How to buy

Yes, foreigners can purchase property in Cyprus, though there may be specific restrictions or requirements depending on nationality and the type of property.

In general, foreigners can buy houses, apartments, and land. However, there are limits on the number and size of properties one can own.

Purchasing a property without a title deed carries risks. You should understand the reason for the absence of a title deed and consult your lawyer before proceeding.

Apart from the property price, buyers should anticipate transfer fees, stamp duty, legal fees, VAT (if applicable), and utility connection fees.

The buying process can vary, but it usually takes 3 to 6 months from property selection to final ownership transfer.

Not necessarily. Many buyers grant power of attorney to their lawyers in Cyprus, allowing them to handle various aspects of the purchase without the buyer’s physical presence.

A reservation deposit temporarily removes the property from the market, typically for around 30 days, giving the buyer time for due diligence and contract preparations.

Generally, if the buyer backs out after paying the deposit, the deposit is forfeited. However, specific terms can vary based on the agreement.

Many buyers opt for mortgages provided by Cypriot banks. Ensure you understand the terms and meet the bank’s requirements before applying.

Once the construction is complete and all licenses are obtained, a final approval certificate is issued. The separate title deeds for each property are then prepared after this certificate is granted.