The buying process in Cyprus
In Cyprus, we work with the largest developers on the island, both on the northern part of the island and on the southern, European part.
The business partners have built dozens of projects and government contracts and have been in business for over 35 years, employing over 1000 people, participating in the planting of forests ( each client has a tree ) , helping the animals on the island and using solar energy and the best building materials in their projects.
Most of our projects are located in the fastest developing area of the island : Iskele , it is the area that was chosen as the best investment by the sea for 2021 and worldwide ! There is a demand for real estate from all over the world and projects are selling fast. We also offer properties in Kyrenia and Esentepe , where there are breathtaking sea views and beautiful mountains. We also offer property in Paphos , it is currently the best developing city for investment in the South of the island, there are several world famous golf courses and the airport is only 25 minutes from our projects.
We have a representative from the Czech Republic on the management team in Paphos , so you will be 100% taken care of.
We are the exclusive agent of the developer , this means that we and our clients buy directly from the seller. This means that you do not pay us any commission as it is the case in the Czech Republic and Slovakia.
For 10 years we have been your representative at sea in different countries of the world. We own properties in Cyprus ourselves and know the local market perfectly. We do all pre and post-sales services through our partner.
We were the first to bring you the opportunity to buy property abroad! We are a purely Czech company and we guarantee the result of the transaction and every crown you spend.
How the selection and subsequent purchase of the property, the procedure:
- Write or call us and we will discuss what your intention is. We will give you professional and fair advice. We will discuss your requirements, technical parameters such as size, location, etc. and we will select your dream property together.
- You can also take a look at our website WWW.MOJENEMOVITOSTUMORE.CZ and choose a property from our offer.
- You decide how you want to view the property, most clients choose to view on site , however for many busy clients we can arrange everything seamlessly remotely, from the actual selection of the unit, the payment plan to the selection of furniture and appliances and the rental of your property , you don't have to go anywhere and sort anything out , our Cyprus specialists will be happy to arrange this for you. We will explain the terms and conditions and the benefits of visiting the property and the projects on site.
What will I pay beyond the above?
- It depends on the project itself, somewhere we include free furniture and appliances , somewhere we don't.
- VAT is 5% in the North
- At the moment it is a new higher rate of registration at the Land Registry and transfer of land share to your name, when it is up to date , we will put it in the procedures. In the past it was 3% , now it will definitely be a higher percentage.
- If you are investing for rental and resale purposes during construction we will advise you on the best way to invest.
- In the South, VAT on the first property is 5% to 19% - depending on the use ( permanent residence or rental ) , legal services about 1500 euros and the registration at the land registry and the transfer of the land share another 3000 euros
- Each developer has its own legal department therefore legal services may vary.
What will be the cost of running the property?
- You will only pay for utilities and water according to consumption ( only during your stay while you are on site in your beachfront property ) during the year the property is rented out and you pay nothing for overhead ( we will advise )
- The insurance of the property will cost you approximately 120 euros per year, automatically deducted by the management company from the rental income
- You will also pay an annual maintenance fee , we always tell you the amount in advance . The annual maintenance fee includes services related to the running of the project in which your property is located such as: pool maintenance, security 24x7 , grass cutting , green maintenance , use of the fitness center , spa area , pool , repair of the facade of the buildings, electricity in the common areas, elevator and more
- The annual property tax in North Cyprus is approximately 3 CZK per m2!
- Also water , electricity and gas are comparatively cheaper , it is also an island of students , there are more than 25 universities and students from all over the world, there is British law , it is a former British colony , the actual process of buying a property is much easier than here.
How do we take care of the running of your property after you buy it?
- We will take care of the water and electricity in your name.
- Arranging holiday property insurance is a matter of course.
- We will take care of the rental and operation of your property together with the developer, the season here is long and the rental is year round. I heard that Mojenemovitostumore.cz has a portal ready for clients
- Yes, that is correct. We value every client, communicate long term and help with the subsequent management of the property. We are not a company that lures you to buy and that's the end of it.
As proof and something extra, we have created a CLIENT PORTAL for our clients available at klienti.mojenemovitostumore.cz where you can manage your property - the Client Portal is available to you for free.