Buying Custom Properties in Cyprus

Buying a new custom property

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Buying custom properties in Cyprus

An individual homeMy wife & I have a custom property. We bought our land in 1992, commissioned an architect and watched over our new home being built when we moved to Cyprus.

We are not alone - a growing number of home buyers are forsaking the Cyprus property developers and buying custom properties designed & built to their specific requirements.

Unlike in the UK, where buying a custom home can be prohibitively expensive, the cost of doing in Cyprus is very reasonable; you will find it's cheaper than buying equivalent properties from a developer and the standard of construction could be significantly better!

Advantages of buying custom properties

  1. Your new home will be unique and match your specific requirements.

  2. You will have control of the design process.

  3. You will be able to choose your contractor through a tendering process and get a competitive price for the construction of your new property.

  4. If you choose your contractor on the quality of his work, then the build quality of your property will be significantly better than those built by the mass-market property development companies.

  5. You will avoid the annoying and costly ‘extras’ often added on by some property developers.

  6. You will be able to select and buy your finishes, fixtures and fittings from any supplier of your choosing (and pocket any discount you negotiate).

  7. You will have a much greater degree of control over costs.

  8. You will pay a low Property Transfer Fee as it is based on the price you pay for the land (rather than the price of the land and the dwelling).

Disadvantages of buying a custom property

  1. You will need to find and buy a suitable plot of land (see 'How to Buy Land' pages).

  2. You will need to commission an architect and other professionals to design the property & to oversee and manage its construction.

  3. You will need to invest a significant amount of your thought, effort and time into the project.

  4. It is a long project; don’t expect your new home to be ready in less than two years.

Advice for custom property buyers

  1. Read my 'Legal Advice & Fees' section and my 'Property Conveyancing' pages on home buying.

  2. Ensure that your architect is independent of your contractor. One of his responsibilities is to represent your best interests throughout the whole process of planning and building your custom property in Cyprus. If he has family or business ties with the contractor, he will have a conflict of interests.

  3. Subcontract the supply and installation of the air conditioning, central heating and solar heating systems to a mechanical engineering company. The design and installation of these systems is a specialist job and should not be left to the building contractor’s plumber.

  4. Although your contractor should fit them, go out and buy your floor finishes, fixtures and fittings for your new home from independent suppliers. By doing this:

  • You'll be able to pocket any discount you manage to negotiate.

  • You'll save yourself having to pay VAT twice - remember that your contractor will pay VAT on his supplies and will add VAT again when he bills you.

  • The range and variety of floor finishes, fixtures & fittings available in Cyprus is virtually endless! If you can't see what you want in the shop, suppliers will ship items in for you from overseas. (We had our granite flooring imported from Kashmir - the total cost was less than the price of a good quality fitted carpet in the UK).

  1. Stay in Cyprus while your custom properties being built to follow progress, liaise with your architect, shop for your fixtures and fittings, etc.