So you want to invest in property in Cyprus. Maybe you’re weighing up whether to buy an existing property from the resale market, or to build your own. 

In this blog we detail five of the key benefits of building your own property in Cyprus from scratch (Plot & Build) 

1. Take control of the layout

When building your own property from scratch, you will design the detailed floor plan with your architect and developer. This means that you can design your property to meet your specific needs. This is particularly important for large families or those who work at home and need a specially equipped space.

When buying a resale property, you are taking on the design laid out by the previous owner or original builder, and this might not suit your needs as well. Adjustments to an already-built property can cause issues. It is often necessary to issue a number of documents and appeals, wait for permission, and survive repairs. 

2. Use modern building materials

When building yourself, you can choose exactly what materials are used to construct your property. This gives you the opportunity to select modern building materials like light-weight steel, which has a number of benefits. 

Older buildings in Cyprus were often built solely to survive the heat. Newer construction projects are now considering comfort year-round. 

Despite the warm weather throughout the majority of the year, it certainly gets cold in the winter months on this Mediterranean island. Building from scratch enables you to make adjustments to keep the property warm in the winter, like efficient insulation and window double-glazing, which is often not included in older buildings in Cyprus. 

3. Make savings on utility bills

The world is facing a cost-of-living crisis as economists predict a recession in many countries globally. Everyone is looking for ways to save on electricity bills, and new builds are much more efficient in this area.  

“Energy efficiency class” is one of the important indicators of the quality of properties and the economy of its maintenance. “A” is the highest class, indicating that the building fully or almost completely covers the costs of residents on its own. Class “B” is slightly lower, but it still implies that electricity consumption is almost 2x less than in older properties.

Residents of new buildings typically pay 1.5-2x less for electricity, even whilst cooling their property in the summer and heating it in the winter. 

4. Avoid problems with former owners

When you find yourself with difficult former owners of the property you’re trying to buy in the resale market, you can encounter issues with uncertainty, delayed purchase dates and so on. Often, having legal support can resolve these issues, but this of course means more spending. 

When building your home from scratch, there are no former owners to deal with, hopefully reducing some stress in the process. 

5. Enjoy the novelty of housing.

For many buyers of real estate, it is important that the property be “brand new”. In other words, no one has lived in it previously. Fewer people want to buy a property with history. Building from scratch helps to meet this desire.

If you’re planning to invest in property in Cyprus and not sure whether to embark on a new-build project or head into the resale market, an expert at Helconia would be more than happy to discuss the options and implications with you. 

Have a look at some of our plot and build projects:

Projects

Come down and visit us in person:

https://goo.gl/maps/aXcXePvNeJCZtM3Y8?coh=178573&entry=tt