Associated Costs Information

Exchange Rates

Transfer Fees

Property Transfer Fees are payable once only to the Land Registry office, and the amount is based on a sliding scale (shown below). The fee is borne by the purchaser and is due when the Title Deeds are transferred to his/her name.

Purchase Price	Transfer Fee
Up to CY£50,000	3%
CY£50,000 - 100,000	5%
Over CY£100,000	8%

These fees are applicable on a sliding scale as follows, eg.

On a property with a purchase price of CY£130,000

The first CY£50,000 is charged at 3%	CY£1,500
the second CY£50,000 is charged at 5%	CY£2,500
and the remainder CY£30,000 is charged at 8%	CY£2,400
Giving a total Transfer Fee payable of	CY£6,400

Peyia !! HUGE REDUCTION FOR QUICK SALE !! Open plan living and dining areas with fireplace, and the kitchen accessed through an archway, 3 bedrooms (one of which is en suite) and a family... €275,000 About: £223,575 $\Cyprus$ CY£0	Emba 3 Bedroom Apartment Open plan living and dining areas, kitchen with granite worktops is accessed via an archway, 3 double bedrooms (2 of which open onto covered... €225,535 About: £183,360 $\Cyprus$ CY£0	Tala 3 Bedroom Detached Villa with pool An entrance hall leads into the lounge with bay window, dining room, kitchen with solid wood units and granite worktop, storeroom, one bedroom and... €384,435 About: £312,546 $\Cyprus$ CY£0
Lysos 4 Bedroom Stone Built Bungalow with pool A two-storey villa carefully designed to harmonise with the surrounding landscape, having a total covered area of 245sqm, and set on a large plot of... €905,000 About: £735,765 $\Cyprus$ CY£0	Fyti 3 Bedroom Detached Villa The ground floor comprises open plan living, dining and kitchen areas, one bedroom, guest wc/shower room and useful understairs storage. Stairs lead... €322,925 About: £262,538 $\Cyprus$ CY£0	Kamares 3 Bedroom Villa with wave pool Entrance hall, open plan living and dining areas with fireplace, separate kitchen, utility room, storeroom, guest toilet, 3 double bedrooms (2 of... €596,300 About: £484,792 $\Cyprus$ CY£0

Cyprus Taxes

Immovable Property Tax

The registered owner of the Renovated properties in Cyprus is liable for an annual tax which is based upon the value of the property as of January 1st 1980. Property valued at up to CY£100,000 and owned by individuals are exempt from the tax, however, property exceeding that value the rates are as follows:

Market Value	Annual Tax
CY£100,000.001 - CY£250,000	CY£2 per thousand
CY£250,000.001 - CY£500,000	CY£3 per thousand
Over CY£500,000	CY£4 per thousand

Stamp Duty

A stamp duty of CY£1.5 per thousand is levied on purchase contracts with a value up to CY£100,000. Above this amount the rate is 2%. This duty is payable within 30 days of signing the contract. This single payment is payable by the purchaser upon presentation of the purchase contract to the tax authorities for authentication, and validation of the contract as an official document acknowledged by the government authorities.

Local Authority Tax

Property taxes levied by local authorities are in the range of CY£30-100 per annum, depending on the size of the property. The tax covers the cost of garbage disposal, street lighting etc.

Common Expenses

These are payable yearly and vary from developer to developer, the area of the property, and amenities offered. They cover an owner's share towards the cost of the cleaning and maintenance for common areas and gardens, swimming pool expenses, management fees, collection and repairs. Prices on average range from CY£150-CY£280 per year.

Electricity and Water Supplies

Both services are payable to the appropriate authorities over fixed periods throughout the year. They are based strictly on the consumption of each unit. While the cost for every unit will vary, a rough guide could be approximately CY£180 per property per year. The local Municipality is usually responsible for garbage disposal (see section on Local Authority Tax)