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Costs of owning an apartment in Cyprus

Did you know that if you buy an apartment in Cyprus you must contribute to the costs of insuring, maintaining, repairing and managing the jointly-owned parts of the building?

IF you have bought or are buying an apartment in Cyprus or a property in some other form of complex, it will probably have a number of areas that you share with the other owners.

A building in Cyprus that consists of at least five self-contained units is considered in law as being jointly-owned. Such buildings may include:

  • Apartment blocks.
  • Terrace/town houses.
  • Maisonettes.
  • Building complexes.

Buildings consisting of two to four units may also be registered as commonly owned on application to the District Lands’ Office by a majority of the owners of the units.

If you own property in such a development, you are required by law to contribute to the insurance, maintenance, repair, restoration and management of the jointly-owned parts of the building; in essence those parts that you share with the other owners. These may include entrance halls, stairways, exterior walls, swimming pool, tennis courts, etc. (whether you make use of them or not).

The law

All jointly-owned buildings must have a management committee which regulates and manages all relevant affairs.

The proportion of the share of each owner in the expenses is prescribed by the Regulations based on the area of each unit.

The regulations are submitted at the Lands Office of the District, where the jointly- owned building is located, and are registered by the Director with an entry made in the Land Register. These regulations govern the relations among the owners of the units, determine their rights and obligations and should also make provision for the control, operation, administration, management and enjoyment of the units and of the jointly-owned property.

The Director of the Department of Lands & Surveys has the power and/or the obligation to intervene in matters concerning the management of any jointly-owned building only upon an application filed with the Lands Office of the District where the property is situated and upon payment of the relevant fees by the applicant/owner of any unit.

Application forms

In an effort to assist both the owners of the units and the management committee, the Department of Lands & Surveys has prepared application forms for:

  • Appointing a Temporary Management Committee.
  • Appointing a Management Committee.
  • Registering the regulations.
  • Calculating the area of the units.
  • Determining the share allocated to each unit.
  • Applying to the Director to call a General Meeting of the owners of the units.

Further information

The English language version of the Jointly Owned Buildings Law of 1993 is a must read for those who have bought or are thinking of buying a property in a jointly-owned building such as an apartment, a terrace/town house, a maisonette, etc.

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