Buying land can be a challenging process, as it needs a lot of search to locate a site which is suitable according to your needs and also patience to deal with the paperwork and legalities.
However if you decide to buy land in Cyprus make sure you realise the difference between a building plot and a piece of land. A building plot is connected to utilities, has access to roads and pavements. In case you buy a piece of land instead of a building plot you will have to apply and pay for the installment and connection to the utilities, the roads and the pavements. Further more you should be informed that the regional department of planning will have to expropriate part of your land to build roads, pavements and parks.
The whole process can be costly and time-consuming but as a matter of fact many people choose to go down this way as a piece of land which does not have the above features of a building plot has a lot chances to be bought at lower prices. Also if you wish to buy in a tranquil area which is surrounded by trees, located away from the fuss and bustle of the city you can hardly find a plot and will probably have to look for a piece of land. Not to mention that many developers are all the time after building plots in prime locations and can snap up any site which becomes available for sale.
It is estimated that a growing percentage of land that is becoming available in the current market is brownfield - land that is or was occupied by a permanent structure that has become unoccupied, underused or abandoned, and has redevelopment potential. Another big portion is greenfield land, which means undeveloped land, such as parks and recreational grounds. This available land, owned by a range of individuals, companies and land speculators, can prove a valuable investment for those who want to build a new home.
Most of the people looking to find land turn to Estate Agents, as through their hands pass several types of land and plots. Even if they do not have anything that suits your needs, it can be worth making the inquiry and leaving your contact details. It is expected that Estate Agents have great contacts with property developers, investment clients and other people in the property market. The possibilities that the Agent’s contacts could lead to a potential land sale are great.Another promising option is to find a Land Agent, who deals solely with building plots and land, with or without planning permission. Land agents operate in the same manner as estate agents, but the agents who only trade in land. However as specialists in their field, may offer better opportunities to the potential land buyer than the average estate agency.
In Cyprus it is common that land is in private hands. A piece of land or a plot can be an asset belonging to a Family and therefore owned by several members of the family. This land traditionally stays in the family and goes down to the next generations, but in the case a family decides to sell the family land they usually need a quick sale. Estate agents usually take on the rights to sell this kind of land which can lead to a really good deal with the buyer.
Several fully registered and reputable Estate Agents work in Cyprus and can help you locate the land or plot you have always wanted, avoiding any risky investments. Your Agent will help you make a thorough research before deciding to proceed and can also advice you on the safest procedure to finally purchase the Cyprus property of your choice.
Buying land via Estate Agency is probably the easiest and safest way you can locate your own promise land!
Copyright © CyprusNet
Articles |
Buy Land Via Estate Agency |
|