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Buying Land in Cyprus
by Monaliz Amirkhanpour
If you are looking to invest in custom property in Cyprus and build your own house, you will need to buy land first.
There are many plots of land available in Cyprus especially in the coastal areas and they range in price depending on their location, plot type, access to utilities, and of course, size.
There are essentially two types of plots that one can build on, Residential and Non-Residential.
A residential plot or “Οικόπεδο” (pronounced “Ikopedo” in Greek) is the suggested type of land to buy, as the construction factor (percentage of the plot that can be used for building) is very high and utilities such as electricity, telephone, and water are provided to the edge of the plot. Moreover, construction vehicles will be given permission to access the plot.
Buying a residential plot is the fastest, easiest and safest way to get started on building your Cyprus property. Obviously, residential plots are considerably more expensive because of these advantages. If you are reviewing land for purchase, residential plots are usually easy to identify because the word “Οικοπεδο” appears clearly on the Title Deed.
There is another type of plot ,which is not strictly intended for building and is not classified as in the residential zones. This does not necessarily mean that the plot will be away from civilization and it is possible to find excellent locations. The main advantage to buying non-residential land is the price, as it will be considerably cheaper than residential land.
The construction factor will be considerably lower (10% and below), meaning that you will have to buy a bigger plot in order to build a decent-sized house on and this option is usually pursued by people who wish to have a large open area around their house for a garden, swimming pool, or tennis court.
Purchasing non-residential land may be risky because it is possible to take a lot of time and effort to get building permission for your property. Moreover, it may also be costly and time-consuming to get electricity, telephone, and water pipe connection, sometimes several years. There is also a possibility of giving up part of your land to road construction projects as well as other amenity provisions in the future. Non-residential plots can be identified when reviewing a Title Deed as the word “Οικόπεδο” does not appear on it
