Offshore Companies Could Therefore, Acquire Property Within The Above Limits

Category: Finance.

Quality: In all advertisements for the sale of flats you will find the word luxury.

If the flat you are buying is not ready, have your property surveyor go through the specifications of the materials and finishes so that he can explain their meaning to you. What is luxurious accommodation may be far distant from what you will get however. The quality of construction is another problem. Show a preference to blocks utilising low maintenance materials: sprits finish to a block as opposed to decoration is an advantage. Normally the developer s reputation and a visit to a previous project will give you an idea of what you can expect. The use of timber windows as opposed to plastic ones is a disadvantage. Permission will be granted to company for the acquisition of property, provided that it is for its own use.

A poor quality lift will cause you major future difficulties etc. Offshore companies could therefore, acquire property within the above limits. Upon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval. Generally the permission will not be granted if the property is to be used for letting to others, commercial exploitation or speculation. When this is issued, it will have to be deposited at the District Lands Office so that the registration of the building on the title deed of the land is effected. Before the" craze" of village cottages started, there were some real bargains for this nature of property.

There is an increasing tendency by the local and the foreign market( in particular the British market) to acquire old village houses which are subsequently improved/ converted into modern residences. Nowadays cottages of character and colour are relatively expensive and they may amount, together with the repair improvement bills, in excess of what a new villa of the same size would cost.

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