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Home -> Cyprus Property Off Plan - Payment Procedure

Cyprus Property Off Plan - Payment Procedure

 Off Plan Cyprus Property

When purchasing Cyprus property off-plan, whether a house in Paphos or an apartment in Limassol, developers will offer the most beneficial prices since you are assisting them in the initial investment. Therefore, as the off-plan development is constructed, prices are increased. This is the same all over the world in the construction industry. When the project is fully completed, the prices may have increased on average by up to 30%.

Construction Process:

Before the ground of the project is broken for construction purposes it is classified as "off-plan". You are purchasing from only the developer's plans, advertising literature and goodwill. This has an element of risk, as does any investment. However, we thoroughly check all our developers and only work with the most reputable companies who meet our strict criteria of professional management and practices.

Purchase Early Location:

To maximize your Cyprus property off-plan investment, purchase as early as possible to secure the best villa, house, or apartment in the best location on the development. It is guaranteed that the best located off-plan properties will be purchased first, and the least desirable last. The best investment properties in the best locations will also resell much easier and appreciate the most, providing you with the maximum return on your investment.

Payment Terms:

For off-plan Cyprus property you would pay normally 30% of the property's total value upon signing the contract, with €3.500 as a reservation fee to take the property off the market until the contract is ready to sign. The reservation fee will be deducted from the contract of sale.

Further payments are specified in all contracts and these may vary slightly from one developer to another. Periodical structured payments are as follows. Let us start at the beginning to better understand this important matter of finance.


  1. €3, 500 reservation fee to take the property off the market.

  2. 30% on signing the contract.

  3. 20% on completion of the concrete skeleton.

  4. 20% on completion of the brickwork and plastering.

  5. 20% on completion of the internal fixtures, tiles, bathrooms, kitchen.

  6. 10% (and) final payment on delivery of the property fully completed.


Construction completion requires 14 to 18 months on average, with larger projects taking longer. Payments are only made, subject to the contract provision; when each stage is completed.

Cyprus Mortgages:

We have many local banks providing loans for off-plan Cyprus property investments requiring a 30% deposit from you to secure a loan. Although with the present financial world crisis, some banks may ask for higher deposits. Cyprus mortgage rates are currently 5.8% (at 1.5.08). However, the rate will decline progressively up to our changeover in the Euro (1 January 2008). You may also consider an overseas mortgage.

In order to maximize your ROI and your loan to mortgage values, consider mortgages in Swiss francs currently stable at 3.25% or contact us for further advice on mortgages.

Capital Appreciation in Cyprus:

The declining value of the Cyprus pound up to 2008 will increase capital appreciation, with mortgages dropping and property prices increasing. We expect the off-plan Cyprus property market to grow by approximately 25% from present levels over the next five years, provided interest rates drop as anticipated. However with any investment, they many rise or fall in their return. 

See Also: Investment Benefits | Property Developers | Buy To Let | Rental Returns