We have listed below all of the possible costs which may incur when buying a property in Cyprus. If you have any questions please contact us and we will be more than happy to help you.

Transfer Fees

These are payable by the purchaser when the property is registered in their name at the Land Registry. They are based on the market value of the property on the day of purchase.

The rates applied are;

3.0% on the first €85,000

5.0% on €85,00-€170,000

8.00% over €170,000

Immovable Property Tax

The annual immovable property tax is calculated on the market value of the property as of 1st January 1980 and is payable by the owner of the property.

Capital Gains Tax

Capital Gains Tax is payable upon disposal of a property. The first €17,000 for each person is exempt. The rate payable is 20%. The gains are the difference between the sales proceeds and the original cost of the property.

On top of this allowance, the seller is entitled to a further allowance regarding the transfer fees paid, inflation rate per year and the cost of any additions made to the house.

Stamp Duty

The purchaser is liable for the payment of stamp duty at the rate of 2.50 Euros per thousand up to the value of 170.000 Euros and thereafter at the rate of 3,50 Euros per thousand.

For example if the purchase price is Euros 272.500

Estate Duty

Estate Duty tax was abolished on the first of January 2000
(Statute No.78(1)/2000).