# Buying a holiday home



## kempo23 (Apr 27, 2012)

I am sure that this query has been covered in several posts previously, but after a quick search i cannot seem to find any suitable answers.

I am seriously looking at buying a holiday property in Cyprus (3 bed villa with pool in Paphos / west coast area) for personal use and short periods of rental. I would appreciate any feedback / advice on the following:

- What would be the average price of this type of property?
- Are there bargains / deals to be had?
- Have prices stabilised or still falling?
- What are the average running costs for this sort of property?
- I know a pool is essential, but what are the running costs?
- Is it cost effective to 'shut down' the pool during winter?
- What are the average rental charges for this type of property?

Any general advice, do's and dont's, etc would also be greatly welcomed.

Neil


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## Veronica (Apr 5, 2008)

kempo23 said:


> I am sure that this query has been covered in several posts previously, but after a quick search i cannot seem to find any suitable answers.
> 
> I am seriously looking at buying a holiday property in Cyprus (3 bed villa with pool in Paphos / west coast area) for personal use and short periods of rental. I would appreciate any feedback / advice on the following:
> 
> ...


Hi Neil,
Welcome to the forum.

Prices of properties like this vary depending on the area, the size of house, size of plot, condition etc. You could pay 250K for one or you could pay 350-400K.
There are certainly bargains now compared to 2 years or more ago. Prices seem to have stopped falling but there are still some which the owners will take lower offers on if they are desperate to sell.
A pool is only essential when it comes to rentals but for full time living many people now say they would never have a pool again as you are maintaining them for 12 months of the year to probably use them for only 4 months.
If you are not living full t ime you will need a pool maintenance guy ang with chemicals, electricity and paying someone to look after it it will cost you about 100euros per month to run.
The company who installed our pool tell us it is not cost effective to shut them down. They have nightmares with pools that have been shut down for the winter trying to get them right again. You just need to reduce the time on the pumps for the winter months.
For average rental charges I would suggest you look at some rental sites to get an idea of what people charge.

Kind regards
Veronica


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## kempo23 (Apr 27, 2012)

Thanks for the feedback.

I am looking around Tala, Peyia, that sort of area and am a cash buyer.
I would also like to own a boat at some stage. Are there local brokers? How about mooring fees?

I must say that unlike most other EU countries, buying property in Cyprus should come with a health warning! I have read many reports regarding fraudulant developers and solicitors, poor build quality, etc. Any tips to ensure that I do not get my fingers burnt when buying anything in Cyprus?

Neil


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## Veronica (Apr 5, 2008)

As a cash buyer you are in a good position as you do not need to r ely on a developer to get a mortgage. 
The safest buys are properties with title deeds. If full title deeds are not available, for instance someone has bought a piece of land and had a house built got deeds for the land but not yet had the house added you are still safe as anything on the land belongs to you. 
If a property was built and sold by a developer but has not yet got title deeds then at the veryleast you want it to have an AX number. This means that the final certificate has been issued and the process of issuing title deeds is underway.
However in this case you must make sure your lawyer checks that the developer has not got a mortgage on the land or you could still lose your home if the developer goes bankrupt. The only 100% safe house is one with title deeds.

As for boating. We have friends who have sailing boat which is pulled out of the water when not in use so no mooring fees apply. If you want something larger which you need to have mooring for you will find that the fees are not as much as other mediterranean countries. 
There is a sailing club in Paphos which two of our clients who bought through us are members of.


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## Cleo Shahateet (Feb 23, 2009)

Just get your own survery done on the property, your own lawyer which I would ask around about - people will be more than happy to tell you who you shouldn't use and do your research as you already are and you should be fine. 

There are villas like what you mentioned in small complexes of 4-6 villas that have communal pools which may be easier than shutting down in winter and it can be a nice way to socialize with neighbors.


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## kempo23 (Apr 27, 2012)

I will be in Cyprus for 2 weeks during June and intend to do some serious property searching. Whilst I do not expect to find the 'perfect property' I am at least hopeful of deciding upon the area I wish to buy.

What is the 'normal' period from agreeing a price to taking ownership?


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## Veronica (Apr 5, 2008)

kempo23 said:


> I will be in Cyprus for 2 weeks during June and intend to do some serious property searching. Whilst I do not expect to find the 'perfect property' I am at least hopeful of deciding upon the area I wish to buy.
> 
> What is the 'normal' period from agreeing a price to taking ownership?


I have known it to happen within days when there are full title deeds and the buyer is a cash buyer. Mostly though you need to allow as much as 4 weeks.


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## kempo23 (Apr 27, 2012)

Time really is not a problem as i am in no hurry, although would be good to have something by the end of the year. I cannot see property prices increasing in the short to medium term, indeed all the reports suggest that they will continue to decline, so i think time is on my side.


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## Da Funk (Jun 5, 2010)

Personally after buying in Cyprus and having property here for 7 years I would advise you not to buy ANY property in Cyprus. With a crystal ball and hindsight I wouldn't have bothered buying after all the bad experiences I am aware of and encountered. The attitude and corruption of government officials, lawyers, banking staff is unbelievable. 

If you are adamant you want to buy and being in the fortunate position as a cash buyer then you will obviously have no need for some of the above. However I cannot stress enough do not buy anything unless you are receiving the title deeds. People will tell you what you want to hear and even if they have an AX number still do not buy. I currently have my AX Number and have done so for well over a year. I went to the land registry to find out more details regarding my house and plot and the government officials were rude and very reluctant to divulge any information, it was almost as if they were protecting the developer. Even though it was my plot, my property, my AX number, my contract of sale etc. it is honestly not worth the hassle, I cannot stress this enough and I am not the only one to go through this I know many other people who have had the same treatment from government officials.


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## kempo23 (Apr 27, 2012)

Thanks for your comments, I have read many more like them. The more I look into buying property in Cyprus the more wary I become. Whilst not discounting it as a place to buy, I am now looking at other countries where there are some good (and safer) deals to be had. What I find ludicrous is how the government of Cyprus allow this to go on. Surely in this economic climate they should be encouraging investment from abroad, or is it (like Greece) they dont want us there??


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## Da Funk (Jun 5, 2010)

kempo23 said:


> Thanks for your comments, I have read many more like them. The more I look into buying property in Cyprus the more wary I become. Whilst not discounting it as a place to buy, I am now looking at other countries where there are some good (and safer) deals to be had. What I find ludicrous is how the government of Cyprus allow this to go on. Surely in this economic climate they should be encouraging investment from abroad, or is it (like Greece) they dont want us there??


You are very right to be cautious. I was in the Larnaca District office only a few weeks ago and had a meeting and tried to explain to them in a very diplomatic and polite way as to why there is such a reluctance in British and overseas buyers unwilling to buy in Cyprus. I explained that the title deeds is an issue and how developers are mortgaging land and property with banks with people they have already sold to. I explained that there needed to be more communication with the buyers aswell as the developers. They honestly do not believe it and they all think it is down to the world recession why no one wants to buy in Cyprus. They really do not care and I can see Cyprus heading down the Greece route if that is how there government officials behave and that is there attitude. I know many people who have money to invest but they wouldn't touch Cyprus with a bargpole. I also went to the village local council building again to get information regarding what taxes the developer had paid so I could verify he had indeed paid them. The Oroklini council office told me to go to the land registry for this information. The practically said they had the information but they were afraid to upset the developer by giving me this information. When I went to the land registry to ask for this information and any additional information regarding the transfer of title deeds and what taxes the developer had paid there reply was we have done our job transferring it to the developer and it has nothing to do with us and basically that they don't care.

Now the developer has the title deeds and they are saying they are not ready to transfer to me as there is some "complications" Suffice to say it now looks like I will be having to get my lawyer involved at even more expense to myself. I could tell you so many horror story's ranging from the developer, government officials, bank staff even the lawyers. I cannot stress enough if you do buy only buy property with title deeds. In all honesty I wouldn't buy knowing what I know now.


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## Da Funk (Jun 5, 2010)

What can we expect from the land registry office that looks like a shambles on speed? The last time I visited their office only a few weeks ago in Larnaca I was amazed that in this 21st century you could see such a shambles. Hardly a computer in sight and the only one that was evident pre-dated 1985, brown paper files scatted all over the floor and desks. The only staff moving with any conviction were those distributing coffee and sticky cakes. People waiting to be served? The usual Cypriot bun fight! Why can’t they grasp the simple action of having a numbered ticket dispenser and a display showing who is next to be served? Instead it is barge, push, elbow and something resembling a rugger scrum to push their way to the counter. 

Everyone's details is paper files that goes for the banks and lawyers aswell. They do not back anything up or scan or copy anything, everyone's files is in a flimsy brown paper folder. If this is how they work with the correct information could you imagine what it would be like of they lost the file or if there was a fire in the building?


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## Guest (May 11, 2012)

It must be better to loose 1 paperfile then to loose all in a computer server crash.

I dont defend the system in Cyprus but it is their system. If everything is so horrible why stay here. There is many other places in the world

Many writes about the Cypriots not liking UK and other expats and if all they here is how bad their country is then I can understand them.

I have been fortunate to live in many countries all over the world and the key has always been to adjust to the system, not try force the system to adjust to you. 

I dont think that UK would change if the expats tryed to change the UK system.


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## Veronica (Apr 5, 2008)

Vegaanders said:


> It must be better to loose 1 paperfile then to loose all in a computer server crash.
> 
> I dont defend the system in Cyprus but it is their system. If everything is so horrible why stay here. There is many other places in the world
> 
> ...


Well said Anders Unfortunately some people forget that when you are in a foreign country things are not always done the way you are used to and think that everyone should adapt to how they want it rather be willing to adapt to how things are done in the coutnry they have chosen to live in.
It is unfortunate that some people have had bad experiences buying here but the fact is that the vast majority of people who own here are happy with their decision.
Unfortunately in the Larnaca area there are a large number of developers and lawyers who have failed their clients miserably. We met the lawyer who has been taking on cases against fellow lawyers with a great deal of success and he told us that Larnaca has by far the largest number of bad lawyers and developers.
Thank heavens we don't sell much property in that area because it sounds like a nightmare over there. Give me Paphos any day, we know who to trust here and who not to trust so have nothing but happy clients:clap2::clap2::clap2::clap2:


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## Da Funk (Jun 5, 2010)

Veronica said:


> Well said Anders Unofortunately some people forget that when you are in a foreign country things are not always done the way you are used to and think that everyone should adapt to how they want it rather be willing to adapt to how things are done in the coutnry they have chosen to live in.
> It is unfortunate that some people have had bad experiences buying here but the fact is that the vast majority of people who own here are happy with their decision.
> Unfortunately in the Larnaca area there are a large number of developers and lawyers who have failed their clients miserably. We met the lawyer who has been taking on cases against fellow lawyers with a great deal of success and he told us that Larnaca has by far the largest number of bad lawyers and developers.
> Thank heavens we don't sell much property in that area because it sounds like a nightmare over there. Give me Paphos any day, we know who to trust here and who not to trust so have nothing but happy clients:clap2::clap2::clap2::clap2:


This is not something that has happened overnight this has been happening for years. That is why there are over 40,000 expats waiting for the there title deeds. It is very naive of you to think that this only happens in Larnaca. Do you really think that 40,000 expats waiting for title deeds all live in Larnaca. There seems to be too many people particularly on this sight that have a them and us menatality between the east and the west of Cyprus ie Paphos and Larnaca, Ayia Napa, Protaras. If you really think it is all a bed of roses over and no one has been effected by similar circumstances then you are greatly mistaken. I know people from all over the island that have been effected by corruption from government officials, developers and lawyers. Of coarse not every single person on the island is like this but people need to be warned and no the dangers before buying in Cyprus. I have travelled and lived all over the world also. 

As for accepting that it is the "Cyprus " way, I've never heard anything so riduclous in my life. If you think it is acceptable for people to be handing over tens and or hundreds of thousands of pounds in cash for property in good faith that they don't technically own and could lose because developers are remortgaging the land or because of governments officials not having a clue what to do then you are sadly mistaken. If I help at least one person from going through some of the problems I have encountered then it is worth telling them about the problems they may encounter.


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## Veronica (Apr 5, 2008)

I didnt say it only happens in Larnaca. I said that Yiannis Georgiades said that there are far more rogue developers and lawyers in the Larnaca area than elsewhere.


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## Guest (May 11, 2012)

Da Funk said:


> This is not something that has happened overnight this has been happening for years. That is why there are over 40,000 expats waiting for the there title deeds. It is very naive of you to think that this only happens in Larnaca. Do you really think that 40,000 expats waiting for title deeds all live in Larnaca. There seems to be too many people particularly on this sight that have a them and us menatality between the east and the west of Cyprus ie Paphos and Larnaca, Ayia Napa, Protaras. If you really think it is all a bed of roses over and no one has been effected by similar circumstances then you are greatly mistaken. I know people from all over the island that have been effected by corruption from government officials, developers and lawyers. Of coarse not every single person on the island is like this but people need to be warned and no the dangers before buying in Cyprus. I have travelled and lived all over the world also.
> 
> As for accepting that it is the "Cyprus " way, I've never heard anything so riduclous in my life. If you think it is acceptable for people to be handing over tens and or hundreds of thousands of pounds in cash for property in good faith that they don't technically own and could lose because developers are remortgaging the land or because of governments officials not having a clue what to do then you are sadly mistaken. If I help at least one person from going through some of the problems I have encountered then it is worth telling them about the problems they may encounter.


As anywhere else you live in the world you have to accept the rules in the country where you in fact are a guest. If anyone a UK citizen should know how it works. I am 100 % sure that you would not agree to change 1 of your stupid UK laws because a group of Cypriots told you that the system is stupid.

I agree with you that the Title Deed and mortgage system is not good and have to be changed

And if I was to hand over that sum of money I would be 100% sure how it will work. If I dont find that out, and its well known, then I have my self to blaim in a way.

And ofc there is crooked people in this business as in any other business, but that is a worldwide phenomena. Believe me I have seen much worse examples during the last 25 years of living abroad. Spain, Greece, The Canary Islands are all good examples of the problem. In fact, one of the biggest svindlers were from UK, John Palmer

The way to not get problems is to prepare yourself. Read, listen to them who has done this before, take references etc. This forum is a good example of where you can get good information

We will soon buy a house in Cyprus. I am not at all afraid getting scammed because I know I have made my homework. It has taken time but it will be worth every cent. Now I just look forward to soon be able to make the last move in my life and start to enjoy the Cyprus way of life

If you have had a bad experience I feel sorry for you as for all others that have problems. 

But again, never forget you come as a guest to another culture, a culture that have goods and bads. If you cant accept that and adjust to it then you are in the wrong place


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## Veronica (Apr 5, 2008)

John Palmer is only one of many British scum bags who have swindled their fellow Brits. We have had several of them working here in Cyprus, Andrew Nolan, Ian Beaumont, Darragh McAnthony are just some examples.
These people are parasites who prey on others and when things get too hot they run off and start again in another country.
One project that has been in the news is Paradise Hills which was covered on the TV programme holiday homes fromn hell. The programme failed to mention that the 'developers' were in fact Brits and left people assuming that it was Cypriots. 
One of the partners was a British Born Cypriot while the others were a husband and wife who were British. One of the partners in fact ended up in jail for drug dealing. The scum of the earth.


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## Geraldine (Jan 3, 2009)

Veronica said:


> John Palmer is only one of many British scum bags who have swindled their fellow Brits. We have had several of them working here in Cyprus, Andrew Nolan, Ian Beaumont, Darragh McAnthony are just some examples.
> These people are parasites who prey on others and when things get too hot they run off and start again in another country.
> One project that has been in the news is Paradise Hills which was covered on the TV programme holiday homes fromn hell. The programme failed to mention that the 'developers' were in fact Brits and left people assuming that it was Cypriots.
> One of the partners was a British Born Cypriot while the others were a husband and wife who were British. One of the partners in fact ended up in jail for drug dealing. The scum of the earth.


It has been interesting reading these threads, but also have to agree that property swindling is global.

I have a good friend in the UK, she is very astute, she and her Turkish husband bought an apartment in Turkey which they used, only to get a phone call one day from a neighbour to tell them all their belongings were outside in a heap.

The solicitor who dealt with their purchase had moved in.

Years later the issue is not resloved, they appeared on TV on Holidays Homes From Hell, they have a London lawyer acting for them, when they were purchasing, they were told that because the husband was Turkish, some of the paperwork was irrelevant. 

I think the moral is 'Trust No-one', not even your own countryman, better to have recommendations from others.

I did a house swap 18 months ago, we had four lawyers involved, the 2 Brits I knew well, I worked with one, my Cypriot lawyer was highly recommended, the other Cypriot lawyer was a pain, holding things up, getting docs wrong. I was relieved when it was finalised.

DO YOUR HOMEWORK AND GET RECOMMENDATIONS FROM OTHERS.


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## Pam n Dave (Jun 11, 2007)

If your thinking of buying a boat then also have a look around the Polis/Latchi area, but stay away from the local developer based in Latchi as they seem to have a few unsatisfied customers.


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## Da Funk (Jun 5, 2010)

Vegaanders said:


> As anywhere else you live in the world you have to accept the rules in the country where you in fact are a guest. If anyone a UK citizen should know how it works. I am 100 % sure that you would not agree to change 1 of your stupid UK laws because a group of Cypriots told you that the system is stupid.
> 
> I agree with you that the Title Deed and mortgage system is not good and have to be changed
> 
> ...



I have learned the hard way buying without title deeds this is why I am offering my experience to anyone and everyone in saying do not buy in Cyprus at any cost with out title deeds including a property with AX Numbers. ONLY BUY A PROPERTY WITH TITLE DEEDS! Lots of my neighbours in Cyprus would say the same thing. I am not naive to think there are are not other countries that have other problems with buying and selling and of coarse you should do your research before buying. I actually did quite a lot of research and did several visits to the island before committing. I just never realised how bad and how corrupt the government was until years down the line. 

The swindlers issue I also agree with and is completely unacceptable in any country. I have seen the holiday homes from hell programme and feel so sorry for that people. I have see the holiday homes from hell show in the UK aswell. The good thing is at least the UK has NHBC which holds builders accountable and the owners know that any major structural issues will be fixed by the builder and if not then buy the NHBC for up to 10 years. Not too mention you get your keys and title deed in your hand when you buy in the UK. As for having to adjust to the Cyprus system, I agree every country has there own culture which is fair enough but I do not and never will agree on the title deeds issue in Cyprus it is completely wrong and corrupt. The simple line is if ANYONE is buying and handing over large amounts of money and life savings then in return they should be receiving there title deeds and keys in there hand on the same day. For all the sins that the UK has and I have bought, sold and rented out property in Scotland at least you get your keys and title deeds in your hands when you hand over your money.


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## Da Funk (Jun 5, 2010)

Vegaanders said:


> It must be better to loose 1 paperfile then to loose all in a computer server crash.
> 
> I dont defend the system in Cyprus but it is their system. If everything is so horrible why stay here. There is many other places in the world
> 
> ...


Seriously no your wrong it would not be better to lose your whole paper file, are you for real??? It would be better if they had everything on a computer system and had everything backed up and also had a paper file as an additional back up.

I did not say everything is horrible in Cyprus, I said the government officials are corrupt and do not care about the problems going on with the title deeds issue and treat UK people like 2nd class citizens.

I have also been fortunate to travel the world with my occupation. There is a difference between adjusting to people's culture and being treated like a 2nd class citizen from corrupt government officials which is completely unacceptable.

As for the U.K. changing for expats, unfortunately they have and that is the problem there. Too many expats and foreigners coming into the U.K. and claiming benefits while the average U.K. person is supporting them, but hey that's another issue and nothing to do with Cyprus system and corrupt.


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## Guest (May 12, 2012)

You just said that tomany foreigners coming to UK and claiming benefits. You react on that but then Cypriots must be able to react in the same way. Or..

I think that a majority of the expats coming to Cyprus nowaday is people with a pension, this because of the problem with jobs. 
This people all claim benifits like free healthcare. They have not contributed any tax to the Cyprus state. Perhaps this is why some Cypriots dont like the expats coming

Much of this lays in history. Cyprus and its citizens was not very well treated during the period as a British colony. Everyone admits that. It will take time to heal.

But how you can accuse all Cypriot goverment officials to be corrupt. Have you met all? In every country there is bad apples in the basket, also in UK.
I have paid my way through UK customs without getting a reciept more then one time when some document was missing

I agree that the Title Deed problem has to be solved. But again, this is a problem for all buying a new home in Cyprus, regardless if he is Brit or Cypriot, Swede or Russian


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## cds usa (Jan 4, 2011)

Da Funk said:


> Seriously no your wrong it would not be better to lose your whole paper file, are you for real??? It would be better if they had everything on a computer system and had everything backed up and also had a paper file as an additional back up.
> 
> I did not say everything is horrible in Cyprus, I said the government officials are corrupt and do not care about the problems going on with the title deeds issue and treat UK people like 2nd class citizens.
> 
> ...


I agree that buying property in Cyprus has it's pitfalls and risks and make no mistake, Cypriots are just as affected as expats. I disagree that it's due to corrupt government officials, although they do exist, it's more due to loopholes in the system, apathy and a real reluctance to prosecute the crooks. 
Those developers swindled a lot more natives than expats so they don't really discriminate.

I am a Cypriot, I speak fluent Greek and yet anytime I need to get anything done with any sort of government official is extremely painful. They are inefficient, unmotivated and for the most part are waiting for the day to be over so they can go home. If you land one of those jobs you are hired for life. 

It's definitely not an acceptable level of service and for those of us that experienced well run government/civic services and know it can be done, is maddening. Don't feel alone though, Greek Cypriots are treated just as poorly. 
And I hate that in many cases you have to take a third party with you to do the paperwork that they get paid to do! 
This laid back attitude also has benefits, they are not as quick to repossess your house if you can't make the payments, for example.

Speaking up is totally acceptable, I don't feel it's Cyprus bashing and as a contributing member of the local society you have a right to point out the faults to the status quo. If every expat stayed with the attitude that everything should be accepted as is, the animals on the island would have no voice. Because of expats they have a place to go!

A lot of non natives misjudge Cyprus maybe because of the feeling you are in paradise but it has it's share of bad people just like everywhere else in the world. 

When buying property, which as Veronica pointed out people do successfully every day, go with your eyes wide open and armed with as much knowledge as you can! Know the local system and don't assume that it must work the same way as anywhere else. Your life's savings are on the line!

JMHO
We are about to start the very painful process of building a house, I may feel differently then if the stress of dealing with the whole lot of them doesn't kill us first!


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## kempo23 (Apr 27, 2012)

It really is good to hear other peoples views and experiences, this can only help others. In these sorts of discussions it is normal to have the 2 extremes, good experience and bad experience. However, it is abundantly clear that it is a case of "buyer beware" when purchasing in Cyprus. I for sure will not purchase without title deeds, without these you do not legally own the property. Maybe if everyone took this stance it might force the government to do something about the situation, afterall it is the Cypriot economy that will suffer in the long term if this does not improve soon.


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## Da Funk (Jun 5, 2010)

cds usa said:


> I agree that buying property in Cyprus has it's pitfalls and risks and make no mistake, Cypriots are just as affected as expats. I disagree that it's due to corrupt government officials, although they do exist, it's more due to loopholes in the system, apathy and a real reluctance to prosecute the crooks.
> Those developers swindled a lot more natives than expats so they don't really discriminate.
> 
> I am a Cypriot, I speak fluent Greek and yet anytime I need to get anything done with any sort of government official is extremely painful. They are inefficient, unmotivated and for the most part are waiting for the day to be over so they can go home. If you land one of those jobs you are hired for life.
> ...


You couldn't have worded it better. I agree it is not all corruption but also ineffiency, no motivation and a lack of care and service. Some people on here are taking it personally and think I am attacking the Cyprus as a whole, which I am not. I have met some wonderfull Cypriots. Unfortunately the unpleasant experiences have mostly been with government officials, the banking staff and the developer and it's staff.

I do not live in Cyprus but it is my second home and I have had my property for 7 years now and myself and family visit regularly. If I didn't like it I wouldn't come back. Lots of my neighbours are looking to sell and have had there property on the market for several years now and unfortunately and the accept they will never be able to sell there house until they get there title deeds. This is clearly wrong and although some people keep changing the subject my main point I keep putting across is NO ONE should ever buy in Cyprus without a title deed in place because I gaurentee it will cause stress, disappointment and heartache.


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## kempo23 (Apr 27, 2012)

Even if the title deeds are available, what other 'dangers' are lurking in the process?


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## Da Funk (Jun 5, 2010)

Vegaanders said:


> You just said that tomany foreigners coming to UK and claiming benefits. You react on that but then Cypriots must be able to react in the same way. Or..
> 
> I think that a majority of the expats coming to Cyprus nowaday is people with a pension, this because of the problem with jobs.
> This people all claim benifits like free healthcare. They have not contributed any tax to the Cyprus state. Perhaps this is why some Cypriots dont like the expats coming
> ...


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## kempo23 (Apr 27, 2012)

Pam n Dave said:


> If your thinking of buying a boat then also have a look around the Polis/Latchi area, but stay away from the local developer based in Latchi as they seem to have a few unsatisfied customers.


Due to all of the bad publicity regarding developers in Cyprus, I am looking for a resale property only. Unfortunately, all developers in Cyprus have been tarnished by the 'rogue traders', even the good ones, of which I am sure there are many.
Again, buyer power will force the construction industry to self regulate as people will steer clear of new developments. It is a buyers market now and will remain so for many years to come.

With regards to the Polis / Latchi area, are prices generally similar to towns around Paphos?

Are there boat sales in the Latchi marina?


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## cds usa (Jan 4, 2011)

There is the risk of the owner getting a mortgage on a property just as you are buying I think, but I never understood how it works and how you check that the title is free and clear. Here in the states you pay a title company to do a search and they warranty their results.
Maybe Veronica can explain, please?


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## Veronica (Apr 5, 2008)

kempo23 said:


> Even if the title deeds are available, what other 'dangers' are lurking in the process?


If the title deeds are available there should not be any 'dangers lurking'.

The danger without title deeds is that the developer could still have money owing on the landand if he goes bankrupt the bank has first call on the land. Title deeds will not beissued to the buyer if any money is outstanding on the land and once the deeds are in the buyers name no one else can borrow on it. The only thing you must make sure of is that the seller has not borrowed on it and if they have your lawyer should make sure that is paid before the seller gets a penny from you.


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## Pam n Dave (Jun 11, 2007)

kempo23 said:


> Due to all of the bad publicity regarding developers in Cyprus, I am looking for a resale property only. Unfortunately, all developers in Cyprus have been tarnished by the 'rogue traders', even the good ones, of which I am sure there are many.
> Again, buyer power will force the construction industry to self regulate as people will steer clear of new developments. It is a buyers market now and will remain so for many years to come.
> 
> With regards to the Polis / Latchi area, are prices generally similar to towns around Paphos?
> ...


Prices are generally similar in the Polis/Latchi area but may rise due to the new golf course which is under construction.

There are boats for sale in the Latchi Marina but I don't know your budget so can't really be more helpful. 

We picked this area because it's more rural but still reasonably handy for Paphos.


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## kempo23 (Apr 27, 2012)

Veronica said:


> If the title deeds are available there should not be any 'dangers lurking'.
> 
> The danger without title deeds is that the developer could still have money owing on the landand if he goes bankrupt the bank has first call on the land. Title deeds will not beissued to the buyer if any money is outstanding on the land and once the deeds are in the buyers name no one else can borrow on it. The only thing you must make sure of is that the seller has not borrowed on it and if they have your lawyer should make sure that is paid before the seller gets a penny from you.


But this is just common sense! It is normal practice for a solicitor to do these types of searches in the UK. Are you saying that this is not done as a matter of course in Cyprus? How can I "make sure that the seller has not borrowed on it"? What are you paying solicitors for if not to do these sorts of checks and be made accountable?

I am getting more concerned!


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## kempo23 (Apr 27, 2012)

Pam n Dave said:


> Prices are generally similar in the Polis/Latchi area but may rise due to the new golf course which is under construction.
> 
> There are boats for sale in the Latchi Marina but I don't know your budget so can't really be more helpful.
> 
> We picked this area because it's more rural but still reasonably handy for Paphos.


Thanks for the feedback. I will certainly take a look at the area when I visit next month


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## Pam n Dave (Jun 11, 2007)

kempo23 said:


> Even if the title deeds are available, what other 'dangers' are lurking in the process?


The planning rules are different here so you may not be consulted on any further developments. You need to be wise about what may be built nearby.

Check the rates (known as bins), some areas seem to be able to create rules so that you may pay double what the locals do.

Check the price of water, our is cheap and not currently scheduled to increase. Other areas are predicting a 100% price increase according to the press.

If the property includes community spaces then check the charges and what is included in the fees and if there are any measures to check if the services have been delivered.

Like the UK it's good to look at properties in the winter months if possible to find any areas where damp may penetrate as it tends not to show once dried out, establish where the prevailing wind comes from then look around the window frames and even though there may be double glazing it may not be draught proof.


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## Veronica (Apr 5, 2008)

kempo23 said:


> But this is just common sense! It is normal practice for a solicitor to do these types of searches in the UK. Are you saying that this is not done as a matter of course in Cyprus? How can I "make sure that the seller has not borrowed on it"? What are you paying solicitors for if not to do these sorts of checks and be made accountable?
> 
> I am getting more concerned!


Yes of course it is common sense but in the past some of the lawyers here were very lax with their searches. They are now much more diligent as there have been several law suits against lawyers for failing to do their jobs properly so in fact that problem should not arise now. The lawyer we always recommend to our clients has always done the relevant searches which has resulted in us losing some sales when they found out there were problems but we would rather lose a sale than put someone into a problem. We live here and intend to be around for many years and don't want to have people gunning for us. All of our clients become friends and that is how we want it to stay.


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## Da Funk (Jun 5, 2010)

kempo23 said:


> But this is just common sense! It is normal practice for a solicitor to do these types of searches in the UK. Are you saying that this is not done as a matter of course in Cyprus? How can I "make sure that the seller has not borrowed on it"? What are you paying solicitors for if not to do these sorts of checks and be made accountable?
> 
> I am getting more concerned!


There is a lot you would think is common sense in Cyprus but you will find common sense goes straight out the window in Cyprus! Question everything even with your solicitor! Do not take anything for word, everything you do should be in writing! One thing I have found that happens in Cyprus a lot is that they tell you what you want to hear and have a very selective short memory and this can be everything from buying goods, lawyers, developers, agents, bankers, government officials. Trust no one and get everything in writing! Sounds like common sense, but it really does apply in Cyprus!


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## Veronica (Apr 5, 2008)

Da Funk said:


> There is a lot you would think is common sense in Cyprus but you will find common sense goes straight out the window in Cyprus! Question everything even with your solicitor! Do not take anything for word, everything you do should be in writing! One thing I have found that happens in Cyprus a lot is that they tell you what you want to hear and have a very selective short memory and this can be everything from buying goods, lawyers, developers, agents, bankers, government officials. Trust no one and get everything in writing! Sounds like common sense, but it really does apply in Cyprus!


I totally agree, make sure you get everything in writing. Many people think a promise on a hanshake is OK but too often that means nothing. The more someone tells you they are honourable and you can trust them the more suspicious you should be. Always, always get things in writing.


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## Pam n Dave (Jun 11, 2007)

I've just seen Veronicas post, you need to choose your lawyer wisely. They are not all the same and it's best to get a recommendation rather than get one from the yellow pages. If someone involved in the sale points you in a direction then ignore it.

Lawyers here don't seem to be accountable, sad but true.

This thread seems to be painting everything black, it isn't, you just need to be very careful as the usual checks and balances don't seem to be in existence here.


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## Geraldine (Jan 3, 2009)

kempo23 said:


> Due to all of the bad publicity regarding developers in Cyprus, I am looking for a resale property only. Unfortunately, all developers in Cyprus have been tarnished by the 'rogue traders', even the good ones, of which I am sure there are many.
> Again, buyer power will force the construction industry to self regulate as people will steer clear of new developments. It is a buyers market now and will remain so for many years to come.
> 
> With regards to the Polis / Latchi area, are prices generally similar to towns around Paphos?
> ...


I'll say it again, you need someone you can trust when property buying, who better than Elysianfields?? Veronica and Denis will make sure you have the title deeds and a professional lawyer. I ran my Cypriot lawyer past Veronica before I instructed him and he got the thumbs up.


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## kimn (May 23, 2012)

*Selling*



Veronica said:


> As a cash buyer you are in a good position as you do not need to r ely on a developer to get a mortgage.
> The safest buys are properties with title deeds. If full title deeds are not available, for instance someone has bought a piece of land and had a house built got deeds for the land but not yet had the house added you are still safe as anything on the land belongs to you.
> If a property was built and sold by a developer but has not yet got title deeds then at the veryleast you want it to have an AX number. This means that the final certificate has been issued and the process of issuing title deeds is underway.
> However in this case you must make sure your lawyer checks that the developer has not got a mortgage on the land or you could still lose your home if the developer goes bankrupt. The only 100% safe house is one with title deeds.
> ...


Hi Veronica
This is my first ever visit to a forum & as you give sound, real advice, I hope you can help my husband & I regarding property in Cyprus. We bought our villa from a developer in Paphos a few years ago as an investment while we were still living in Dubai, but we got retrenched & couldn't afford the monthly payments anymore, so we agreed for the villa to be repossessed by the developer. We do not have the title deeds for the property. Now our so-called "administrator" for the property group has told us that as & when the villa gets sold, we will have to pay them any damages, losses etc. Could you please help us with some advice as to our situation? We are now living along way away from Cyprus, in Australia & would really appreciate some help as we feel we have been left in the dark by these people. Could you recommend a lawyer, should we need one? Thanks.


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## Veronica (Apr 5, 2008)

kimn said:


> Hi Veronica
> This is my first ever visit to a forum & as you give sound, real advice, I hope you can help my husband & I regarding property in Cyprus. We bought our villa from a developer in Paphos a few years ago as an investment while we were still living in Dubai, but we got retrenched & couldn't afford the monthly payments anymore, so we agreed for the villa to be repossessed by the developer. We do not have the title deeds for the property. Now our so-called "administrator" for the property group has told us that as & when the villa gets sold, we will have to pay them any damages, losses etc. Could you please help us with some advice as to our situation? We are now living along way away from Cyprus, in Australia & would really appreciate some help as we feel we have been left in the dark by these people. Could you recommend a lawyer, should we need one? Thanks.


Hi Kim,

There is a lawyer in Nicosia called Yiannos Georgiades who has taken on many cases against developers
Yiannos Georgiades - Advocate / Partner - GMSK Solicitors LLP
He has a very good name.
Also if you go to our sister forum, Property Community For Overseas Real Estate News, Forums, Blogs, Discussions and Comments there are threads on there about certain developers who have left people with problems and some of these developements have facebook groups etc of people who are grouping together to fight.


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