Title deeds

Hi not sure wether to buy or rent in cyprus and have heard some really scary things about never fully owning the title deeds does anyone have any advice on this subject please? Thanks

Depends a lot on the property you buy for sure villa townhouse bungalow or apartment and location.... I know it shouldn't but it does ..just be sure to use a really good lawyer a number of lawyers have been identified...

Don't be put off by these stories these things do happen but with a good lawyer plenty of due diligence and research most people are fine ....

Rents are getting very very expensive by the day .......if it suits you then fine... I would be the last person to criticise renting as we rented for 13 year as it suited us and we had really good rents......but we bit the bullet last year and bought without a problem

You can always ask to see the official deeds held by the seller or ask for a copy to be checked And translated (as deeds are in Greek) by your lawyer to ensure the seller(s) is/are named on the deeds and his due diligence once you start the process will highlight any encumbrances  debts etc

@Toon thank you Toon 😊

I personally wouldn't buy without deeds... but... It has to be said many people buy without deeds and there is nothing wrong with that as long as you do your own due diligence and you get a property at the right price .. use a good surveyor if you feel it would make you more comfortable. As long as you are aware of the reasons behind there being no deeds as there is always a reason for it ..... ..check out what can be done and cost to get them......NB there are moves afoot to make it a little easier to obtain them

Warning of unsafe areas to build in Cyprus

Unsafe areas to build in Cyprus

The Cyprus Geological Survey Department is warning citizens regarding the protection of their immovable properties, reviewing the geological suitability zones where investment is not recommended.

The Department has defined 13 areas including parts of Pera Chorio – Nisou, Tochni, Athienou, and Pissouri where no new development/building/construction can occur.

The Department also defined another 113 areas where no new construction or addition to a current construction is recommended.

These zones which were defined followed by detailed research and studies covering 55% of the island or 85% of the area controlled by the Republic of Cyprus.

On the Department's website, users can navigate into a geographic environment and find additional geological information including fossils, mineral wealth, groundwater, geomorphosites, etc..

The areas that are described according to their level of danger include the following:

Zone 00: The area is threatened by geological risks, and is characterized by instability and increased danger. No new development is permitted in this Zone. T

Zone 00A: The area is threatened by geological risks, and is characterized by instability and increased danger. These geo-dangers have negative and disastrous consequences on the structural environment, which are related to:

Active landslides, such as Mathikoloni, Pissouri, Armou, etc.

Unstable rock masses, such as Episkopi Pafos, Skali Aglantzias.

Large landfills (Vati, Kotsiatis, Agia Marinouda, Kavo Greko) etc.

Estuaries of large rivers, such as Kourris, Diarizou, etc.

Very high water table, such as lakes / wetlands (Voroklini, Paralimni), salt marshes (Akrotiri, Larnaca) and areas near dams.

Sinkholes, such as Pergamos, Maroni, Pera Chorio – Nissou.

Zone 01: This area is offered for development but a preliminary geological study is requested. The site is threatened by geological risks that might have negative and disastrous consequences on the structural environment. These risks vary in degree of danger relate to:

Areas where landslides can occur or with areas where there are ancient landslides which are inactive,

Unstable slopes and slopes with logs or rock detachment,

Areas where landfills were or are operating which must be assessed and remediated prior to development,

Areas with underground burrows,

Areas where sinkholes may appear, usually around the perimeter of zone 00 or 00A associated with sinkholes but also areas with large streams where gypsum rocks pass,

Areas surrounding large bodies of water where there is a large seasonal fluctuation of the water table (lake Paralimni, Voroklinis) or soils with a high salt content (Akrotiri salt flats, Larnaca)

Zone 02: The area is threatened by geological risks that might have negative and disastrous consequences on the structural environment but specifically on big constructions.

Zone 03: No indication of any geological risks, threatening the structural environment.

The increase in house prices accelerated in the second quarter of 2022, mainly due to the increased construction costs, reports the Cyprus Central Bank in its quarterly House Price Index (HPI) report.

The bank's HPI recorded increase in apartment and house prices of 1.7% compared to 1.1% in the previous quarter, while on an annual basis the index increased by 4.7% compared to 3.2% in the previous quarter.

Although increases in apartment prices exceed those of houses in all districts on an annual basis, house prices are now also increasing.

For the first time since the outbreak of the pandemic, all districts are showing year-on-year increases in both apartment and house prices, indicative of the upward trend in prices across the spectrum of the housing market.

Demand in the real estate market during the second quarter of 2022 recorded an upward trend (both domestically and from abroad), while there were signs of a downward trend in supply. The war in Ukraine has intensified inflationary pressures, with a significant impact on construction costs, but currently does not appear to have adversely affected demand.

In the medium term, the increase in the cost of borrowing, due to the rise in interest rates, as well as the erosion of incomes due to inflationary pressures, are expected to reduce demand, but without necessarily reducing prices, which are currently due to rising construction costs