CYPRUS PROPERTY INVESTMENT

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10 Things you need to know about a residential complex with communal areas

Residential complexes with communal areas offer unique living experiences, but they also come with specific responsibilities and regulations that property owners need to be aware of.

Whether you are considering buying a property in a complex or already own one, understanding the key aspects is essential for a harmonious community and legal compliance. In this article, we will explore ten crucial things that every property owner in a residential complex with communal areas should know.

The difference between New vs Re-Sale Property in Cyprus

Primarily let us clarify the terminology. By the term “new property” we mean a property which has never been lived in and this includes a property which is “off-plan” (construction not yet started), as well as a property which may be under construction, whether part of a building project or on its own.

On the other hand, by using the term “re-sale” we refer to a property which has been previously used and such a property could be one with a title deed in place or a property which is still pending the issuance of a title deed. Here are five main issues to be aware of.