Cyprus property Frequently Asked Questions

We are frequently asked questions concerning purchasing property in Cyprus, renting property in Cyprus and about Cyprus in general. You can e-mail us with your questions by clicking on the Post A Question button. Here are some of the questions frequently asked by our visitors:

1. Can I list my property with LPN while I am in the U.K?

Yes you can. We will however require access to the Cyprus rental property to inspect it and if necessary take some high quality photographs unless you can supply them yourself. A full description of the property will also be required and this too we can arrange for you. Listing with us could not be easier and you can rest assured we will look after your Cyprus property as if it was our own.

2. How do I pay for your services?

You can pay either in cash; send us your cheque, direct deposit into our bank account or by credit card.

3. Can I buy property easily in Cyprus?

Compared to other countries across the globe buying property in Cyprus is very easy. There are no restrictions on the number of properties you buy if you are a citizen of Cyprus or an EU Citizen.

4. Is buying property in Cyprus safe?

Most certainly. If you are buying off plan, your Contract of Sale is registered with the Land Registry once signed. Other property where deeds are available the property can be transferred into your name immediately.

5. Are the properties for sale freehold or leasehold?

All of the properties we sell are freehold.

6. Do I have to use a lawyer?

No. We can attend to all the work for you. It is recommended that you use a lawyer however and always seek legal advice.

7. Are there any restriction if I wish to sell my Cyprus property?

There are no restrictions on selling your Cyprus property.

8. Can you help me with furniture for my Cyprus property?

We have various packages readily available that have been hand picked by our experts. If you prefer we will take you around to suppliers and will assist you with selecting your furniture, electrical goods, linen and curtains.

9. Will I get after sales support?

Most certainly yes. We also offer this service ensuring that your property is well looked after. The developers listed on our site all have excellent after sales support especially if you are purchasing in a large development.

10. What are the average management charges for communal services?

Communal service charges range from € 70 - 110 per month depending on the project and the services provided within the project i.e. swimming pools, tennis and squash court, gym, etc. You can see full details on our site.

11. Can I get a mortgage in Cyprus?

Yes, we have a special arrangement with some of the leading banks in Cyprus, who will offer you extremely good rates on mortgage loans.

12. What is the maximum I can borrow on a property in Cyprus?

You can obtain a loan of up to 80% of the property valuation or purchase price whichever is the lower.

13. What proof of income is required?

All applications need to be supported by your proof of income. If you are employed you need to submit your last three months pay slips and a P60. Often we request that the clients also submit their last 6 months personal bank statements. If you are self-employed you will need to submit audited financial accounts alternatively a letter from your auditor/accountant confirming your annual income during the preceeding financial year and current years forecast.

14. How do the banks qualify lenders?

Your loan will be based on your personal income and calculated on affordability. As a guide your monthly installment on the loan must not exceed 40% of your monthly income.

15. Can LPN help me with my mortgage in Cyprus?

Yes, we will assist you throughout the process and this includes the preparation and submission of your application. We will ensure that all relevant documentation is in order before processing the application. Often and at your request we can obtain approval in principle for you before you enter into a contract to ensure that you will obtain the loan.

16. Can I open a bank account in Cyprus?

Yes, we will have links with a number of banks in Cyprus and can assist you with the opening and maintenance of the bank accounts as well as arranging credit cards and internet banking so that you can view your accounts from anywhere in the world.

17. Is it necessary to come to Cyprus in order to open a bank account or to register a company?

No it is not necessary to come to Cyprus and we can assist you with this.

18. How do I rent my Cyprus property?

There are many ways with numerous agencies spread throughout Cyprus. There are also a large number of holiday rental websites both in Cyprus and in the U.K who will no doubt advertise your property for you. You can also rely on us to get the best possible exposure and return.

19. What sort of income can I expect per month for long-term tenancy agreements if I purchase property in Cyprus?

The long-term rental market in Cyprus is very active and you can expect anything from € 450 a month up to € 1200 a month. Obviously it will depend on the size of the property.

20. What sort of income I can expect per day for short-term lets?

The minimum daily rental you can expect to receive is € 50. One bedroom properties are marketed at € 50 and three bedroom properties from € 90 a day. For a 3-4 bedroom villa with private a pool daily rentals range from € 150-300.

21. Would I need to contribute or top up the mortgage if I let a property long-term?

This will depend on the amount borrowed and the length of the loan. We will normally guide you on this as we will obtain a pre-approval of your loan, and you will know how much your monthly installments will be and what to expect from your property rental.

22. Are there advantages of short-term rental over long-term?

Short-term rental can be charged at much higher rates. The added advantage is that during the vacant periods the owner can use the property as a holiday home.

23. How much commission does LPN charge for managed rental services?

We charge 0% of rental income received if you are a member or advertise with us.

24. Who sets the rentals for my Cyprus property?

The rates are agreed with you prior to any listing. We will however advise you on market related rates.

25. Can you assist me with insurance?

We can help with the arrangement of insurance and we will guide you on the cover that you ought to take.

26. How do I pay my deposit once I have booked a holiday property?

You can deposit direct into our account or pay by credit card. Paying by credit card we have created a secure form and payments are made via JCC. Data transferred this way is very secure.

27. How do I get to my holiday destination from the airport?

We offer collection from the airport alternatively we will e-mail you clear directions on how to get there. You will also be provided with our local contact telephone numbers. With the information at your disposal you will arrive at your destination without any inconvenience.

28. Can I drive in Cyprus using my EU National full driving license?

Yes. All driving licenses issued in EU member states are valid and you will be able to drive in Cyprus. Licenses issued in some other countries are also valid whilst in some cases an international license may be required.

29. Is Cyprus a full member of the EU?

On 1st May 2004, Cyprus became a full member of the European Union. As a result EU Citizens are now allowed to live and work freely in Cyprus.

30. How is Cyprus cost of living?

Cyprus has a very high standard of life but a low cost of living in comparison to other European countries. We would say the average cost of living is about 35% cheaper than the European average.

31. Do the Cypriots speak English?

Over 80% of the locals speak English. With tourism increasing German, Russian and French is also widely spoken.

32. How is the crime rate in Cyprus?

Virtually non existent. The crime rate in Cyprus is about 15% of an average European country. Cyprus is regarded as one of the safest places to live in or visit in Europe.

33. Once I have moved to Cyprus can I work there?

In terms of the Aliens and Immigration Law, non-Cypriots who wish to take up employment in Cyprus are required to have a work permit. The process is however a mere formality which is expected to be lifted shortly.

34. How does the medical care system operate?

The medical care system in Cyprus is inexpensive. A doctor's visit costs about € 30 and X-rays about the same. Private Medical Insurance is also available. Cyprus residents, whether Cypriots or not, can have a private medical insurance from as little as € 200 pa. The health care is of a very high standard with the majority of the doctors having being trained in the U.K and U.S.A.

35. Is the British Pension subject to Tax payment?

Yes it is! According to the Cypriot tax system you are obliged to declare your income from pension. Individual non-Cypriot residents are taxed on a flat basis of 5% per annum on pension and investment income brought into Cyprus. See the full tax guide on our website for full details.

36. What are the driving regulations in Cyprus?

Visitors in Cyprus may drive using a valid International Driving License or their National Driving License. You may convert your national license to a Cypriot one.

37. What is the Cypriot communication system like?

Cyprus has one of the most advanced and cheapest telecommunication systems available. ISDN, ADSL and standard dial-up PC networking are also easily accessible.

38. What is the governmental structure in Cyprus?

Cyprus is an independent and sovereign republic with the elected president as head of state, who is normally elected on a 5 year election cycle. The legislative power lies with the House of Representatives and appointed council of ministers. The legal system is based on the British/European system with independent power exercised by judiciary.