Cyprus-Forum.com

[GreekIslandGirl]

May I also add that if you own a villa and the gated place has say 20 villas all exactly the same size and value, then your title deed states specifically that you also own 1/20th of the common lands or facilities .. So you also own 1/20 of the swimming pool, 1/20th of the gardens, 1/20th of the sewage treatment plan if it exists, 1/20 of the walkways etc etc. Simple isn't it?

Sharing costs is the main negative point for these projects. Also, the constant fees even if you don't use it much.

BTW - do you (or B25) know the lower age limit for owning a property in Cyprus?
Also, is it best to have two names on the property or can you just put one owner down?

[B25]

May I also add that if you own a villa and the gated place has say 20 villas all exactly the same size and value, then your title deed states specifically that you also own 1/20th of the common lands or facilities .. So you also own 1/20 of the swimming pool, 1/20th of the gardens, 1/20th of the sewage treatment plan if it exists, 1/20 of the walkways etc etc. Simple isn't it?

Sharing costs is the main negative point for these projects. Also, the constant fees even if you don't use it much.

BTW - do you (or B25) know the lower age limit for owning a property in Cyprus?
Also, is it best to have two names on the property or can you just put one owner down?

I don't think ghere is a lower limit but at under 18 they still need oarental signatures.

If the house price is greater than 85,430 euros then joint nanes reduces the transfer fees considerably.
Although there is a current goverrnment incentive of 50% off.
Other implications of adding a minor especially it its a holiday home, they may lise out on the 5% vat in case of any future build or first time buy from a developer.

[GreekIslandGirl]

May I also add that if you own a villa and the gated place has say 20 villas all exactly the same size and value, then your title deed states specifically that you also own 1/20th of the common lands or facilities .. So you also own 1/20 of the swimming pool, 1/20th of the gardens, 1/20th of the sewage treatment plan if it exists, 1/20 of the walkways etc etc. Simple isn't it?

Sharing costs is the main negative point for these projects. Also, the constant fees even if you don't use it much.

BTW - do you (or B25) know the lower age limit for owning a property in Cyprus?
Also, is it best to have two names on the property or can you just put one owner down?

I don't think ghere is a lower limit but at under 18 they still need oarental signatures.

If the house price is greater than 85,430 euros then joint nanes reduces the transfer fees considerably.
Although there is a current goverrnment incentive of 50% off.
Other implications of adding a minor especially it its a holiday home, they may lise out on the 5% vat in case of any future build or first time buy from a developer.

Many, many thanks again. That's been extremely helpful and I hope it helps restore trust in the Cyprus property market. Now, the fun (and arguments) of deciding ...

xx

[Alexa1994]

Makeup, dresses and dining out respectively!

[kurupetos]

Makeup, dresses and dining out respectively!

Same for GR!