Buying Guide

The Ultimate Buying Guide: Purchasing Property in Cyprus with Blue Surf Property

Are you considering buying property in Cyprus? With its stunning coastline, sunny climate, and high quality of life, it's no wonder that more and more people are choosing to invest in this Mediterranean paradise.

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At Blue Surf Property, we specialise in helping buyers find their perfect home, whether for relocation, a holiday retreat, or an investment opportunity. We are extremely proud of the fact that approximately 90% of our business comes from referrals and repeat customers - some who have bought and sold multiple properties with us over the years - so you can rest assured you are in the right hands! In this comprehensive guide, we walk you through the entire property-buying process, ensuring a smooth and stress-free experience.

The first step of your buying journey is location, location, location! Where do you want to live and most importantly, why? Having an idea of your preferences at the beginning of your journey helps to speed up the process, but if you aren’t sure, don’t fret, our sales consultants can help you pinpoint the best locations to suit your lifestyle. For those new to Cyprus, we are very happy to spend time showing you around the areas. It’s very important for us that our clients get the feel for each location, to make sure they choose the perfect location for them. We are passionate about Cyprus and this is one of our favourite parts of our job! Whether you decide on coastal or village life, we have a great choice of properties to show you.

The Buying Process Step by Step

1Define Your Budget

Consider purchase costs, legal fees, and taxes.

2Find a Trusted Agent

Blue Surf Property will guide you through the best listings based on your preferences. We are proud that 90% of our clients are repeat business and have bought and sold multiple properties with us over the years, so you can rest assured that you are in safe hands.

3View Properties

We arrange viewings on your preferred properties, providing detailed insights into each option. It’s very important to be informed about every aspect of the property, even the not so perfect parts. At Blue Surf we will make you are aware of any negative aspects that you would need to consider - if your neighbour has a big, noisy dog, or the property has issues with damp, we will make sure you know. It’s just how we are and we are not about to change!

4Make an Offer & Secure the Property

Once you choose your property, we help you negotiate the best price. The sales consultant will assist in the negotiation process until an offer is accepted or rejected. This helps to take the pressure off both the buyer and seller to make sure the process is as stress-free as possible. We will always offer unbiased advice, feedback and support in whatever we can to ensure that the offer you want is achieved. Once an offer is accepted a deposit of €5,000 must be placed to ensure the property is removed from the market. A reservation agreement will be drawn up to specify agreed terms between both parties.

5Exchange of contracts:

  1. For resale properties, the lawyers carry out searches and prepare the draft of the contract. The full terms of sale will be included in this legally binding Contract of Sale. The remaining balance is then paid on completion at the Land Registry office and the property is then signed over to the new owner. At this stage, all utility bills are changed in to buyer’s name and settled by the seller – this is done by us and the buyer.
  2. For off-plan properties a non-refundable deposit of €5,000 - €10,000 is required, followed by a deposit of 30%. Payments are then staged according to the development phase of the property.

It is important to note that if not paying cash, a mortgage offer must be accepted before contracts can be exchanged.

6Obtain Necessary Approvals

Non-EU buyers need Council of Ministers approval. The lawyer will assist with the application.

7Completion

Congratulations on the purchase of your property! A completion date will be set, and the seller’s lawyer will be required to provide a Tax Clearance certificate to show all taxes and outstanding bills have been paid. Both parties’ lawyers will then ensure the rest of the balance is paid and the Title Deeds or Contract of Sale will be transferred to the buyer’s name.

Fees

Refundable Holding depositCapped at 1 weeks rent
Security DepositCapped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000
RentThe agreed monthly rent
Changes to tenancyCapped at £50 inc VAT
Early termination chargeNot exceeding the landlord’s financial losses
Late payment of rentInterest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue
Replacement keysReasonable costs or give the tenant the option to purchase themselves
Utilities, council tax, communication services, TV Licence etcTenants own responsibility unless otherwise stated in contract
Client Money Protection Scheme Membership detailsThe law requires your membership details
Property Redress Scheme Membership detailsThe law requires your membership details