When buying property in Cyprus, the purchase price is just the starting point. Below is a complete breakdown of every tax and fee you should expect, so there are no surprises at closing.
VAT (Value Added Tax)
Applies to all new-build properties purchased from a developer. Resale properties between private individuals are VAT-exempt.
Available for your first primary residence in Cyprus. Applies to the first 200m² of the property. The remainder is taxed at 19%.
Transfer Fees
Transfer fees are paid to the Department of Lands and Surveys when the title deed is transferred to your name. They are calculated on a progressive scale:
| Property Value | Rate |
|---|---|
| Up to €85,000 | 3% |
| €85,001 – €170,000 | 5% |
| Above €170,000 | 8% |
Important: If you have already paid VAT on the property (i.e. new-build purchased from a developer), you are exempt from transfer fees. This is a significant saving.
Stamp Duty
Stamp duty is paid on the contract of sale and must be submitted to the Tax Department within 30 days of signing.
| Contract Value | Rate |
|---|---|
| Up to €5,000 | 0% |
| €5,001 – €170,000 | 0.15% |
| Above €170,000 | 0.20% |
Maximum stamp duty is capped at €20,000.
Legal Fees
Expect to pay 1–2% of the purchase price in legal fees. A lawyer is essential for any Cyprus property purchase — they handle contract review, due diligence on the title deed, deposit of the contract at the Land Registry, and the transfer process.
Worked Example: €300K New Build (First Home)
| Item | Amount |
|---|---|
| Property price | €300,000 |
| VAT (5% reduced rate, first home) | €15,000 |
| Transfer fees (exempt — VAT paid) | €0 |
| Stamp duty | €490 |
| Legal fees (~1%) | €3,000 |
| Total | ~€318,490 |
Calculate Your True Cost
Use the byprus True Cost Calculator to get a personalized breakdown of all fees and taxes for any property you are considering.
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