Land selection in Cyprus

Land selection

Land availability
Building locations available are basically of 2 types :
1 - Building plots as result of the division of a larger piece of land.
    The plots have all the services installed and provided. Plot areas are from 520m2 to 1000m2 ,
     depending on the building rate applicable in the particular area. Prices, within the Pafos area, vary
     from Cyprus pounds 25000.00 upwards, depending on the view, location, size, neighbourhood etc.
2 - Independent pieces of land
     As per the original status which develops according to the ownership history. In Cyprus, by tradition,
     the land is usually subdivided for being distributed amongst family members, traditionally the
     daughters.
     Pieces of land around the villages are of small size and suitable for housing. Prices vary, depending
     on the location, view and development potentialities. Usually the best locations intend to be
     subdivided for speculation. Privacy and character are also better than in building plots, making the
     price higher as well.

Benacon assistance
Benacon owns a few sites available for building. Most of the time, the choice is widened for the clients, by extending their search on plots available from other individuals.
For assisting in this purpose, Benacon has an open enquiry to other estates agents or individuals concerning land or building plots for sale. Searches can also be carried out on behalf of the client for a specific spot or type of land. We then examine all the possible sites available in the selected areas.
We can also proceed in the subdivision of a larger piece, in combining several similar enquiries together.

Preliminary project lay out on land & survey plan

Benacon charges are according to the service rendered, usually on a commission basis, as per the estate's agents association advised rates. Benacon's assistance includes a basic report on the town planning situation and availability of services.
Benacon can also carry out further specific studies, such as the cost of the provision of services (if not available), site development potentialities, project design principles, ground survey (these being very important factors for the overall project cost).
In any case, Benacon architects can give their advise on the land development potentialities according to the client programme, by providing the basic project outline .

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Project completed

Purchase procedure
The purchase procedure is fairly straight forward, and Cypriot law provides safeguards securing the purchaser's interests. Contracts are usually drafted by the purchaser's legal advisor and registered in the Land & Surveys department, in the property file, offering complete protection against the filing of another transaction.
All Cyprus' immovable properties are precisely described and recorded on the Land & Surveys maps with a maximum of accuracy. By tradition, the Land & Surveys Department has always been very precise and well organised.
Recently, it has been developing its surveying and measuring technology, and has progressed lately with the installation of the latest global positioning satellite measuring technology. Map design and ownership filing is progressively being computerised. This system started 5 years ago, and it is forseen that, within the next 5 years, all of Cyprus' immovable properties will be recorded under this new drafting and filing system.
Property transfer fees payable to the Land & Surveys department are calculated according to the land value, on a scale basis from 5% to 8.5%.