Purchasing A Property in Cyprus
If you’re looking to purchase a property in Cyprus, be sure to read our brief yet insightful guide. It will walk you through all the basic phases and stages of the process.
Expats and potential home owners from across the world look toward Cyprus as an idyllic abode to invest in their dream home. The appealing taxation regimes and growing real estate market attracts entrepreneurs, investors, millennials and retirees to invest in Cyprus.
Hunting for Properties
Before you begin to purchase a property in Cyprus, you need to select the location. Prices tend to vary from various towns and cities across Cyprus. Limassol is one of the most expensive markets with a wide array of luxury properties, while the markets across Larnaca, Paphos, Nicosia and others are affordable and diverse. If you want to invest in a seaside or waterfront location, the costs will naturally be higher than older towns, villages and neighborhoods.
Cyprus is brimming with a wide array of quiet villages and rural communities, such as the Ayia Napa, which attract many expats and retirees. Paphos is immensely popular with families and children. The waterfront community of Larnaca is brimming with a wide range of affordable and luxury offerings, while Limassol, the most developed urban center of Cyprus, attracts young professionals and investors.
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Hiring a Realtor
Properties in Larnaca
Legal Bindings
Home Appraisal & Inspection
Contracts & Closing
Once the buyer and seller have reached an agreement, a contract is drawn up based on the terms put forward by both the parties. The buyer is required to make a deposit, and the seller is required to transfer the property in the name of the buyer.