Any Development In The Future Will Require A Planning Permission As Well As A Building Permit

Category: Finance.

Action to be taken and points to bear in mind when buying your own plot to build your own house. Visit the area that you are interested in and ask the local residents directly, or in case of a village, if there is, the village muchtar land for sale.

Seek a suitable plot. Seek the assistance of a registered estate agent who may be in a position to offer to you alternatives but bear in mind always that most local sellers do not use the services of estate agents. The Town Planning Act. Developers will have to take out an insurance in order to indemnify purchasers for wrong doings. This law( expected to be fully enforced very soon) regulates development and it will supersede the liberal town planning zoning which exists at present. Any development in the future will require a Planning Permission as well as a Building Permit.

It requires the preparation of local plans for development and prior to any acquisition/ development of property, the inspection of these plans is a must. There is no difficulty in finding apartments to buy in any of the towns in Cyprus. There is also a tendency to sell apartments" on paper" . (ie when construction plans are still on the drawing board) , or during construction, as a means of raising part of the finance for the project. Land development into apartments is very common and there is an abundance available for sale at any time all over Cyprus, the vast majority being very new. Apartment prices are not uniform. Never sign anything or pay any money until you have sought legal advice in a language in which you are fluent from an experienced solicitor( ideally, someone who has been recommended) .Under no circumstances should you use a solicitor who has been introduced or recommended to you by a vendor, agent or developer. They vary to a great extent with the location, the quality of the project and the town where they are situated.

Firstly, a preliminary contract is signed. This is subject to the purchaser being able to receive good title to the property and obtaining the necessary permits from the Cypriot government. This binds both the vendor and the purchase to buy and sell the property on terms and conditions that have been mutually agreed. At this stage, a deposit is lodged with a Lawyer or a Notary. The purchases lawyer will now carry out the searches at the District Land Registry to ensure that the vendor of the property is indeed, the owner and ensures that the purchaser obtains good title to the property.

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