the project.

The reason that it takes so long to gain possession of the title deeds is as follows. When a Cyprus property developer purchases the land to build on it will usually come with a single title deed for the whole plot. When the melons, tomatoes or whatever that used to grow there have been replaced with houses the developer will need to apply for separate title deeds for each individual property. This cannot of course happen until all the house are built and the roads ect are finished. When the developer applies to the land office they will do a full survey of the whole development to check that the only building work carried out is as was detailed on the original planning application. This is the reason why the owners of these new properties are advised not to carry out any additional structural work until the deeds have been completed. There is a risk that work on any one property which contravenes the planning rules could jeopardize the issuing of title deeds for all the properties on the development.

This is why when you purchase a brand new Cyprus property a contract must be drawn up between yourself and the property developer. This will show that although the developer holds the deeds for the land you have entitlement to your house whilst awaiting the deeds. This may even be the procedure should you purchase a resale Cyprus property up to five years old where the title deeds have not yet been transferred. In fact many sellers have been shocked to discover that the developers require a fee of around three thousand cypriot pounds to set up a replacement contract with the new buyer. The purchaser of such properties is not however required to contribute towards this cost.

So there you have some basic info about the Cyprus property market and we sincerely hope that you find it useful. Obviously there is a lot more to take into account such as the availability of finance in Cyprus and the cost of owning property ect. The Cyprus banks seem more eager than ever before to loan against property purchases for non residents and the cost of living in Cyprus is dramatically less than in the U.K or other parts of Europe. Happy house hunting and enjoy Cyprus!

Should you be seriously considering the purchase of property in Cyprus you could find it advantagous to deal directly with the Cyprus property developer rather than working with an agent or property broker. For most Cyprus property virgins the initial contact would most likely be through an advert on the internet or following a visit to an overseas property fair. If this is the case the odds are pretty high that the person or company they are dealing with is the agent rather than the Cyprus property developer themself. It is highly unusual for a developer to attend overseas property fairs with most of them choosing instead to operate through a network of Cyprus property agents or consultants as some are now labeling themselves.

There is nothing wrong or illegal in the way that the majority of these establishments operate but it is only fair that you be made aware they are not in fact the owners of any of the Cyprus property being offered. The Cyprus property developer will be paying a sizable commission to these guys for every property they sell and that will be ultimately financed by the buyer. It therefore makes sense to “cut out” the middle man if possible and save the cost of that commission. The truth is that Cyprus property developers do exactly what it says on the tin. Develop property in Cyprus. In other words they are real good at developing whilst happy to leave the marketing and selling to the agents.

If you could find and contact the developer yourself without going through the agents you would most certainly be assured of a better deal on your Cyprus apartment or villa. The trick of course is in finding the right Cyprus property developer in the right area who is building the kind of property you want. This of course involves doing some leg work but then again wouldn’t you be prepared to put in a little effort if it was going to save you several thousand pounds? We are not talking about pocket change here but serious mullah, dosh or whatever you choose to call it.

Why not combine a holiday with your property search then get a real feel of the different parts of Cyprus and all the different types of property available. The great news is that the money you take out of the Cyprus property agents pocket will more than cover your holiday expenses so you have nothing to lose. Hire a car, get out the map and off you jolly well go! Once you have decided on your budget and the area you want to buy in it’s time to pin down a Cyprus property developer who is building or about to build the kind of property you would want to buy.

Doing a search for”Cyprus property developer” on Google will yield a list as long as your arm but you will need to do a little weeding out. Some of the links will lead to yet more Cyprus property agents acting on behalf of the developers so you can discount them straight off. Work your way through the rest and identify which one’s are closest to the area in which you want to buy in and find out where their offices are located. Once you find a Cyprus property developer that matches your needs ask for the location of any developments they have recently completed and go take a look for yourself. If the properties look good and the standard of finish is impressive you should literally start knocking on some doors. Ask the recent buyers what kind of a service the Cyprus property developer gives especially in terms of snagging and after care.

Provided everything pans out you are good to go! Remember that the developer is saving big commission fees so there is plenty of room to manoeuvre when it comes down to the nitty gritty. These “poor” hard bitten Cyprus property developers are making millions from the booming market so don’t be afraid to barter with them. If you don’t get the deal you want there is always another developer down the road eager to relieve you of your hard earned cash. When a final price is settled upon STOP! Now is the time to give the impression you are cooling off on the deal. The developer won’t want you to walk away so ask if there is any way he can “sweeten” the deal for you? Your aim should be to have included in the sale price all the white goods for the kitchen and air conditioning units in all the rooms. If he goes for it then well done you have found a great Cyprus property developer.