Property-seekers in Cyprus 'must ensure they get title deeds'

Friday January 23rd , 2009

People seeking property in the popular Mediterranean island of Cyprus must always use an independent lawyer and ensure they obtain title deeds, it has been claimed.

Business Life magazine reports that buyers must tread with caution when purchasing in the country and be sceptical of claims from developers.

Nigel Howarth, a resident and owner of advice website cyprus-property-buyers.com, told the magazine that as the vast majority of properties are purchased off-plan from developers, buyers may wait years to receive their title deeds.

The transfer of deeds is also often stalled by developers failing to adhere to original plans or not obtaining building permits.

Mr Howarth said: "If you want to sell your property and you don't have the deeds, you have to get approval from the developer, and they can charge you whatever they like."

He added that people can contact the British High Commission for a list of independent lawyers in Cyprus.

Meanwhile, property prices on the island are set to "rocket" due to plans to build a Disney resort near Larnaca, it has been claimed.

Derek Hatton, director of Morpheus Investments, said the plans were "amazing news" for the region and for the value of thousands of British-owned properties on the island.
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