When buying a plot in Cyprus, you need to take into account its purpose and the possibility of placing your dream house within the permitted layout.
In addition, there are restrictions for foreign buyers: no more than 4 thousand m2 of space can be issued for 1 person. If you still need more space, the property is bought for several family members, or issued through a legal entity.
In Cyprus, land for residential construction is called plot ofland or simply plot. As a rule, the minimum allowable building area is 10%. There are also restrictions on the number of floors and the maximum height of residential structures. All this is described in detail in the Title and architectural plan of the site. Any additional ideas and unexpected decisions of the owner will have to be coordinated with the relevant authorities, which will take at least two months, or even years.
The price depends on the location and destination. It should be borne in mind that land on a tiny island is a valuable resource. At the same time, it is slowly but steadily growing in price, regardless of the fluctuations of the real estate market.
20 minutes from the center of Limassol, in the village of Pissouri, a plot of 16,816 m2 for the construction of a two-storey house 1300 m from the sea costs 632 thousand euros. The land is adjacent to a registered public road and 800 m from the Limassol-Paphos highway.
A plot with a sea view, located in Limassol near the village of Germasoia and an area of 620 m2, with a permit for the construction of a two-storey house costs 341 thousand euros.
In the central district of Limassol Neapolis, a plot of 581 m2 with a permit for the construction of a 4-storey building costs 2 million 100 thousand euros.
In the vicinity of Larnaca, there are many offers of plots in a quiet and modern Pervolia, promising Dhekelia and the village of Oroklini, close to the center of Larnaca. The land next to Cape Kitty in a luxurious 557 m2 Pervolia costs 89 thousand euros. This option is just 300 m from the sea is perfect for the construction of a dream house!
In the elite residential area of Krasos, Aradippou, a 5-minute drive from the center of Larnaca at a price of 115 thousand euros, a plot of 438 m2 is for sale for the construction of a two-storey house. All communications are included: electricity, water and Internet.
Pitfalls when buying a plot of land
Let’s take a closer look at what else you should pay attention to when buying land in Cyprus. In addition to the purpose of the plot, the beautiful location and the view of the Mediterranean Sea, the land is appreciated here for other qualities.
Among them:
- The presence of reservoirs near the site may restrict construction due to environmental regulations.
- The location of the plots on steep hills and slopes can affect the price and, of course, the shape of the future house.
- Aspects of zoning: building density (usually indicated in %), permitted number of floors, total height of the structure, and more.
- Availability of communications on the site. Even if you buy land marked “For residential construction”, be sure to specify the possibility of conducting water and electricity, if they are not yet available.
- Distance from roads and main highways. The easier it is to get to the site, the more convenient it is for cars and special equipment to drive up in the future.
- The presence of an official road at the site. Without it, they will not give permits.