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Where to Look for Property in Cyprus
by Monaliz Amirkhanpour
There are several ways to find property in Cyprus and the method you choose will directly affect the amount of time that you plan to devote for your property search.
Developers
If you are searching for off-plan (unfinished) property in Cyprus, then the Cyprus property developers that target overseas buyers are very easy to find and negotiate with. They have placed their advertisements in the airports, along the highways, and on TV/radio channels and have comprehensive websites. Their head offices are usually in the tourist areas of the island such as the coastal cities of Limassol, Larnaca, Paphos and Famagusta. You can also visit their websites and get the latest and updated information on their property offers.
Real Estate Agents
If, however, you are looking for a re-sale (second-hand) property or a plot of land, then Cyprus real estate agents can provide you with detailed information on the properties they have on their lists. It is strongly advised that you contact licensed real estate agents who are registered members of the Cyprus Real Estate Agents Association (CREAA) and are the only qualified entities to advise on property investment.
Property Advertisers
On the other hand, there are un-registered real estate agents that cannot call themselves “Real Estate Agents” legally. Therefore, they advertise themselves as “Property Marketing Companies”, or “Property Advertisers”. They advertise the properties for sale, but are not involved in the buying and selling procedures. In simpler terms, they just introduce the seller to the buyer and they get an advertising or introduction fee in return. This is fine, but be aware that these entities are not authorized to provide any property advice.
Own Research
You can also look for properties for sale in the English newspapers of Cyprus such as the Cyprus Mail and Cyprus Weekly. It is essential to mention that in Cyprus, locals do not usually make use of real estate agencies so often in order to advertise their properties. They mainly sell their properties through word-of-mouth, making the direct approach, even though the most effort and time-consuming, the best way of finding most properties that are for sale in a particular area. Direct purchase of a property from its owner also saves you the extra commission costs incurred by the real estate agents
