Buying an off-plan property in Cyprus is both beneficial to the buyer as well as the Cyprus developer for a number of reasons. Firstly, the buyer will benefit from the off-plan price which will be considerably lower than that of a completed Cyprus property. Offering Cyprus properties as off-plan investments in Cyprus will benefit the developer as the deposit received will help finance the construction of the project or property.

Off-plan properties are available in all areas of Cyprus including Limassol, Larnaca, Paphos, Ayia Napa etc with residential off-plan properties available as well as coastal properties and the choice is vast with both apartments in Cyprus and houses in Cyprus offered as off-plan to investors or buyers who are able to wait for the period of completion.

An off-plan property in Cyprus is offered to the potential buyer through brochures and architectural plans. The buyer of the off-plan Cyprus property can therefore make changes to the designs creating their ideal home in Cyprus. Changes can also be made to the exterior of the property as long as this is done before the plans have been approved for planning, receiving planning permission.

Prices of and off-plan property in Cyprus will increase during the time taken for competition. Completion of off-plan properties can take anything up to 24 months and once the project or property is completed and ready to be delivered to the buyer, the prices can increase anything up to 30% from the purchase price.

Payment terms for buying an off-plan property in Cyprus vary, depending on each developer’s terms of payment. A common method of payment used by most developers in Cyprus is a small reservation fee set for an agreed number of days usually CYPЈ2000 followed by a 30% deposit of the agreed price upon signing of the contract followed by another 40% after 6-8 months and the final 30% on completion and delivery of the property in Cyprus.

These terms however depend on the time expected for completion of the project and can sometimes require payment terms of 30% of signing of the contract followed by 2 lots of 20% and the final 30% of completion of the Cyprus property.

For buyers interested in Cyprus properties for investment purposes, off-plan properties are the ideal and guaranteed investment method.