ACCORDING to the World Bank ‘Doing Business’ report for Cyprus, dealing with building permits requires eight procedures and takes a mind-boggling 507 days!
This ranks Cyprus at 120 out of the 190 countries that were surveyed. According to the World Bank’s analysis it takes 240 days just to update the Title Deed!
In Germany, dealing with building permits takes 126 days, in the UK it takes 107 days, while the average time in Europe and Central Asia 168 days.
As we reported in September, Cyprus’ planning and building permit processes are (hopefully) being overhauled with the ultimate goal of creating a modern legal framework for development licensing, significant strengthening of building control and reducing delays.
Cyprus has been working with the Austrian Finance Ministry to develop proposals and recommendations based on best international practices to rationalise Planning and Building Permits, Certificates of Approval, the enforcement of building control, the issuance of Title Deeds. (It takes the Austrian authorities 222 days to deal with building permits, which require eleven procedures.)
Cyprus also comes in at number 92 of the 190 countries surveyed regarding real estate registration. It involves seven procedures and takes 9 days, but of particular concern is the high cost; 10.4 per cent of the cost of the property compared with the average cost in Europe and Central Asia of 2.5 per cent.