Demari Developers | Property

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CHOOSE YOUR PROPERTY

 

Choosing the right property is very important. To help you achieve this our sales staff are always at your disposal to answer any questions relating to many considerations such as:

  • Location

  • Type of property B

  • Budget

 

 

 

PAYMENTS

 

Once you have decided on the property a small deposit will be required in order to reserve it.

The remainder of the purchase price is paid in four stage payments: 

  1. Thirty days after signing the contract of sale, an amount equal to 30% of the purchase price less the reservation deposit that has already been paid.

  2. When the frame of the property is completed or on a set date to be agreed.

  3. When the walls and plastering are completed in the property or on a set date to be agreed.

  4. The final payment is due on completion of the property.

 


 

 

SOLICITORS


We are able to provide you with an introduction to various independent solicitors so that you can choose one to act on your behalf. There is no need to engage the services of a UK solicitor as they would only liaise with a Cypriot solicitor.

Permission to purchase a property is also needed for non-Cypriots this can be obtained from the Council of Ministers simply by written application. This is merely a formality and is dealt with by your solicitor.

 

 

STAMP DUTY

 

Unless stated otherwise in the contract of sale, stamp duty fees must be paid. Within the 30 days of signing the contract of sale the stamp duty has to be paid by the purchaser. The payable rate is € 2.56 per 170,860. This is normally paid by the solicitor on behalf of the buyer and added to the final fee.
When the title deeds are issued, a fee is charged to the new owner. The fees are as follows:


  • Up to €85,430 3%  
  • From €85,430 to €170,860 5%
  • And from €170, 860 and over 8% 

 

 

 TITLE DEEDS

 

Usually takes 2-4 years, however legally you are the owner of your property once you have paid all due payments and have received delivery of your property as stated on the contract of sale, a resale of your property may also be achieved as you don’t need to have your title deeds to resell, however changes may not be made to the property.