The final step in buying a property in Cyprus is to obtain the title deeds. This is a process that requires a lawyer to complete. The lawyer will check the relevant paperwork and conduct various searches. These searches include checking for any debts on the property or exemptions, which have become increasingly common in recent years. Similarly, the lawyer will also check whether the property has the appropriate planning permissions.
Purchasing a house in Cyprus can be an exciting venture, but it can also be complicated. Depending on where you are buying your property, you might need to meet certain size requirements. For instance, a plot cannot be larger than 4,014 square meters. While purchasing a house in Cyprus is possible for foreigners, you may find it difficult to obtain a mortgage or a bank loan. If you’re unsure, try using a reputable international broker who can guide you through the entire process.
If you’re unsure of what type of property you’d like to purchase, you can use online portals such as BuySellCyprus. Estate agents in each town will take you to several potential properties. Be sure to determine your budget before visiting properties, as you may need to raise additional funds or share the cost with other people. Generally, it’s a good idea to add 10% more to your budget just to cover the costs of buying a property.