Building a Custom Home in Tala

Building a custom home in Cyprus
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celadon
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Building a Custom Home in Tala

Post by celadon » 16 Oct 2016 18:45

Having purchased a 500 sq metre plot of land several years ago, i am now in a position to start the process of building a custom made House/Villa. I would appreciate if any advice on the following:

1) Recommended developers who would and have built single custom made homes in the Tala area
2) Recommendation on the best way to finance the build , i have purchased the land out right but need to mortgage the build. Is it best to mortgage in the UK or Cyprus?

I have already an independent solicitor but any thoughts / ideas would be appreciated

Colin



Nigel Howarth
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Re: Building a Custom Home in Tala

Post by Nigel Howarth » 16 Oct 2016 19:46

Hi Colin

You'll need a building contractor (not a developer) - and I suggest you issue invitations to tender once you've finalised the design with your architect and have the Bills of Quantities.

To avoid currency fluctuations you should borrow in the currency you earn (presumably sterling).

Regards,


Nigel Howarth
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Pantheman
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Re: Building a Custom Home in Tala

Post by Pantheman » 17 Oct 2016 10:09

A British bank will not lend you money to build in Cyprus as they cannot secure the property against it. If you have property for which you could get equity release then thats a way to go.

In Cyprus, lending criteria has become more strict and it would depend upon your age, nationality and income.

They would then secure the finished product against your loan.

HTH


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celadon
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Re: Building a Custom Home in Tala

Post by celadon » 19 Feb 2019 02:13

Thank you both - 18 month on and I have arranged full finance in UK so ready to go.

I would appreciate 2/3 architects you could recommend meeting - I am coming to pathos in May and planning my meetings, Nigel you did say you had an architect - would you mind sharing contact although being in pathos may be too far for them?

Any thoughts on Timber frame builds and which constructors to try as timber is big elsewhere but don’t see much in Cyprus

Keen to hear of any other constructors away from timber who people would recommend

All thoughts welcome as recommendations is always a great starting point

Crazy to think I signed up to your forum in 2008 - where did those 10 years go.

Cheers

Colin & Pam



Nigel Howarth
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Re: Building a Custom Home in Tala

Post by Nigel Howarth » 19 Feb 2019 08:51

Hi Colin & Pam

Finance all set up and ready to go - great.

My architect is in Limassol but I'm not sure if he'd take on a project in Paphos. He did an excellent job for us and we've been in our house for 15 years with no problems.

There is an architect I know in Paphos. He gave a presentation at the Paphos UKCA some years ago on the town planning amnesty - and he helped some friends of mine in Limassol get their Title Deeds.

And you could contact ETEK in Nicosia - +357 22877644 who will be able to send you a list of registered architects in Paphos.

I'll send you a PM with the contact details of my architect in Limassol and the architect I know in Nicosia.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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