What is important to consider when buying land in Cyprus: our recommendations

Purchasing plots of land in Cyprus is a significant investment that requires careful consideration and preparation.  And whether you are planning to build a house in Cyprus for personal use, build several small apartment buildings or invest in a site for future development with a high return on investment (ROI), it is necessary to carefully study the market, taking into account both current trends, and the prospects for the development of a particular region.

This will help you make informed decisions, maximize your potential income and ensure sustainable growth in your investment portfolio.

📌 Read also: Why is it now profitable to invest in land in Cyprus and real estate construction

The process of buying land in Cyprus includes many stages, from a detailed market analysis and selection of a suitable plot to the preparation of all necessary documents and permits.

In this article we will look at the key aspects that should be taken into account when buying land in Cyprus.

✔️ Detailed check

Once you have selected a potential site, begin a comprehensive detailed due diligence process that includes various aspects:

• Legal aspects: make sure that the site has legal title, free of any legal encumbrances or disputes.
• Location assessment: Assess the infrastructure, surroundings and suitability of the site for residential or commercial purposes.
• Site Boundaries and Shape: Check the site boundaries and ensure that the site shape meets your project requirements.
• Building Density: The maximum number of square meters you are allowed to build, expressed as a percentage of the land area. It often happens that the plot of land itself looks attractive, but the development rate is only a few percent of the total area of the plot. This restriction may not be sufficient to implement the desired construction project, and the buyer faces restrictions in implementing his construction plans.
• Access and roads: check for registered access roads to the site.
• Green areas and soil quality: Ensure that there are no restrictions due to green areas and evaluate the quality of the soil for construction purposes.
• Permissible height and number of floors: restrictions in this context can influence the architectural possibilities of the future structure. It is important to consider that even if the characteristics of the site itself are attractive, compliance with these restrictions can significantly affect the planned design and functionality of the building.

At this stage, it is critical to obtain reports from all stakeholders before making financial commitments.

✔️ Determining the cost and intrinsic value of land in Cyprus

The valuation of land in Cyprus includes various factors:

• Proximity to urban centers.
• Scale and zoning of the site.
• Terrain and access to transport links
• Proximity to necessary services.
• These elements, as well as additional costs such as taxes, legal and agency fees, determine the total investment costs.

✔️ Financial feasibility and planning

Before making any payments, understand the financial feasibility and viability of your project. Determine the permissible size of the building (in square meters), number of floors and buildings. Gain insight into your potential return on investment (ROI) to ensure your investment is secure.

✔️ Completion of the transaction and future steps

You should check your sales contract carefully and discuss anything you are unsure about with your Cypriot lawyer before signing it. The transaction will then be formalized at the Land Registry, where you will receive documents confirming ownership.

✔️ Next steps

• Company registration and bank account opening: our Cypriot lawyer will assist in company registration and bank account opening for the project.
• Capital Transfer: Transfer the required capital to your company to start the project.
• Architectural process and obtaining permits: a team of architects will prepare all the necessary documentation, advise you and submit your project for building and planning permits. They will also create 3D models of the project’s development.
• Sales and marketing: if your plans include the sale of built real estate, begin to develop a marketing and sales strategy to successfully promote the property on the market.

By following these steps and turning to experts, you can go through the process of buying land in Cyprus smoothly, ensuring a successful investment.

If you want to buy land for development in Cyprus, our company offers profitable properties. Our offers cover various areas of Cyprus including Paphos, Limassol, Larnaca and are ideal for those looking for development land.

Article author

Elena Georghiou Founder and Managing Director
Ukraine

Elena Georghiou – Founder and Managing Director of Feod Group. Has two higher educations: the first at the Odessa State Polytechnic University, majoring in automation and computer engineering (1986) and second in the Moscow State Law Academy, majoring in law (1991). Has work experience in London i...

Elena Georghiou – Founder and Managing Director of Feod Group. Has two higher educations: the first at the Odessa State Polytechnic University, majoring in automation and computer engineering (1986) and second in the Moscow State Law Academy, majoring in law (1991). Has work experience in London immigration law firms. Is a regular participant in seminars and trainings on immigration, corporate and private law of the European Union. Elena Georghiou has more than 25 years of legal experience and heads the specialized Residency and Citizenship practice across European countries, UK and USA advising HNWIs and their families on:

• immigration planning;
• consultations on obtaining alternative (second) citizenship;
• Residency and Citizenship by Investment;
• business immigration;
• preparation of appeals, working with complex immigration cases.

She advises individuals and corporate clients for wealth/business structuring and assets protection. Central to her Managerial role in the company she initiated and united high level lawyers and other top professionals around the word in order to provide Feod Group clients with bespoke level of legal and business services word wide, keeping the staff focused on the opportunities and challenges faced by each individual client. Speaks Russian, Ukrainian, English.

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