This article is designed to be a framework for anyone looking to buy in Cyprus in the next 12 months. If your plans are a little further in the future, let this article inform you about the process and what to do when.
Find homes in Cyprus via our property portal.
What you can do straight away…
There are a few things that you might already have an idea of, but that you need to decide before you get the ball rolling with your overseas property purchase. You can find all this information and a planning guide in our Buying in Cyprus guide. Download your copy today.
1. Decide why you want to move – are you retiring permanently, buying a holiday home or emigrating with family?
2. Settle on a location – odds are you’ll have a place in mind, otherwise you wouldn’t be considering Cyprus, but settle on a few areas or neighbourhoods that you’d like to live in, this will help you narrow your search.
3. Gauge an idea of the property type you’d like. Do you need a bungalow/ground-floor property with accessible requirements? Is a garden and a pool essential?
Then, you can put together your support team.
Your “golden three” contacts for a safe and secure property purchase in Cyprus are:
Your Overseas Home run webinars throughout the year, which serve as a great place to put your essential connections in place for a 2024 property purchase. It’s entirely virtual and you will have the opportunity to speak with experts on the ground in Cyprus in real time via phone, video call or message.
Five months to go
1. Begin your property search either using a property portal or with your estate agent
2. Open a Cypriot bank account. Learn how here.
3. If you’re unsure on your budget, we recommend you speak to a lawyer or financial advisor. Click here to be put in touch with a reputable expert.
Plan a viewing trip to find your dream home in Cyprus
Four months to go
Perhaps the most exciting part, plan a viewing trip with your estate agent to discuss your options and view properties.
If you have secured a Cypriot lawyer, it’s a good idea to meet with them while out there to discuss your plans. They’ll be able to advise you on the legal process regarding the purchase of a property and your deposit.
Find a currency specialist, such as Smart Currency Exchange to help you make an international transfer when ready
Three months to go
By March, you’re likely to have a much better idea of what services you’ll need to move to Cyprus. Depending on your nationality, work status and logistics of your move, now would be a good time to get in touch with…
- Removals companies
- Visa and residency experts
- Tax specialists (IFA)
In the meantime, you can continue with viewing trips if you’re yet to find what you’re looking for. Don’t be obliged to buy the first home you see – it can take time to find the best one for your needs.
Then, when you find the perfect place…
1. Put in an offer
2. Speak to your currency specialist about your pending payment and discuss your currency requirements
3. If needed, get your home surveyed
Two months to go
Hopefully by April you’ll have put an offer in on a home and once it’s been accepted by the seller you can:
1. Sign a reservation contract
2. Sign a deposit contract
3. Make your final payment. There is usually up a two month wait for the home to be available, during this time, you can set up any utilities you will need.
4. Sign the final contract.
Picking up the keys: the final step
Final month
The majority of the work is done, all you need to do is wait for the call from your lawyer when the property is available, then your new life in Cyprus begins!
1. Get the keys
2. Move in!
For guidance during any stage of the buying process, speak to one of our property consultants. They have a range of contacts in the UK and in Cyprus who they can put you in touch with to further your plans to buy a home in Cyprus.
