The ultimate guide to real estate development, construction, and regulatory terminology in Cyprus and Greece.
The technical permit issued after the Town Planning Permit. It verifies that the structural, mechanical, and electrical studies comply with safety regulations. Construction cannot legally begin without it.
A developer escrow account is a bank account supervised by an independent agent (a bank or lawyer) where buyers deposit staged off-plan payments. Funds are released to the developer only when a documented construction milestone (foundations, frame, roof, handover) is reached. In Cyprus, escrow is not yet mandatory by law but is widely used in deals with international buyers and in project finance from EBRD and local banks. Escrow raises buyer confidence, especially in the premium segment, and simplifies bank guarantees.
Established on July 1, 2024, EOAs (Επαρχιακοί Οργανισμοί Αυτοδιοίκησης) are the newly formed local authorities in Cyprus responsible for issuing Town Planning and Building Permits, absorbing duties previously held by municipalities and district offices.
Source: Cyprus Ministry of Interior (moi.gov.cy)
A construction Gantt chart is a visual map of the build schedule, where each phase (excavation, foundations, frame, MEP, finishes, landscaping) is shown as a bar with start dates, end dates and dependencies. A typical Cyprus residential project carries 60–120 tasks linked to subcontractors and payment milestones. Dependencies (for example, finishes cannot start until MEP is signed off) automatically push dates when delays happen. When the Gantt is wired to the buyers' payment schedule, any delay instantly recalculates the invoice timeline — without manual emails.
The integrated electronic system used by the Cyprus government and EOAs for the submission, review, and issuance of building and planning permits. It aims to digitize the application process for architects and developers.
Source: Cyprus Ministry of Interior portal
Off-plan sales are the sale of an apartment to a buyer before it is physically built, based on architectural plans, renders and the Ippodamos permit. In Cyprus, off-plan dominates the premium Limassol segment and the holiday Paphos segment: up to 70% of deals close before the frame is up. Buyers pay in tranches against the construction schedule — 30% on SPA signature, 10–20% per phase, 10% on handover. The main buyer risk is opacity over construction progress. A Buyer Portal with real photos and Gantt updates reduces refunds and accelerates repeat sales.
Qobrix is a popular Cyprus real estate CRM, built around lead generation and agency portfolios. For developers running their own projects, its functionality runs out fast: no visual construction Gantt, no payment-to-phase linkage, no Ippodamos/EOA permit tracking, no automated Service Charges after handover. Developers quickly hit a sales-only ceiling — the sales team works in Qobrix, construction lives in Excel and WhatsApp, accounting sits in a separate ledger. The alternative to a sales-only CRM is an integrated platform that closes the site-to-sales gap.
The Reservation Fee is the deposit a buyer pays to take a unit off the market for an agreed period (usually 14–30 days) before signing the SPA. The Cyprus standard is €5,000–€10,000, reaching €20,000 in premium Limassol stock. Legally captured in a short Reservation Agreement, it is either credited to the first SPA installment or refunded if the parties fail to sign for reasons attributable to the developer. If the buyer walks away without legal grounds, the deposit usually stays with the developer. Clean reservation tracking prevents the same unit being sold twice.
Service Charges are the communal fees that apartment owners in Cyprus complexes pay to maintain shared areas: lifts, pool, security, landscaping, building insurance, sinking fund. They are governed by the Immovable Property (Tenure, Registration and Valuation) Law Cap. 224. The amount is set per ownership share (μερίδιο) at the annual general meeting. Developers typically administer the complex for the first 1–2 years post-handover until a Management Committee is elected. Transparent administration of Service Charges is a critical reputation factor for the developer after handover.
A comprehensive list of minor defects, unfinished work, or faults in a newly constructed property, compiled before the final handover to the buyer.
In Cyprus, the SPA is the primary legal contract between developer and buyer, governed by the Sale of Immovable Property (Specific Performance) Law Cap. 232. The document defines the price, the staged payment schedule tied to construction phases, the technical specifications of the unit, the responsibilities of each party and handover conditions. The SPA is signed after the Reservation Fee is paid and must be lodged with the Land Registry within 6 months — this protects the buyer's rights even before the Title Deed is issued. Any project change driven by Ippodamos (for example, a balcony reduction) requires a formal addendum to the SPA.
The official legal document issued by the Cyprus Department of Lands and Surveys that proves ownership of a specific property.
Source: Cyprus Department of Lands & Surveys (dls.moi.gov.cy)
The first and most critical permit required for any development in Cyprus. It ensures the proposed project complies with local zoning laws, building density, and coverage ratios.