Are you considering buying land to develop in Larnaca? Thinking of purchasing a plot to build your dream home? If so then you may want to know about what you will need in order to purchase the land and the specifications as well as average costs of land.
Why You should Consider Buying Land to Develop in Larnaca?
If you buy land in Larnaca then you are free to design your own custom-made home. Being able to do so really makes it feel like your own. If you are craving a new big scale project it’s also a great way to achieve this.
There are many advantages to purchasing a plot and sometimes it makes it much easier to control the costs as you can build a house to your own specifications.
Land prices in Larnaca, and all-around Cyprus, to vary and the market is bound to change. However, the average price for a 253 square metre plot, 1.3km away from the sea was about €450,000 last year (2019).
You may be considering buying land for a different purpose. You may want to build office space or something else for business or recreational purposes. The options are wide open but remember to check all the legal paperwork as some land cannot be used for particular types of buildings.
What Documents will I Need?
Buying land to develop in Larnaca means you will need to collect specific types of paperwork. These are as followed:
- A copy of the Title Deed for the land as evidence that the seller is the lawful and rightful owner of the land. This will also give details of the owner/s, plot size and confirmation that the land is deposited in Cyprus’ Land Registry system.
- A copy of the Land’s Office Site Plan
- Title Deeds must match on all documents
- The Site Plan must confirm all the boundaries, shape of the plot and roads that surround the land.
- Information regarding what facilities such as water and electricity are available
- Whether the plot is residential land or solely for commercial use. (This depends on the reasoning behind the purchase of the land).
- Find out whether you have ‘right of way’ access to the land as this is not automatic and ay need to be negotiated with other land owners in the area.
- If you are purchasing land in Larnaca in order to build a house, you will need to request a Land Survey to confirm that it is suitable for building the house.
- Be aware of the town planning zones such as the maximum height a building can be and the number of floors permitted.
- Also, make sure you are informed of the specific number of square meters the building can be within the total square meters area of the land.
Conclusion
Buying land to develop in Larnaca can be really exciting as it means you are developing a plan you have. Whether that be personal or business related. When going through the process make sure you have a trusted team of professionals helping you out including professional and licensed real estate agents and lawyers.