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Selling Property - advice please

Posted: 12 Oct 2013 15:17
by amoda23

I wish to sell an apartment in Nicosia. My mother passed away this summer and the title deeds are in my name. I am a British Citizen & resident.

Is there any advice on selling please? And have the bank restrictions been eased at all, so that the sale money can be transferred to a UK account?

Many thanks,

Re: Selling Property - advice please

Posted: 13 Oct 2013 13:14
by Nigel Howarth
Hi Amoda

At the present time there are 'Temporary Restrictive Measures' in place limiting the amount of money you can take out of Cyprus. These are gradually being relaxed and you need to keep an eye on the latest position at the Central Banks website at ... =1&lang=en

However, if you sell the property to a someone with a bank account outside Cyprus then it is possible to complete the transaction without any money entering the country. Also, money deposited from abroad into a Cyprus bank account can be taken abroad without restrictions.

As for advice on selling, you'll need to be patient as the market is at a virtual standstill. Make sure the property is properly presented - de-clutter, tidy, clean, complete any repairs/maintenance that need doing. Take some decent photos. There are several websites where you can advertise the property (not this one) - sites like Angloinfo Cyprus and cyprusexpat. If you don't have any success, place it with a local estate agent.

Where in Nicosia is the apartment - residential area, commercial area, near the university?


Re: Selling Property - advice please

Posted: 13 Oct 2013 13:25
by amoda23
Thanks Nigel .. the apartment is in Central Nicosia, in a nice residential area in Likavitos but also very close to the main road that goes towards Makarios Avenue, and all within easy walking distance of the city. I think it is also quite close to the University (a short driving distance) and close to a big park.