According to Articles 8 and 9 of the Foreigners Law 52/2008, foreigners have the right to acquire real estate under the following conditions:
1. The area of the land plot does not exceed one donum (14,400 square feet);
2. When purchasing a house or apartment, the size of the land does not exceed five donums. It is prohibited to build another dwelling on land originally purchased as a house or apartment.
3. Housing is not located in military restricted zones and military security zones ( up to 300-500 meters from military installations).
4. A foreigner can buy only one object (a house or a plot of land, or a house with a plot of land).
Before buying a home, it is important to check documents and search the Land Registry to obtain up-to-date information about a particular property.
In order for a foreigner to obtain title, a purchase permit must be obtained. This permit gives the buyer the right to become the legal owner of the property. The Home Office searches the land registry, military and immigration authorities. This process can take from 6 to 12 months (sometimes longer) from the date of application. The permit review does not prevent you, the buyer, from signing the purchase agreement, moving into the home, or subsequently selling it.
Important! If the property has any encumbrances, we recommend not buying such property! If the seller does not pay the mortgage, there is a possibility, even if there is a registered agreement in the land registry, to lose the property.
