There is a great deal of confusion regarding the extent of apartments in Cyprus and how it is measured. Each group/developer uses their own calculation methodology, so the unsuspecting buyer does not know what they are really buying. Various developers and vendors use imaginative approaches to how the extension should be calculated, usually giving an exaggerated picture of the size.

The “market” uses the gross building area of ​​an apartment, that is, the area outside the unit, including covered terraces and a proportion of the common (covered) area on the floor on which the apartment is located. Thus, if the common room and the staircase of the apartment are, say, 20 m2, and there are 2 units of the same size sharing the apartment, the size of the apartment increases by 10 m2. each (or by analogy in relation to the size of each unit). Uncovered areas/terraces must be given separately.

Unfortunately, several “imaginative” people include in the square meters. of the unit, the proportion of the common vestibule of the plant, the storage area in the basement / parking lot and other covered areas that are in common use.

For all the confusion, the Land Office has chosen to go its own way, by giving the gross area of ​​the apartment (excluding the common area) i.e. the external build area and additionally referring separately to the covered and at Discover. verandahs. So, in such cases, the apartment that a developer sells for (say) 100 m2, the Land Office registers the title deed, say 85 m2. or even 70 m2, plus let’s say 5 m2. covered terrace (excluding the common room).

So how can a potential buyer compare the different apartments they want to buy if there is no common calculation basis? – In the UK the sq. the footage (square feet) is given in terms of internal dimensions, excluding external and internal dividing walls and also common areas, while in Greece the extent is given excluding common area and terraces. As such, we suggest, as a comparative method for potential buyers, to use the following:

1. Gross area of ​​the apartment (exterior walls included and 50% of the dividing walls with the adjoining apartment – if any).

2. Include the part of the common area on the floor where the apartment is located in analogy with the extension of each apartment, up to a logical extension of 15%.

3. Include covered terraces up to 20% of the extension of the apartment.

4. Include uncovered verandas but 1/3 of their extension

At least this is a method based on which one can compare against the alternatives.

With apartment prices reaching a high, she realizes that measuring an apartment correctly becomes quite serious. Current prices in Nicosia now (new units) are around €2,000/m2, in Limassol €2,500/m2, in Larnaca €1,850/m2. and in Paphos €1,950/m2. For tourist areas, prices start at €12,000/m2. (beach) at €4000/m2. (no beach but close to it). The total price includes the value of a store (usually 3 m2) and parking. Second-hand accommodations have a discount on the price of new ones by around 15%-30%, depending on the location and the level of maintenance, as well as age. There are cases where pre-owned units are worth more than new (eg due to title availability, mature gardens, etc.), although this is a rarity.

If you want to compare the value of one apartment in relation to another, here is a formula that, although it is not precise, is mainly useful for comparing prices.

1. Surface unit including the exterior walls. Common walls with a neighboring owner to be measured at half their width: Unit 1 (100 sqm = 100 sqm)
2. Balcony area covered up to 20% of the above sqm: Unit 1 (20 sqm = 20 sqm)
3. As above and more than 20%: Unit 1/2 (10 sqm/2 = 5 sqm)
4. Common use area proportional to the apartment up to 15% of the area 1-3 (=125m sq): Unit 1 (19.0m sq = 19.0m sq)
5. More than 15%: Unit 1/2 (10 sqm = 5 sqm)
6. Open balcony/garden up to 20% of the area of ​​1-5: 50%
7. More than 20% open balcony/garden: 20%

We hope that this, in some simple way, but based on a common formula, will be adopted by all to maintain a comparable method for the benefit of buyers who are not fully aware of what they are actually buying.

We hope we have helped you in your search to buy a flat.