Property investment agency Limassol today: Thousands of properties – Today in our portfolio we have 9,000 properties. We offer a wide variety of projects – already built or under construction, plots of land with or without a construction contract, investment projects. We are one of the major players in the construction industry in Cyprus. The Alliance’s properties are located all over the island – in coastal cities (Limassol, Paphos, Larnaca) and their suburbs, in popular resorts (Protaras, Ayia Napa, Polis, Pissouri), in the center of the island (Nicosia). Our developments embrace the entire price range of the real estate market, from low-cost single-bedroom apartments to luxury multi-million apartments and villas. See extra info on villas for sale in Cyprus.
On your arrival you will meet one of directors or a manager of the Alliance. In course of communication your requirements will become more specific and will be more thoroughly discussed and opinions will be exchanged. Then the sales managers will show you those properties that have been discussed at previous stages. As a result of site visits you will meet our directors in order to summarize the impressions of the visits and outline a plan of further activities. Surely, sometimes our clients happen to find a house or an apartment they have long dreamed of on the pages of our web site. Then it would come to nothing more than viewing that property. Anyway once you finally fix upon this or that property(ies) and say: “This is it! I am buying this!” we will proceed to transaction execution.
Types of Immovable Property Ownership – Sequence of operations in the course of effecting a sales transaction is described on page “Buying property”. It shows that there are several immovable property ownership statuses in Cyprus. Here is more detailed description. There are only three statuses of the kind. Immovable Property Owner – Once a contract of sale for a property is signed and at least 30% of its amount paid, the contract is deposited at a public agency – Land District Office. As a result you become property Owner.
The swiftness of documents circulation depends on a developer as well. The point is that while an interim answer from one of state departments is being made ready the developer can and shall prepare documents for submission to another department. Competent and responsible work of developers with governmental authorities in this matter is of great consequence. Apprehensions that the rights of property owners for which Title Deed is still pending are not properly protected in case of force majeure were expressed. In response to critical comments Cyprus government has made amendments to the legislation owing to which the rights of diligent property purchasers without a Title have become securely protected.
Cyprus banks offer quite loyal terms for obtaining a mortgage to property purchasers provided certain conditions are met. In recent years one of such conditions is that a borrower should have income in EUR, USD or in any other hard currency. The mortgage rate is usually 3.5%-4% per annum. The collateral to obtain mortgage for property acquisition in Cyprus is the very property to be purchased. To obtain mortgage you are definitely required to submit evidence of your ability to repay it to the banks.
Business. Many European, Russian, Indian and other companies have their head offices moved to Cyprus or open their representations there. This is connected with unique atmosphere created there for business. This is the lowest level of taxes in the EU and minimum of bureaucracy. Probably the most important thing is that foreigners whatever nationality they are and whether purchasing holiday houses or permanently residing on the island feel at home in Cyprus. Absolutely everyone feels good and comfortable there. Most likely for all that Cyprus phenomenon mostly consists in that very amazing atmosphere. Not accidental, that foreigners now account for more than 1 in 5 of the population. This is the second rate in Europe. Read even more details at cyprus-alliance.com.