Cyprus-Forum.com

[dizey]

We are just starting the process of looking for a new build apartment in the Larnaca area with a view to moving over in a year or two. Coming over in July to look at some properties and see what we can get for our money (and also to check out the job situation).

Has anyone used these developers? Reliable? Good quality? Any feedback/comments welcome. Thanks.

- Quality Group
- G Hassapis

[mountainman]

Never heard of them

get a good lawyer and keep back as much money as possible until you are satisfied.

if you are unsure, i can recommend a thorough lawyer

[nhowarth]

Hi Dizey,

Firstly, be aware that many property developers do not hold licences to build property - they employ registered building contractors (and sometimes their friends) to build them. So one property built by a developer may look fine, while another could be absolute rubbish. Registered building contractors are graded according to skill & experience.

You will be surprised how many people you meet will offer to build or sell you a property. These ‘entrepreneurs’ can be anyone from your airport taxi driver to the barman at your hotel or the owner of the local taverna. Most of them own small plots of land that they’re only too willing to sell, complete with a house, to an unsuspecting expatriate. Unfortunately, many of them know as much about building a house as I know about brain surgery!

There are also many professional property developers. Some of these build a small number of high quality properties each year, while others build large residential and holiday complexes specifically designed for the overseas investor and expatriate market.

Due to the differing levels of skill, professionalism and integrity by those involved in property development, the quality of construction varies greatly. At one end of the scale you can buy high quality, high specification properties that have been built with meticulous care and attention to detail. While at the other end of the scale, you can buy poorly built properties that deteriorate rapidly costing you a fortune to repair and maintain.

If you’re buying a new property always inspect properties under construction and earlier properties they’ve built to assess the build quality for yourself.

Some advice about choosing your developer

Don’t assume that bigger is better; the size of a company is no guarantee that its properties are of an acceptable quality. You may find that quality of properties built by some of the developers that target the expatriate market to be of a lower standard than those that target a wider audience.

Always inspect properties under construction. Insist on viewing earlier properties they’ve built and speak with their owners about the quality of work and after-sales service. Also, don’t rule out a developer just because he hasn’t got flashy offices, glossy promotional material or staff who are fluent in English.

Instruct your lawyer to get a profile of the company confirming the company's existence and listing information such as its incorporation date, registered office, company number, status etc and ask him to get a credit report on the company.

Don’t expect the fixtures, fittings and finishes you see in show homes to be the same in the property you’re thinking of buying. It’s a bit like buying a new car; where the showroom model usually comes ‘fully loaded’, you’ll be lucky to get all four wheels on the standard model without paying a bit extra! Ask for a set of specifications and list of fixtures and fittings included in the advertised price, the size of the plot and the size of the property. Make sure you understand exactly what you’re getting for your money.

All buyers are strongly advised to seek independent legal advice.

Do not sign any papers or hand over any money until you have sought advice from an independent lawyer with whom you can communicate effectively.

Under no circumstances should you use a lawyer who has been introduced or recommended to you by a property developer. These lawyers occasionally represent the interests of the developer and the advice they provide to buyers may sometimes be incomplete or biased in favour of the developer.

Click on the 'WWW' button below this message for more information & advice.

Regards,