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Find out how best to approach the process of buying and selling property in Cyprus, so you can minimise problems and achieve your investment goals.
If you are thinking about entering the Cyprus real estate market as either a buyer or seller, there are a few things you need to know before you get started, so you can help to prevent or minimise any issues occurring later on.
For this reason, we have decided to put together a handy step-by-step guide to real estate in Cyprus, so we can help you to navigate your way through the process.

Buying Real Estate in Cyprus

Research the market

When looking at real estate investment opportunities in Cyprus, the first step is to research the market, including understanding: the types of properties available, the prices of properties in different areas, and the current market conditions. You can use property websites and Cyprus real estate agents to gather this information.

Get a mortgage

If you are not a cash buyer, you will need to get a mortgage. There are a number of different lenders available in Cyprus, so it is important to compare rates and terms before you decide on a lender. Online resources such as mortgage calculators and comparison websites can help you with this.

Find a property

Once you have done your research and secured a mortgage, you can start looking at Cyprus property for sale. Using key search terms like ‘real estate Cyprus’ and ‘apartments for sale Cyprus’ online will help you find properties that meet your specific needs and budget.

Make an offer

After you have found a property that you like, you can make an offer to the seller. The seller may accept your offer, reject it, or make a counteroffer. Whether it concerns Cyprus commercial properties, or a residential investment, you will need to negotiate with the seller until you reach an agreement on the price and terms of the sale.

Hire a lawyer

Once an agreement is reached, you will need to hire the use of Cyprus property legal services to help you with the legal process of buying the property. A lawyer will check the title deeds to make sure that the property is free of any obstacles, and they will also help to draw up the contract of sale.

Pay the deposit

You will need to pay a deposit to the seller, once the contract of sale has been signed, which is usually around 10% of the purchase price.

Complete the sale

When the deposit is paid, the sale is officially completed. This involves the transfer of ownership of the property from the seller to the buyer. As the buyer, you will also need to pay the balance of the purchase price, as well as any applicable stamp duty and other taxes.

Selling Real Estate in Cyprus

Prepare your property for sale

Before you can sell your property, you will need to get it ready for sale. This includes cleaning the property and making any necessary repairs. You may also want to hire a professional photographer to take photos of your property.

List your property

The best way to sell your property is to list it with a real estate agent or even with property developers in Cyprus, as they have access to a large pool of potential buyers, and can help you to negotiate a good price for your property.

Market your property

In addition to listing your property with a real estate agent, you should also market your property yourself. You can do this by creating a listing on online property websites or by contacting Cyprus property management services to make an advertisement request.

Show your property to potential buyers

If you are listing, for example, villas for sale in Cyprus, you will start receiving inquiries from potential buyers. It is important to show your property to multiple interested parties, as it will also help you to get the best possible price.

Negotiate the price

Once you have found a buyer for your property, you will need to negotiate the price. This will depend on a number of factors, including the condition of the property, the location of the property, and the current situation with Cyprus property prices.

Close the sale

After agreeing on a price with the buyer, you will need to close the sale. This involves transferring ownership of the property from the seller to the buyer, alongside paying the necessary taxes and fees.

Attend REALTYon EXPO

If you would like to take the next step and explore a wealth of real estate opportunities in Cyprus, look no further than REALTYon EXPO Cyprus 2023, taking place at Parklane Hotel resort in Limassol on 28 and 29 June. Register now and get your free pass here: https://realtyon.com/register/
We hope to see you there!

Get the lowdown on purchasing property in Cyprus so you can make your next real estate investment on the island a successful one.
Whether you are looking to make your first move in the Cyprus real estate market or you are a return investor on the hunt for the next project for your portfolio, it is really important that you understand what you are doing before you begin to invest.
That is why we have put together this helpful and informative guide, which includes some of the most useful tips and strategies – so you can have every base covered, with regards to purchasing property in Cyprus.

Choose a suitable location

When it comes to searching for real estate investment opportunities in Cyprus, location is everything. Indeed, where the property is situated can have a major impact on several key factors associated with real estate, including property type, funding requirements, and the potential return on investment (ROI).
Despite being a relatively small country, Cyprus’ housing market presents a diverse range of properties. For example, townhouses, villas, and holiday apartments are prevalent in the Paphos and Famagusta districts, with these areas generally cheaper to buy and rent.
On the other hand, Limassol is typically more attractive to luxury investors, featuring premium real estate with high spec interiors, which tend to offer very high ROI potential. Meanwhile, Larnaca and Nicosia also have lot of investment potential, each offering an excellent mix of both low budget and high-end investment projects. Selecting the right area for your investment needs is a good starting point.

Factor in additional costs

Before venturing into the world of investment properties in Cyprus, it is essential that you are fully aware of all the various rules and regulations, so you do not get stung with any unexpected fees or delays later on. Remember to factor in any additional costs when buying a property, including budgeting up to 15% of the purchase price, so you can cover the various fees and taxes attached to the sale.
It is highly recommended that you use an independent property lawyer in Cyprus to ensure that the buying process runs as smoothly as possible, as they will act in your best interests and help protect your assets. Independent legal advice from a conveyancing lawyer who is an expert in Cyprus property law should ideally be priced into your overall budget.

Get a registered agent

If you decide to choose a real estate agent, it is strongly advisable to go with one that is a licensed member of the Cyprus Real Estate Agents Association. Doing so will help protect you from fraud, whilst also guarding against you coming into contact with any real estate agents that are operating illegally.
A professional real estate agent can help you to familiarise yourself with the island, showing you the various kinds of property available and advising on the best ways to get the most out of your money. It can give you peace of mind knowing that you have someone who is experienced and knowledgeable to help you through the buying process.

Keep things organised

While it is an often underrated strategy, keeping yourself organised during the property buying process is just as important as any of the previous tips we have shared in this article. With so much to keep a track of, real estate investment can often be an overwhelming experience for some people, but it does not have to be this way.
Through proper planning, you can keep yourself updated every step of the way. A good tip is to create a checklist with deadlines added in, which will allow you to trace the various tasks that need to be completed throughout the process. Remember to retain all correspondence and store every piece of property-related paperwork in one place, so you can easily refer back to it when required.

Attend REALTYon EXPO

You are ready to take the next step! We hope you enjoyed reading the article and found some of our tips and strategies useful about buying property in Cyprus.
Now you have gained further insight, would you like to get exclusive access to thousands of Cyprus-based real estate projects, with a vast catalogue of options suited to your specific investment needs?
You are in the right place, as the largest ever property EXPO to be held in the Mediterranean is coming to Cyprus very soon! We hope to see you at REALTYon Cyprus 2023, taking place at Parklane Hotel resort in Limassol on 28 and 29 June.
Register now and get your free pass.

Discover everything you need to know about purchasing property in Limassol’s premier coastal city.

Limassol is the second largest city in Cyprus, situated on the southern coast of the Mediterranean island. It is a thriving city, home to a sprawling metropolis and stunning seafront promenade – a prime example of where the city meets the sea. While it is a popular tourist destination, known for its beautiful beaches, mild climate, and vibrant nightlife, in recent years, Limassol has developed into a major hub for real estate investment, providing fertile opportunities for the purchasing of high-end, luxury properties. In this guide, we will take you through all the key information you need to know about buying real estate in Limassol, including how to get started, the types of property available, and the benefits of investing in the city.

Set your objectives

The first decision you need to make before purchasing a property in Limassol is understanding what your long-term goals are. For example, are you planning on residing permanently in Cyprus or will you use your property as a holiday home? Also, will you be renting out your property, rather than living in it yourself? Your answers to these questions will dictate the location, budget, and the number of properties you wish to buy. Knowing what you aim to achieve out of your property investment is an important starting point, which will ultimately help you narrow your focus down to the most suitable luxury homes in Limassol.

Decide on a budget

When it comes to Limassol property prices, there are an array of options available to you. The price of Limassol apartments for sale varies depending on the location, size, and condition of the property. However, it is possible to find luxury properties in Limassol for a fraction of the price of similar properties in other European cities. There are several beneficial factors associated with property investment in Limassol. Firstly, the prices are highly competitive, in comparison with similar warm climate destinations. Secondly, the country has a favourable tax regime, with some of the lowest rates anywhere in the EU. Other additional benefits include a stable economy, strategic geographical location, and a high quality of life.

Select a property type

Once you have set your property goals and budget, the next step is to decide on the type of property for sale in Limassol that you wish to buy. Fortunately, the city has an excellent diversity of available housing, making it an attractive destination for investors. There really is something for everyone here – whether it’s a seafront apartment or a traditional stone house in the mountains, you will find a property to fall in love with. Some of the most popular types of luxury properties include penthouses, villas, and townhouses. Penthouses offer stunning views of the city and the Mediterranean Sea. They typically come with a number of amenities, such as private pools, gyms, and parking. On the other hand, villas offer spacious living and outdoor areas and are often located in quiet, secluded neighbourhoods. Meanwhile, townhouses offer the best of both worlds, combining the privacy of a villa with the convenience of being close to amenities.

Understand the process

The next step is understanding the rules associated with buying property in Cyprus, so you know what you need to do in order to complete the transaction legally and securely. The first factor you need to consider is the various taxes and fees applied to sales, including stamp duty, property tax, and registration fees. You will also need to make sure you meet the legal requirements for investing in property in Cyprus. You can purchase property here provided you are over 18, have a clean criminal record, and (if you are a non-EU citizen) get the necessary approval from the Council of Ministers. A real estate lawyer can assist you with the process, including the various paperwork involved, so that your property acquisition in Cyprus is a quick and smooth affair.

Attend REALTYon EXPO

You are nearly there! Now you have learned all about the ins and outs of buying property in Cyprus, you are ready to make the next move. Would you like to gain exclusive access to thousands of Cyprus-based real estate projects, with a vast catalogue of options suited to your specific investment needs?
You are in luck, as the largest ever property EXPO to be held in the Mediterranean is coming to Cyprus very soon! We hope to see you at REALTYon Cyprus 2023, taking place at the Parklane Hotel in Limassol between 28-29 June. Entrance tickets are free of charge, so don’t delay, register now!