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All Costs involved when buying a Property in Cyprus. |
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| Q : |
What Stamp duty is payable? |
| A : |
The rate of the stamp duty is 2.56 per thousand up to the value of 170,000, thereafter the rate is 3.41 per thousand.
For example if the purchase price is 272,500
The first 170,000 1.5% = 255
Next 102,500 2.0% = 205
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Total 460
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| Q : |
What Transfer fees are payable? |
| A : |
The fees are charged on the propertys market value at the date of purchase.
Value of Property(Euros) Transfer Fee Rate
Up to 85,000 3 %
From 85,000 170,000 5 %
From over 170,000 8 %
For example if the purchase price is 162,000
The first 85,000 3% = 2,550
Next 77,000 5% = 3,850
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Total 6,400
Should the purchase be made in joint names (provided the price is more than Euros85,000) the effective value for the calculation is halved.
For example is the purchase price is Euros162,000
The first 81,000 3% = 2,430
Next 81,000 3% = 2,430
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4,860
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