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Platomare Apartments Cyprus

As a general rule, electricity can be brought to any place in Cyprus provided one is prepared to pay for it. Be careful, however, with the general belief that if there is an electricity line close to the property the cost of providing electricity will not be much. This is not true at all and it is best to examine the approximate electricity provision cost with the EAC District Officer.Telephone lines are a problem for out of built-up areas. If one is needed at your "spot", examine this possibility with the CYTA District Officer.

Prices are usually quoted as pounds per sq. metre. It is important, however, to ascertain the square metres of which area you are paying for. Certain developers include part of the common areas (staircases, lifts etc) while others include the verandahs and so on. If therefore, you are shopping around for the right price, make sure that you are comparing the same area.

Solar heating is an economic alternative and its adoption is relatively inexpensive, having a payback period of approximately 5 years.If you will have a garden, it is advisable to drill a borehole for watering as the water charges rise more than proportionately with consumption. This will cost around C1,200 for the borehole and the pump, although it will depend on the depth of the borehole. The drilling of a borehole requires a Government permit first.

Upon signing a contract, the Purchaser is liable to pay stamp duty which amounts to 0.115% of a purchase price up to CY 100.000, and then at a rate of 0.2% on any purchase price in excess of CY100.000.Land registry fees are payable when the owner ship of the property is transferred. This is on a sliding scale, ranging from 5% to 8% depending upon the value of the property.

Upon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval.When this is issued, it will have to be deposited at the District Lands' Office so that the registration of the building on the title deed of the land is effected.

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