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Archive for March, 2007

Common Expenses

Last year we took delivery of a new property in Cyprus. It is a holiday flat at Kissonerga in Pathos. A couple of weeks ago, we received a bill from the developer for what he calls ‘Common Expenses’. We sent him an email asking him to tell us what this is for but he hasn’t […]

The Cyprus Foreign Property Market

In advance of its Real Estate Index, the firm of Antonis Loizou & Associates has released some interesting facts and figures about the Cyprus property market. The statistics show that: Around 20% of the total real estate demand in Cyprus comes from overseas property buyers. Bearing in mind that non-Cypriots favour certain areas, this is […]

Buying Land in Cyprus

Buying Land in Cyprus Many thanks for the information about the roof for our property in Cyprus. In your reply, you say that our architect will be able to advise us of the costs of the various options. We don’t have an architect, but we’ve seen a plot of land we like and the person […]

Capital Gains Tax on the Sale of Property in Cyprus

Due to our increasing age and failing health, my wife and I have decided to sell our property in Cyprus and return to the UK. Someone has told me that we’ll have to pay Capital Gain Tax. Is this true? Answer Thanks for your email, I’m sorry to hear that you’re having to sell up […]

What Sort of Roof Should We Have?

We are planning to build our own home in Cyprus and I understand that you’ve done the same. We’ve seen a number of properties and visited a number of different building sites and we both have a good idea of what we want in our new home. We’ve seen many designs and styles of roofs […]

Can the Property Developer Do This?

Question I recently put a deposit on property in Cyprus; an apartment in Paphos. It’s a resale property that was bought by the present owners off plan. Unfortunately the developer who built the apartment is being awkward and is reluctant/refusing to sign the release(?) agreement. Can he do this? I understand the property is registered […]

Cyprus Warns Foreign Companies to Refrain from Land Deals in North

INTERIOR Minister Neo?lis Silikiotis said that companies which engage in illegal sale or purchase of Greek Cypriot properties in the Turkish occupied north of Cyprus will not be allowed to operate in the Republic of Cyprus. The Minister made the comment after a meeting with US Ambassador to Cyprus Ronald Schlicher during which they discussed […]

Buying Property in Cyprus – What to Buy?

Whether buyers are looking for new or resale property in Cyprus, the choice and price range seem almost endless. In recent months I’ve seen properties advertised for as little as 20,000 and as much as 4,000,000! The majority of expatriates buying property in Cyprus will buy ‘off-plan’ from one of the many property development companies. […]

Commonly Owned Buildings

According to law, housing complexes comprising five or more units are required to have an Management Committee that regulates and manages relevant affairs. This includes the insurance of the common parts of the complex (entrance halls, swimming pools, stairwells etc) as well as their maintenance and repair.

Cyprus Home Prices Slightly Up in February 2007

In February, home selling prices in Cyprus recorded a marginal increase of 0.3% over the previous month. The BuySell Home Price Index reached 120.14, bringing the average home price to £ 93,598. The company started to produce its property price index in 2004. It shows the movement of prices at which residential properties in Cyprus […]

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