Real Estate


Taxes and Cyprus Real Estate

Taxes and Cyprus Real Estate

Like anywhere else in the world, taxes and fees are added onto the costs of property purchases in Cyprus. When you take into consideration the new laws and the fees that you, as a buyer, are liable for, the cost is moderate in comparison to other countries. When purchasing property in the Republic of Cyprus, you should be aware of what these extra charges will be. The costs start the minute you accept an offer, as you will be required to put down a small deposit which is not refundable. After the contract is signed it is expected, in most cases, that 20% - 30% of the purchase price is paid as a deposit. The remainder will be paid according to your agreement with the seller, which will be clearly stated in the contract.