There are many advantages for overseas property purchasers to buy off plan properties.
The key advantage of buying off plan lies in the price as you can expect to pay as much as 30% less than the current market value for a property that has not been built.

You can secure the value of the property at today’s prices for a small deposit and benefit from capital appreciation as the land and property price increase during the construction phase
The payment terms are staged so that the cost of the purchase is typically spread over the 2 year construction period.

Then take in consideration the quality, Philippou Properties incorporates the latest building techniques and materials. Building regulations have been constantly improving in Cyprus over the years, so rest assured our new properties are the best on the market.
Specifications offered by Philippou Properties are second to none, all properties come fully equipped with the highest standard of interior materials imported from all over the world.

Another advantage comes with the guarantees you are entitled to when you buy newly-built property. Structural defects are guaranteed for a minimum of 10 years and interior defects for 2 years.

Finished or re sale properties in Cyprus have to be purchased 'as is' with no scope for your own tastes at the beginning. Your off-plan property purchase with Philippou Properties will offer much more flexibility in this area as we have a dedicated After Care Center available to cover any aspect during construction or after completion. In every case Philippou Properties allows the client many options in the style to which the property is finished, these include, bathrooms, kitchens, wall colourings and floorings.

Lastly there is an 'option' advantage given the between the signing of the property exchange contracts and delivery of your property. All property purchase contracts are fully assignable at any stage, this means that you can sell on the contract to another buyer and potentially making a profit from your real estate purchase.

Once you have chosen a villa or apartment in Cyprus with Philippou Properties the first step is to reserve the property and fix the price. This is done by paying a reservation of 3.000 Euros.
Your independent lawyer will then send through a copy of the purchase contract, you have 28 days from date of reservation to sign the contract and make your first stage payment.