One of the countries with an attractive real estate market is Cyprus. Here, in addition to favorable natural and climatic conditions, it is worth highlighting laws that are friendly to homeowners and clear rules for the purchase, registration and use of housing. To select the desired option, it is suggested to use the services of MySpace real estate agency.
Requirements
For individuals and legal entities, non-residents of the country, there are practically no restrictions when purchasing and owning an apartment. If it was acquired in compliance with all laws and was properly registered, then such an object can be leased, donated, bequeathed or sold.
The only important requirement for citizens from outside the European Union is to obtain permission to purchase an apartment from the Council of Ministers of the country. In this case, two parameters are checked:
- The buyer has no criminal record or current problems with the law.
- The future owner does not have any other real estate in Cyprus. By law, a private person cannot own more than two objects with an area of up to 4,014 square meters. m. He and his wife are considered if they have a family.
The second point can be circumvented if you register a company in your name on the island and register an apartment in its name.
A title is issued for the purchased apartment; it certifies ownership; it will serve, for example, if you need to use the property as collateral for a loan. Properties for sale in Cyprus are offered from a reliable agency, where all legal requirements will be taken into account and documentation will be checked.
Choice
When purchasing an apartment, first of all you should decide on the number of rooms and their area. Also important parameters will be the number of toilets, the presence of a bath or shower room. Usually the number of bedrooms in the apartment is indicated, but when choosing, it is worth specifying the type of kitchen and living room; often these rooms are combined, forming a single space.
The location of the house where the windows face is important. Proximity to the sea is an additional factor that increases the cost. The sunny side in Cyprus means additional heating of the room, so windows and the balcony will need to be protected from direct rays.
The locality, its transport accessibility, the population of residents, the social and crime situation – all this should be taken into account when choosing housing. Often the price is lower due to these factors that are not obvious at first glance.
When choosing, be sure to take into account the purpose of the purchase: for permanent residence; rental to vacationers; for the purpose of investment in the hope of increasing value. These indicators can be influenced by various factors.
