Buying property in Cyprus any advice ?

Hey Steph and welcome,

I am glad you brought up this question as its a very inportant one

Buying a property on a Cyprus complex with a pool in Paralimni requires checking the Title Deeds, asking about high communal maintenance fees, and confirming who maintains the pool and pays for repairs. Complexes involve shared rules, management committees, and extra yearly costs.

Key Questions to Ask

1. Do separate Title Deeds exist for the specific property, or only a master deed for the whole land?
2. What are the exact annual communal fees, and are there any upcoming special levies for major repairs like pool replastering or lifts?
3. How is the management committee run, and is there a professional company in charge?
4. What are the complex rules regarding pool use, quiet hours, and renting the property to tourists?
5. Are all communal areas and the pool fully licensed and legally compliant with local planning laws?

What to Look Out For

1. Unpaid communal bills from other owners, which can leave the complex short of cash for pool upkeep.
2. High running costs that increase every year if the pool or gardens need constant fixes.
3. Restriction on short-term rentals if you plan to use the property as a holiday investment.
4. Shared liability for structural or utility problems in the common areas.

Should you have any other questions please ask away. Are you a non EU citizen?

@SimCityAT

Thank you so much some very useful information. I am a non Eu citizen. Coming out in October to look at some properties. Has anyone heard of Island Homes estate agents in protoras?

It is quite active the forum so you should get an answer, hopefully from @Toon, he is the forum expert.

You can always check out reviews on Google in the meantime if that's any help.

SimCityAT

Expat Team

@Srogers4

We bought through Island Homes with Lillia and Sarah who are both great, Sarah is on some of the place in the sun TV shows, Sarah is very knowledgeable and will be able to answer any of your questions, good luck with it xx

@nicollajayne

Brilliant I have spoke to Sarah and she is over with the place in the sun at Bham in September so will meet her then.... Thank you 😊

Hi,

I bought an apartment through Island Homes which was completed earlier this year. Sarah and her colleagues were very knowledgeable and helpful.  I would definitely recommend them.

@Srogers4

Yes island Hone are quite well known agent in the area. Another very good one is Blue Surf Property.

https://www.bluesurfproperty.com/

speak to Karen Louca.

I echo.much of what has been said here.

I bought.on a complex which was at the time said to be well run. However in my experiences communal.living is not for the fainthearted.

Check the communal accounts if you can get the vendor to.provide a GDPR set. Had I known the reality I would not have bought..Anyway not all complexes are problematic but many are. And it's usually the same issues... With the odd unique ones.

The usual issues are dissatisfaction with committee, property management company, quality of workmanship  and lack of upkeep mainly due to self inflicted financial constraints.

All tend to be driven by high fees or fees kept.low  for many years but that then leads to deteriorating property as services gets cut etc repairs don't get done or they fail regularly on roofing, drains structural issues, external and internal communal area painting.. NB Roofs,walls, painting, drainage sewage treatment, are expensive to maintain properly.

Then you have non-payers and deliberate habitual.late payers Resulting in heavy debts never ever getting paid leading to those who pay taking the pain of costs. Taking defaulting owners  to court through legal recourse via protocol.letters and civil procedures 2023 is not as easy or as quick as you might think. Not to mention expensive...

Non payers will and do use every trick  in the book to not pay or delay any payment..as they all know that many complexes  hold extreme levels of debts and they can't afford to take them to court. If they do go down the legal route with all the expense involved they can put the complex in a difficult financial position.

Committees are usually in a very difficult position to manage the complex and it's financials as it's a thankless task and not as easy as owners think. Bearing in mind not many owners are wiling to put themselves up for a committee role .

Cap224 the Immovable Property and Tenures act currently is weak and doesn't protect owners and committees as well.as it should..Hopfully the new draft of cap224 will.address many of the historic failures. Am not holding my breath on that though as it's been in draft form for over two.years and still not been ratified or legislated. all of which takes time..

Check to make sure there are no outstanding bills on the property get an independent survey done make sure there are no owner communal.fee debts .

Speak to existing neighbouring  owners visit the complex at different times of day and night. Take note of wherce owner and.tenant rubbish and abandoned household goods includeing cars are located.

Check if parking is allocated.Check covered parking areas and balcony  ceilings are well maintained and not showing burst concrete  or falling plaster work and reinforcement bar. Check gardens are maintained, check pool location for potential noise and sewage treatment plant /septic tank location for high season smells and servicing access.

If on a top floor check.where the solar panels water tanks and pumps are in relation to the.property,similarly lifts they can be noisy.

Check how many properties are empty or are tenanted. Many tenants are great and take care of hproperties but just as many don't care.

Bottom line caveat emptor ..do the research, the reality is often very different from what you see  or are told.

zNever use the same lawyer as.the seller no matter how much you think you might save.. there is always a reason why it's suggested it's not necessarily in your favour as the buyer

Don't be afraid to ask awkward questions make your lawyer ask them about your concerns ..it's a big investment. MISTAKES OR NOT ASKING IS COSTLY.

GOOD LUCK

Also note that this law is what you sign up to as soon as you get your title deeds (preferable clean deeds i.e. no notes) and take receipt of your keys..that includes the contract of assignment and  purchase agreement.

Owners take on board the legal liability and mandatory responsibilities associated with property ownership.

https://mhalloumas.com.cy/wp-content/up … OPERTY.pdf

@Srogers4

definitely ask about how much the Syndic fees are - they can be a large percentage of your monthly cost.

Definitely look at Paphos as well if you require ROI (return on investment) because Paphos will be higher than Famagusta.

no less than 15 developers showed us a selection of their properties in our price range before we decided on an apartment in a complex with a pool in Chlorakas, Paphos

watch these videos:

https://youtu.be/Lc2YD4zIfLs

https://youtu.be/x139_p-8D84

A further check ..make sure the person selling has the right to sell to you (Note the same goes for renting) that they are the registered owner at the Land Registry.

If land is included check that the boundaries are clearly designated by way plans and not subject to any ownership claims. And that you can legally access that land