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Information

Buying Process

STEP 1: DECIDING TO BUY

Careful and considerate planning is essential to ensure that you choose the right property for the right reasons.

Once you register your interest with us, you will have our immediate support. Our dedicated team will take the time to listen to your needs to obtain a clear picture of your requirements, whilst answering any questions you may have. It is also possible to choose and reserve a property from abroad or whilst attending a property exhibition. In case you live in abroad, an inspection trip can be arranged.
Viewing of potential properties and locations most suited to your individual needs. Experience Cyprus lifestyle and the local offerings.
The contract will be prepared by a lawyer with full experience in property-related matters. Signing of the contract by both parties can take place when the following have been agreed and confirmed in writing: Property purchase price, terms of payment, specifications to be included and any other items/installations agreed. A deposit will be required, along with the signing of the contract of sale.
The buyer is recommended to open an account in a Cypriot bank for making the payments to the seller. The company will assist the buyer in this matter.
Once both parties have signed the contract, it must be stamped and deposited at the Land Registry department within 180 days. This process confirms that a specific property is registered in the name of the new owner. Once the contract is submitted, you are officially the owner of the property.
The company will keep you fully informed with the progress of the property until completion. Our team will listen to your needs and try to give you the best possible result. Approximately one month before your property is complete, we will send you a formal notice of completion. Once we receive the final payment for your property, we will arrange the delivery and key hand over.
Once an individual property or development is completed, the Land Registry Office issues separate title deeds. Then the company transfers the title deed for each unit to the corresponding purchaser. This process normally occurs within 1-2 years from the completion of a project.

Technical

Projects built by Cyview Developers are designed according to National and European standards. Great emphasis is given to sustainability because we deliver for longevity and we care about environment as much as our clients.

Sustainable construction should not be exclusive to expensive projects, but rule for any development.

Financial

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Transfer fees

Upon transfer of the property and registration in the purchaser’s name, the district Land Registry Office will charge transfer fees, which are based on the market value of the property at the time of the purchase. Properties which are subject to VAT will be exempt from the transfer fees.

Stamp duty


After signing the Contract of Sale, the purchaser may stamp it within 1 month of its signing by paying the stamp duty according to the value of the property.

Local Authority Taxes & Rates


Local authority rates and taxes vary according to each Municipality and the size of the property. This tax includes refuse collection, street lighting, sewerage, etc. The basic utilities of electricity, water and telephone are payable individually in accordance with the consumption.

V.A.T


Newly-constructed properties are subject to a standard rate of 19%.
VAT has been reduced to 5% for buyers of first residences up to 200 sq.meters.

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Most commercial banks in Cyprus are authorized to offer mortgage facilities to local as well as foreign applicants to assist the financing of their property. Financing can be also obtained from banking institutions abroad.
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