Q :	How much can I expect to spend fitting my property with appliances and furnishings?
A : You can expect to spend between €5,125 and €8,543 on a one or two bedroom property, dependent on the size of the property the quality of the items purchased.

Q :	Can the Quality Group of Companies help with the purchase of goods?
A : We will get involved as much or as little as you wish. We can simply recommend stores and items, go shopping with you or purchase all of the goods on your behalf and save you travelling to Cyprus .

Q :	Roughly how much are property insurance costs?
A : As a general rule property insurance is charged at 1.65% of the current property value and contents are calculated at 2% of their total value.

Q :	Can Quality Group of Companies assist with insurance and mortgages?
A : We can help with the arrangement of insurance and various loan facilities. Alternatively all clients are free to go to their own preferred financial institutions.

Q :	Is it better to purchase properties as an individual or to set up a Cypriot company?
A : There are several factors to consider although as a general rule we recommend that anyone buying more than 3 units registers a company. Please see the attached "Trading in Cyprus" section on our website for more details.

Q :	Are the properties for sale freehold or leasehold?
A : All of the properties we sell are freehold.

Q :	How does buying in Cyprus compare to buying in other European countries?
A : Buying in Cyprus is very simple. The legal system is based on the British legal system making contracts and processes easy to understand.

Q :	Is there any form of compensation for late delivery of property?
A : The Quality Group of Companies will compensate clients if we are responsible for its late delivery. Our sales contract contains a clause relating to this matter.

Q :	Is there any incentive or discount offered by the Quality Group of Companies to encourage me to buy a second or third property?
A : Each case is viewed individually

Q :	If I purchase a rental property what sort of income can I expect per month for long-term tenancy agreements?
A : The long-term rental market is very active and properties are let from €427 a month up to €1,196 a month.

Q :	If I purchase a rental property what sort of income I can expect per day for short-term lets?
A : The minimum daily rental you can expect to receive is €34. As a general rule we market one bedroom properties at €51 and three bedroom properties from €85 a day. For a 3-4 bed villa with private a pool daily rentals range from €155-€239.

Q :

What are the benefits of long-term rental over short-term lets?

A : Long-term rental provides owners with a regulated monthly income enabling annual financial planning. In our experience long–term rentals are subject to less wear and tear than short-term lets which are more costly in terms of maintenance, breakages and cleaning. Short-term lets often have long vacant periods, especially during the off-peak season. In both cases you’re looking at an average return of 5-7% per annum from rentals combined with a 7-10% capital appreciation per annum. That gives you a total return of 12-17% per annum on your investment.

Q :	What are the advantages of short-term rental over long-term?
A : Short-term rental can be charged at much higher rates. It also has vacant periods during which the owner can us the property as a holiday home.

Q :	Would I need to top up the mortgage if I let a property long-term?
A : This is totally dependent on the amount borrowed and the length of the term. Usually in 25-30 year repaiment plans now toping up is needed.

Q :	How much commission do Quality Property Management charge for managed rental services?
A : We charge 15% of rental income received.

Q :

What is included in the managed rental services?

A : Included in the price we will: Carry out pre-tenancy clean, find tenants through various marketing and advertising sources, prepare rental contracts, take copies of tenant identification, hold deposits, prepare inventory, carry out check-in with tenant, property and key handover, organise and oversee rental payments, carry out check-out, return deposit, email/post dilapidations report and request for necessary costs.

Q :	Can we as owners of the property also let our properties privately?
A : All owners may use as many different sources to let their property as they wish. We do not ask for sole exclusive rights to rent out our clients’ properties. We are offering the service primarily to assist rather than to make a profit. All that we ask is that you keep us informed of availability.

Q :

How do I get the Title Deeds to my property?

A : Transfer of ownership from vendor to purchaser is accomplished by a simple procedure through the land registry office. The contract of sale must be in writing, and it is advisable that such contracts be registered at the District Land Registry Office within 60 days from the contract date. When issued, the title deed will be registered in the name of the buyer and will be recorded in the confidential government archives.

Q :	How long after delivery can I expect to receive my title deeds?
A : Title deeds generally take a minimum of 6 months and a maximum of 36 months to be delivered to the owner.

Q :

When do I receive title deeds for my free hold properties?

A : In Cyprus title deeds, unlike the UK , are issued after the completion of the project. In the case of houses this process may take up to 18 months. For an apartment in a project of 10 to 60 apartments this process can take up to 3 years. This does not mean you can not sell your property at any time before that. From the minute your contract of sale is registered at the land registry department the property is officially yours and you can sell your property the next minute.

Q :

What are the standard payment terms when purchasing a property from the Quality Group of Companies?

A : To reserve a property from our company we request a non-refundable deposit of €3,417. Generally within 20 days we ask for 30% to be paid at which time we shall register the signed contracts of sale with the land registry. We shall then request 20% upon the completion of the structure, 15% upon the completion of brickwork and rendering, 15% upon the completion of flooring and 20% upon delivery.

Q :	What happens if the company goes bankrupt before the property is completed?
A : The 30% deposit approximately represents the value of the land. More payments are made upon completion of each stage of development. In the unlikely event of our company dissolving the land registry would sell the land and the unfinished development and pass the proceeds on to clients who have registered their properties.