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February' 2017 | Archive | Blog

Increase of 43% for Cypriot Property Transactions in 2016

2017-02-06

Foreigners, both natural persons and legal entities, can purchase properties in Cyprus. The procedure is concluded through a sale/purchase contract, which should contain a set of compulsory provisions related to the object of the purchase, its price, the conditions in which the property is sold, the rights and obligations of the parties and other specific aspects. Related to this subject, we mention that the Cypriot property transactions increased in 2016 by 43%, which represents the highest increase in the field since 2010. When concluding a property transaction in Cyprus it is advisable to address to our team of Cypriot lawyers, who can help with the due diligence procedure - a recommended step (yet not compulsory) in this process.