Real estate investors who want to buy housing in Cyprus want to make sure that they choose a reliable construction company to work with. It is important to work with a reliable company to ensure the quality of the house and make sure that your investment is trouble-free. In this article, we will give you some tips on spotting reliable construction companies in Cyprus.
Cyprus is a good choice for real estate investment due its various advantages. Unfortunately, some do try to abuse this situation with some construction companies scamming investors by selling the same house to more than one person or declare bankruptcy right after the sales. It should be noted that such events are rare. However, you still need to know some important factors to ensure such a misfortune doesn’t occur to you and that you are working with a reliable construction company.
In addition, some real estate investors choose to buy a house off the plan due its more affordable pricing. Compared to turnkey properties, it is reasonable to say that buying off the plan certainly involves more risks. In this case, delays in the completion time of the property or any other mishaps on the part of the construction company puts your savings at risk.
For all these reasons, it is always important to gather in-depth information about the construction company before buying housing off the plan. If you want to turn your savings into investments safely, you should definitely do diligent research about the construction company. So, which construction companies are reliable in the TRNC?
Reliable Construction Companies in Cyprus
In order to find reliable construction companies in Cyprus, you must do a preliminary research. Let’s say you have chosen the house you are going to buy. The first thing you need to do after this step is to gather information about the company that made the sale. So, how do you identify reliable construction companies?
How do I understand which construction companies are reliable in Cyprus?
By paying attention to these basic points you can make sure you are working with a reliable company while investing in real estate.
Pay attention to the year the company was founded.
Although the foundation year of the construction company may seem insignificant, it is an important factor to consider especially when you’re buying a house off the plan. If you are buying a house off the plan make sure the company you’re working with is not completely new.
Choose local construction companies
Local construction companies that have been operating in the TRNC for many years are among the safe companies known by everyone. Therefore, if you are looking for reliable construction companies in Cyprus, we recommend you to choose local construction companies.
Check the construction companies’ portfolio of old projects
Even if you are buying a house from a new project, make sure you look at the houses that the company has already sold. Examine the projects the construction company has done in the past. Were they completed within the promised time? Is the project occupied by residents? Whether a construction company is reliable or not is reflected on the projects they have done in the past. So take a look at the real estate projects that the construction company has completed.
Consult real estate agents
Realtors are real estate professionals who know the industry the best. They have information on everything from completed projects to new projects. Hence, it would be very wise to consult a real estate agent about the construction company you are planning on working with.
Furthermore, make sure the real estate agent you choose to consult with is not working with a construction company, as they may mislead you. In order to avoid this issue consult multiple real estate agents.
Here’s what you need to consider when choosing a real estate agent in Cyprus: What Should I Consider When Choosing a Real Estate Agent in Cyprus?
Talk to the subcontractors
Construction companies work with subcontractors when building a new property. Such subcontractors include building inspectors, architectural offices and engineering companies. If possible, you should try to contact these companies and inquire whether the payments are made on time. This step is a little difficult to do, but you have the opportunity to learn about companies with weak financing. As a result, if you are researching reliable construction companies in the TRNC, you should try to contact the subcontractors of the project.
Research the company
If you have time and opportunity, you can talk to the people who bought completed houses from the construction company you want to work with. Now it is also easy to do this step with a simple search on the internet. For this, you can go to Google and search for ‘Construction Company Name + Complaint’.
Contact us
If you want to buy a house from reliable construction companies in Cyprus, you can contact us via the contact button at the bottom of the page and benefit from our free real estate consultancy service.
