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Residential Properties

For more than 20 years, Cyprus has been welcoming foreign citizens wishing to purchase residential property on the island. In accordance with the Law on the Acquisition of Real Estate, foreigners who are not EU citizens and who wish to purchase property in Cyprus must submit a written application to the Council of Ministers for a permit, and upon approval they must prove that the purchase was paid in foreign currency. At the same time, buyers can enter into ownership of the property without any restrictions.
Property transfer tax is imposed when transferring unconditional ownership of property in the name of the buyer. The tax must be paid when transferring the title to the buyer. The Buyer is responsible for the tax payment. Rates are set on a graded scale. Often this tax is payable for several years after the purchase.

Property Transfer Tax Rate

Property value
Rate
less than € 85 000
3%
from € 85 001 up to € 170 000
5%
from € 170 001 or more
8%
The contract of sale must be registered by the buyer at the Land Registry within six months from the date of its signing. The land registration system in Cyprus is unique because, by the principle of its operation, the history of each land plot can be traced to the day. Land rights are observed and secured, and all real estate transactions are protected. Transfer of ownership from the seller to the buyer is a simple procedure, performed at the Land Registry personally by the buyer or an authorized person. Title deed is registered in the name of the buyer and entered into the state archive.
Developers offer a lot of interesting objects for sale in various parts of the island. Depending on your interests, inform you about infrastructure, medical care, educational centers, schools, universities, beaches, tourist attractions, restaurants, shops etc.
Main /

Residential Properties