Property - Real Estate
Property - Real Estate
Our firm’s Property and Real Estate Department takes pride in its responsiveness, efficiency, reliability and diligence in servicing our clients in a cost-effective, time-efficient and highly qualitative manner.
As a general observation, Cyprus Immovable Property law constitutes a rather unique area of law. Indeed, most areas of law in the Republic of Cyprus are largely premised on English common law and equitable principles while some others contain elements from Greek or continental European law; nevertheless, this is not the case when it comes to Cyprus Immovable Property law, whose origins are instead traced in Ottoman law. The main legislative instrument governing the disposition of immovable property in the Republic of Cyprus is the Immovable Property Law (Tenure, Registration and Valuation), Cap. 224. In recent years the real estate market in the Republic of Cyprus has experienced a resurgence, not least owing to an increased demand by foreign investors.
With relation to the Property – Real Estate sectors, our Law Firm provides the following services, amongst others:
- assisting, either directly or through associates, the viewing, examination and finding of properties on behalf of our clients;
- providing due diligence on properties, including to check if any mortgages, rights, charges, covenants or other encumbrances are registered against the property;
- arranging the appointment of real estate agents, valuers, engineers or architects on behalf of the clients;
- negotiating, drafting and review of sale and purchase agreements of any kind of properties in Cyprus;
- negotiating, drafting and review of construction agreements of any kind of properties in Cyprus;
- drafting of tenancy, lease, license or any other type of agreements relating to the right of possession and/or use of properties in Cyprus;
- arranging calculation and payment (on behalf of the Clients) of stamp duty;
- deposit of the sale and purchase agreements to the Land Registry Office for specific performance purposes;
- arranging the issuance of the necessary permission that a third country national must have to obtain from the Council of Ministers pursuant to the relevant Law, before the transfer of the property is processed;
- representing the Clients before any District Lands Office for securing the transfer of the property unto their name and we undertake all the necessary procedures;
- arranging and undertaking the delivery of properties on behalf of the Clients.
OUR EXPERTS
LATEST INSIGHTS
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