Friday, 25 January 2008

Cyprus Property Regulations

By William Marind

A survey on any resale property is strongly recommended, just as it would be in the UK or elsewhere. Our Cypriot team or your lawyer will be able to recommend a surveyor to you. He will inspect the property and prepare a report, eventually showing any defects, which would not be visible to everyone's eyes. It will save you unpleasant surprises at a later stage, and depending on the type of defects stated (if any), you may get a reduction on the price or you maybe in a position to request the vendor to repair them, or insist additional guarantees be inserted in the contracts. One thing is for sure; you will know what you are buying. A surveyor will not allow his love for a property to cloud his judgement as you may have done.

Permission to purchase a property must be obtained from the Council of Ministers by written application. This must be submitted by the non-Cypriot purchaser after the agreement has been signed. However, the permission is granted more or less as a matter of course to all bona fide buyers. In the meantime purchasers may take possession of their property without restriction.

Upon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval.When this is issued, it will have to be deposited at the District Lands' Office so that the registration of the building on the title deed of the land is effected.

Developers usually offer two-storey villas with three to four bedrooms, with two bathrooms, living/dining room and kitchen with breakfast area. Often the option of a swimming pool is also given.Prices vary according to the location and area of land involved.

The seashore protection zone is independent of the town planning zones. It is a zone which extends from the sea and it usually (but not always) has a width of approximately 300 feet. Within this zone no building can be allowed, even a small hut, ice cream shed or a swimming pool. When there are ancient monuments close to your plot, be careful to examine whether the Director of Antiquities has any objections to a building project. If a plot of land is classified as an ancient monument area, the Director's approval must first be sought.

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