Buying a house takes eight months in Greece and just four days in Cyprus
Buying a house takes eight months in Greece and just four days in Cyprus
Many foreign buyers of property utilize their assets and the resell them, reaping profits.
Nikos Roussanoglou
18.11.2024
It takes around eight months to complete a house purchase in Greece, while in Italy it takes 120 days and in Cyprus only up to four days.
Issuing a property identification number without the competent authorities having been digitized is the biggest problem.
Almost one in two residences shows some surface discrepancy, between how it is depicted in various documents (eg cadastral registration, initial composition of horizontal property, TAP, etc) and what its actual surface is. This means weeks or even months to get a building’s details right, needing the consent of all the involved owners.
Another big obstacle regards the presentation of a construction permit
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