Buying Property On The Island Of Cyprus
The property that is for sale across the entire island of Cyprus – North and South – is varied. Condominiums, single-family homes and apartments – all for purchase or rent – have sprouted up coast to coast. Other options including foreclosure homes and villas that could be renovated are also available to anyone who is willing to put the time into them.
Potential investors need to keep in mind that they will need to have all of the proper residency papers filed before signing any binding contract if they are looking at property and are not citizens of the United Kingdom. If they are planning on being there for more than three months at a time, they will need temporary residency status and works visas if applicable. Retirees must follow this process for the first five years of their stay, upon which they can then apply for permanent status.
When seriously considering property in Cyprus, they will want to contact a real estate agent to help them out. The agents will be knowledgeable about what is available, features, cost, and other issues that may be pertinent to the purchase and sale. Any investor will want to carefully review any contracts that are issued and have their lawyers review them as well. As each country has different rules to follow, it is best to know if there is anything that could hinder the process before hand.