planning to build block of flats on my land in cyprus

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nick
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Joined: 30 Jun 2011 15:28

planning to build block of flats on my land in cyprus

#1 Post by nick » 30 Aug 2011 17:41

Hey all, was wondering if there would be annyone out here who will beable to advise me on a project which iv been planning now for a few months!
i own a nice plot of land in the village of lympia nicosia, its a well known village where they have the old church of the village situated on the top of a mountain, which is now currently occupied by turkish troops and they have a =base up there..
my land which i found out is situated at the foot of this mountain, so the church would be a great land mark as a rear view a long with the mountains... from the plot downwards the hill slopes and u get a great view of the village... anyways, heres the thing, i found out the land is now become made into a propper plot, with water and electric, iv been thinking about building 10 flats with the oppertunity to have the roof as a penthouse to keep for myself!!!
iv mnade steps top go and pin point this land , so i know where it is, i know it can be built on, i would really like to know what steps i can now rtake to starting the project and selling the flats offplan as i do not have the money to build them out right!!!
iv saved some money so i was hoping weather id have enough to pay an archetect to draw me up plans , and start on the foundations! would like to know how much that would cost??
then id market the flats for off plan sale and plan to collect deposits for to build the first stages , then the people can pay me every 3 months or something like that untill the build will be finally complete and they have paid the whole amount for there flat!!
so basically the build would really rely on people paying the first initial deposit which should cover the quite alot of the build at the beggining! was hoping to charge maybe 15.000 - 20.000 euros as deposits and probabbly the same untill they reach the required amount i want for each flat!
would just like to know everything i would need for this project as i havent done anything like this before!!
any information would be great!
also would just love to know what steps i should take now, as im eager to crack on with it!!!!
hope this all makes sense!
thanks in advance!!



Pantheman
Posts: 470
Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: planning to build block of flats on my land in cyprus

#2 Post by Pantheman » 31 Aug 2011 15:02

Nick, with all due respect, you should give up this idea.

It will end in tears and heart break not only for you, but for anyone who may buy.

You clearly have no idea about developing, laws, selling or finanace.

If your land is big enough and it is in a build zone with large enough build density, ask a local developer for antiparoxi. He can give you 2 apts and keep the rest, as long as the area is disirable and you can sell there.

Alternatively, just save up, make a loan and build your own house.

Good luck.

Panayiotis


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Nigel Howarth
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Re: planning to build block of flats on my land in cyprus

#3 Post by Nigel Howarth » 19 Jul 2013 19:56

Dear Nick,

I go along with Pan on this - it is not something you should proceed with.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Pantheman
Posts: 470
Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: planning to build block of flats on my land in cyprus

#4 Post by Pantheman » 24 Jul 2013 16:28

Nigel Howarth wrote:Dear Nick,

I go along with Pan on this - it is not something you should proceed with.

Regards,
Thanks Nigel, but your answer came 2 years later :lol: :lol: :lol:


For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
Registered and Licensed Real Estate Company Co. Reg. No. 795, Lic. No. 250/E
http://www.fsbproperties.com

Nigel Howarth
Site Admin
Posts: 2173
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
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Re: planning to build block of flats on my land in cyprus

#5 Post by Nigel Howarth » 24 Jul 2013 19:16

Pantheman wrote:Thanks Nigel, but your answer came 2 years later :lol: :lol: :lol:
I'm slowing down in my old age :-)

Cheers,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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