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The detailed information (click 'Detailed information' above) is updated with the latest rules and regulations as far as everybody understands them. Essentially, it remains a very simple process to buy a property here, choose the one you like, pay a deposit, make the agreed payment schedule and it is yours. One problem with buying a property is the overwhelming choice of properties and developers available to you. You'll soon notice that just about everybody you speak to is in the property business in one way or another - either building on land they own or working with a builder in some way, you really can buy a house in just about every shop and restaurant that you visit! And that's not mentioning the large, established property developers whose signs and offices you'll see all over the island. Our advice is to take your time! Don't rush into anything and certainly don't believe the stories about having to make a decision that day 'because they are going so quickly...' The property market is moving quickly but there really is no need to rush such an important decision. The best way to buy here is to take an extended holiday or, if you are already committed to moving out then take a long-term rental and get to know the place before you take the big step of purchasing. You can find some really nice long-term rental properties (we can help if you like) for just a few thousand Pounds per year so you'll already be saving money over your UK outgoings. Once here, you can spend your time looking at the different areas, speaking to the builders and examining their previous work! In practice, most plots are around 600 to 1,000 sq/m unless you want to buy something that is far away from everything else. if you do (and there is plenty of land available) you have to remember that the cost of providing services (electricity, water, telephone) may be prohibitively high. Each plot has strict rules which govern the percentage of 'covered area' that can be built on the land. In the towns or in the middle of villages the rules allow 100% covered area so if you had a 100m˛ plot you could build a house with a total 'covered area' (the area of all the living space added together) of 100m˛. As an example, you could build a very large bungalow or a two storey house with each floor of 50m˛ and still have a bit of a garden. further out from the towns and villages the 'covered area' regulations can be as low as 20% meaning that, in the example above, you could only build a tiny 20m˛house. In practical terms it means that houses out of town have much larger plots and rural areas are protected from over development. As a practical example, the plot we fell in love with was 1,250m˛with a 'covered area' limitation of 20% meaning that all the rooms could have a maximum area of 250 sq/m (a huge house!). In addition, there are some other 'tricks' too such as not putting a garage door on the garage so that it becomes a 'car port' which doesn't count in covered area calculations (you can add the door later after it has been inspected)... We added a 'Attic Room' to our house along with a basement both of which are not included in covered area calculations. |
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