FAQs
Read most frequent questions
What the first step of the home buying process?
The first and most critical step in the Cyprus home buying process is financial planning and budgeting. In 2025, this includes securing a mortgage pre-approval from a local bank (if needed) and factoring in an additional 8% to 10% of the property price for taxes, legal fees, and stamp duty.
Do I need a lawyer to buy a house in Cyprus?
While not legally mandatory, it is highly recommended to hire an independent property lawyer in Cyprus. Your lawyer performs essential “due diligence,” which includes verifying the Title Deeds, ensuring the property has no hidden debts or mortgages, and checking that all building and planning permits are valid.
Can non-EU citizens buy property in Cyprus?
Yes, non-EU citizens can purchase one apartment, one house, or a plot of land up to 4,014 square meters (3 donums). After signing the sales contract, the buyer must submit an application (Form Comm. 145) to the Council of Ministers for permission, which is a standard procedure usually granted within 2 to 3 months.
How much VAT do I have to pay on a property in Cyprus?
The standard VAT rate for new properties is 19%. However, for first-time buyers purchasing their primary residence (up to 130sqm), you may qualify for a reduced rate of 5%. Resale properties (previously lived in) are usually exempt from VAT but are subject to Transfer Fees.
What happens if a property in Cyprus does not have Title Deeds?
While many new projects in Cyprus are sold before the individual Title Deeds are issued, you are still protected if your lawyer registers your Contract of Sale at the Land Registry. This “Specific Performance” gives you legal ownership rights until the final deed is issued by the developer.
How much tax do I pay when I sell my property in Cyprus at a profit?
In 2025, the Capital Gains Tax (CGT) in Cyprus is a flat 20% on the net profit. However, you are only taxed on the real gain after deducting the original purchase price (adjusted for inflation), legal fees, estate agent commissions, and any documented property improvements.