Property for Sale in Cyprus

Although buying in Cyprus is generally no more risky than buying anywhere else, it's important to make sure that you get good quality, independent legal advice.

This means that your solicitor should not be linked in any way to the developer or agent you are buying from.

If you are buying a new build, make sure that the contract clearly states exactly what level of fit and finish your new home will have and make sure that when each staged payment is due, you or someone you can trust inspects the property to ensure it has met the required standard before releasing the next payment.

It's a good idea to travel to Cyprus independently when you start looking for a property - that way you can look at properties being sold by several different agents and developers.

All estate agents are required by law to be licensed and have insurance. A licensed estate agent is required to advise you of the bad points as well as the good ones about any property.

You should make sure you do not use one of the many non-registered agents - ask to see the license which must be displayed in the office. Legal estate agents are members of CREAA, the Cyprus Real Estate Agents Association.

The costs of a mortgage arranged in Cyprus
Mortgage deposit: the minimum amount you need to provide as your deposit for a mortgage depends on your residency.

For Cyprus residents it is possible to arrange a 90% mortgage
For EU residents minimum amount of deposit is 20% of the purchase price, and 25 or 30% is not unusual.
For residents of non-EU countries, the minimum amount of deposit is usually 30% of the purchase price.