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Buying land in Cyprus

26.03.2021

Buying land in Cyprus

When buying land in Cyprus, a foreign citizen should take into account a number of restrictions of local legislation. A foreigner can purchase a plot of no more than two donums (1 donum = 1337 m2) for the construction of a building. At the same time, the owners of a local residence permit have the right to apply for an unlimited number of land plots, if they confirm their five-year stay in the country.

The process of buying land in Cyprus takes place in several sequential steps:

• checking the status of the land and its actual owners,

• independent appraisal of the cost,

• inquiries to the land registry and the register of land title holders,

• obtaining data on the percentage of permitted buildings, height and type of permitted buildings,

• obtaining official permission for the purchase of the site.

After these procedures, you can begin the execution of the contract for the sale of the Cyprus plot.

The liquidity and value of Cypriot land depends on factors such as the proximity of the sea, transport routes, investment-attractive infrastructure projects, as well as the specifics of state development plans for the area. Plots in Paphos or Larnaca regions will cost about € 250-350 per sq.m. Land in the Limassol area will cost more - here prices range from € 400 to € 1000 per sq. m.

As a rule, land plots with utilities are put up for sale: electricity, water supply, sewerage and telecommunications.

One of the most popular and attractive investment areas is Ayios Tychonas. The value of land plots here is growing every year despite the crises. And what views open up from there! Take a step towards your dream - your home by the sea.

 

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