Looking at the figures collected in a year review of “Cyprus real estate market”, it is seen that the numbers of foreigners buying their properties in Cyprus have significantly been increasing. While there are different motivations to come to the country, some common factors are the hospitable nature of the people, the high living standard, and the low crime rate. For the business section, the incentives are offered for businesses, and the tax regime encourages hundreds of entrepreneurs every year.
Those foreigners who set their businesses in Cyprus get the same benefits are residents, where they enjoy the security of rights and the basic property acquisition process like any Cypriot. Hence, for anyone wanting to set a business in Cyprus, they need to understand the process of property acquisition. It all begins with the choice of the right property as per your specific purpose.
Cyprus Property Buyer’s Checklist
Here are a few things that are important for a person willing to invest in buying a property in the country.
Set your Requirements in the Country
The first step to getting the property you need is to look at the reasons for getting a property and decide what you are looking for. At this stage it may be important to look at the size of the property, or if there are any special requirements like if you a person in a wheelchair. Similarly, retirement is an important factor in the case. Hence, on your checklist, the requirement is a must.
Search for a Property
Searching for a piece of property in Cyprus is not a very hard job considering the technological developments where different sites can be accessed to search and find the properties. These sites have search options where you can set the criteria for the property that you are searching for. In this way, you can get the property that you need based on your requirements.
Choose a Piece of the Land
When a piece of land gets your attention like a building site or a field, the transfer will be dealt with at the department of lands and surveys because that department is assigned with this work. Within a few hours, you can expect the conclusion of the transfer. Because this is an easy job, you need to look at the other things before making this purchase. This includes the processes of Demarcation, access, planning zone, utilities, market zone, etc. You can easily Search properties in Cyprus through online platforms like https://www.scala.cy/ that can help you find the property you need.
Financing the Property
Once the important features have been considered, it is necessary to decide what amount of money can you afford to spend. This budget will help you set the price range for the properties you need to search for. You can talk to financial advisors in the case to help you with the financing process.
Inspect and make an Offer
Finally, when you have decided on the property that you want to get, make sure to take a clear inspection of the property, and then make the offer. Estate agents can help you with the process of making the offer and through the whole process itself.
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