Apartment real estate solutions Cyprus today: The CDA Group has been existing since 2009 and is one of the major players in the Cyprus real estate market. In 2010, we established Cyprus Developers Alliance, an entity that promotes and sells properties of the developers who are members of the Alliance. There are currently 43 developers within the Alliance and our portfolio comprises more than 9,000 properties from all the regions of Cyprus and market segments. After the sales volumes of our Alliance amounted to significant sums, we, having reliable and comprehensive information about the structure of supply and demand in the real estate market, the preferences of the buyers, as well as having amassed a vast experience, launched our own development projects. See extra information on apartments for sale in Cyprus.
There is a search system available on every page of the web site. You can select the options that interest you (accommodation type, region, number of bedrooms, price range) and click on the option “Find”. You will be transferred to the general list of properties with brief descriptions of projects. Further, by clicking on the project number, you can see full information about it on a separate page. We will guide you through the purchase process if you answer a number of questions: What is the purpose of purchasing a property – permanent residence in Cyprus, holidaymaking or investment? What is the approximate budget allocated for your purchase?
Here is a typical example of how the Government of Cyprus has solved the issue of properties of Turkish Cypriots who used to reside in the Southern part of the island and abandoned their houses leaving for the Northern unrecognized part of the island after the conflict of 1974. Such properties are simply left as they were while the rights of their owners are preserved inviolable until now. We are proud of the way we have solved this complex issue.
Here is an example. Suppose a developer has built an apartment house having obtained a credit from a bank to the amount of euro 500 thousand. A customer purchases one of the apartments amounting to euro 200 thousand from the developer. The bank calculates whatever share of the developer’s debt falls on this apartment as per the approved formula. Suppose this value comprises euro 40 thousand. The customer pays the apartment value in the following way – he/she transfers 160 thousand to the developer and 40 thousand to the bank. In response the bank prepares a document (that is called a waiver – assignment of claim) that implies that the bank does not have any claims related to this apartment. This document shall be issued prior or simultaneously with contract depositing.
In case you have purchased an apartment or a townhouse you will most likely not have to monitor the condition of your property when you are away from Cyprus. In the event that you have purchased a house and do not live in it on a permanent basis you will have to see to keeping your garden and probably fruit trees as well as swimming pool in an appropriate order. The Managing company of the Alliance at your request is ready to provide experienced and professional experts to you who will take care of your garden and swimming pool. We are also willing to provide you all the necessary assistance in case you wish afterwards to rent out or sell the property you have purchased.
The immigration legislation is currently extremely liberal. Provided that you are purchasing property exceeding €300,000 you can obtain a permanent lifelong residence permit in the EU. Term of obtaining residence permit – 2 months maximum. Significant reserves of natural gas have been found and confirmed in the Mediterranean offshore in economic area of the Republic of Cyprus. Its production on an industrial scale is planned for 2022-2023. The revenue of the production considering the small size of Cyprus will make it a truly prosperous country and will lead to an increase in property prices. Find extra details on cyprus-alliance.com.