What it costs to buy in Cyprus
On Cyprus’s median asking price of €300,000, that is €6k – €21k on top.
Budget 2–7% on top of the asking price. Cyprus is unusual twice over: a new-build on which VAT was paid carries no transfer fees at all, and stamp duty was abolished outright on 1 January 2026.
Last checked 11 September 2026 against the sources listed at the foot of this page.
If you’re considering purchasing property in Cyprus, it’s essential to be aware of the associated buying costs and taxes. These expenses can significantly affect your overall budget, so planning is crucial.
This guide provides a breakdown of one-off purchase costs, ongoing expenses, and mortgage considerations for non-residents in Cyprus. Always consult a qualified local lawyer or accountant for the most accurate advice.
The lines that dominate the bill
- Transfer fees, resale
- 1.5–4% effective
- Statutory 3/5/8% bands halved by a standing 50% reduction on sales outside VAT.
- Transfer fees, new-build with VAT
- 0%
- Property on which VAT was paid is fully exempt from transfer fees.
- VAT, new-build standard rate
- 19%
- Applies to holiday homes and investment property — which is most non-resident purchases.
Every cost, in full
| Cost | Amount | What it is |
|---|---|---|
| Transfer fees, resale | 1.5–4% effective | Statutory 3/5/8% bands halved by a standing 50% reduction on sales outside VAT. |
| Transfer fees, new-build with VAT | 0% | Property on which VAT was paid is fully exempt from transfer fees. |
| Stamp duty | 0% — abolished | Repealed from 1 January 2026. Contracts signed on or before 31 December 2025 still carry it. |
| VAT, new-build standard rate | 19% | Applies to holiday homes and investment property — which is most non-resident purchases. |
| VAT, new-build reduced rate | 5% | First 130 m² where price is ≤€350,000 and the transaction ≤€475,000, for a qualifying primary residence. |
| VAT, resale | 0% | Second-hand property is outside the scope of VAT. Only transfer fees apply. |
| Legal fee | 1–2% + 19% VAT | Not a regulated scale. Covers title search, contract, and depositing the contract at the Land Registry. |
| Estate agent fee | ≈5% + 19% VAT | Paid by the owner, due on completion. Market custom rather than a statutory rate. |
| Land Registry searches and filing | ≈€50–150 | Small fixed fees, including depositing the sale contract for specific-performance protection. |
| Annual property tax | None | The national immovable property tax was abolished in 2017. Municipal and sewerage levies remain. |
| Non-EU buyer permit | No fee | District Administration approval is needed before title transfer. Typically a few weeks, capped at one dwelling. |
Who pays the estate agent
No. The owner pays the agency commission — about 5% plus VAT — and it falls due on completion.
The number you need before you can complete
A Cyprus Tax Identification Code is free and needed for later tax filings; whether it is strictly required to purchase is unconfirmed. Non-EU nationals separately need District Administration permission (Form COMM 145), which carries no fee.
Recently changed, or about to
Stamp duty was abolished from 1 January 2026 under Law 239(I)/2025 — older guides still list it. The transitional 5% VAT scheme (200 m², no price cap) expires on 31 December 2026.
Sources
Tax authorities, registries and notarial bodies first. Check the figure you care about before you rely on it.
- Cyprus: repeal of stamp duty lawsLaw 239(I)/2025 abolishes stamp duty from 1 January 2026.
- Abolition of stamp duty in Cyprus: the new legal landscapeLegal analysis of the repeal and its transitional effect.
- What taxes and fees apply when buying property in Cyprus?Transfer fee bands, the 50% resale reduction, and the 5% VAT conditions under Law 42(I)/2023.
- Buying property in Cyprus: a foreigner's legal guideNon-EU permit via Form COMM 145, no fee, one-dwelling cap.
- Cyprus land transfer fees 2026: rates and exemptionsProgressive 3/5/8% bands, 1.5/2.5/4% effective after reduction, 0% where VAT was paid.
This is general information for a non-resident buyer of a residential property, not tax or legal advice. Rates change, reliefs depend on your circumstances, and regional variation is the rule rather than the exception — take local professional advice before you commit to anything.
Cite this page
Habio, “Cost of buying property in Cyprus”. https://habio.ai/guides/cost-of-buying-property-in-cyprus
https://habio.ai/guides/cost-of-buying-property-in-cyprus
Free to quote with attribution to Habio. Every figure links to its source.
What you would actually be paying for
See what property in Cyprus is actually asking, by region.
The process in more detail
One-off Purchase Costs
When buying property in Cyprus, you should account for a range of one-off costs in addition to the purchase price. These typically include transfer tax, notary fees, registration fees, and legal fees.
- Transfer tax varies based on the property value; generally, it ranges from 3% to 8%.
- Notary fees are roughly 1% to 2% of the purchase price.
- Registration fees are about 0.1% of the property's value.
- Legal fees often range from 1% to 2% of the purchase price.
Total Percentage to Budget
It’s advisable to budget for total purchasing costs, including taxes and fees, to be around 7% to 15% of the property price. This range can vary depending on the specifics of the transaction.
Worked Example
Let’s consider a typical property purchase in Cyprus at a median asking price of €50,000. Based on common costs, the one-off expenses may look like this:
- Transfer tax (around 3%): €1,500
- Notary fees (2%): €1,000
- Registration fees (0.1%): €50
- Legal fees (2%): €1,000
Adding these amounts gives a total of approximately €3,550, which is 7.1% of the purchase price. This demonstrates how quickly costs can add up.
Recurring Costs of Ownership
Once you've purchased your property, there are regular costs to consider. These typically include annual property tax, communal fees if applicable, utilities, and insurance.
Property tax rates in Cyprus can vary, so it’s important to check local regulations and consult a tax professional for precise figures.
- Annual property tax may range from 0.1% to 0.2% of the property value.
- Community or condo fees vary widely based on services and amenities provided.
- Utilities (water, electricity, internet) typically range in price depending on usage and location.
Mortgage Costs for Non-Residents
Non-residents can face different lending criteria and rates when seeking a mortgage in Cyprus. While it’s possible to obtain financing, it’s essential to thoroughly research and understand the options available to you.
Generally, expect higher interest rates and a lower loan-to-value ratio for non-residents compared to local buyers.
Conclusion
Understanding the complete financial picture when buying property in Cyprus is crucial for making informed decisions. From one-off purchase costs to ongoing expenses, proper planning can help avoid unexpected financial challenges.
Always seek guidance from local property professionals and legal experts to ensure compliance with local laws and regulations.
Frequently asked questions
What are the typical one-off costs when buying property in Cyprus?
One-off costs generally include transfer tax, notary fees, registration fees, and legal fees. These can total around 7% to 15% of the purchase price.
How much should I budget for ongoing annual costs?
Ongoing costs can include annual property tax (approximately 0.1% to 0.2% of property value), utilities, insurance, and community fees if applicable.
Can non-residents get a mortgage in Cyprus?
Yes, non-residents can access mortgages, but they may face different lending criteria, often requiring higher deposit amounts and facing higher interest rates.
Is the property tax the same across Cyprus?
Property tax rates can vary by region, so it’s advisable to consult with a local accountant for the most accurate and current information.
Should I hire a lawyer when buying property in Cyprus?
Yes, it is highly recommended to hire a qualified local lawyer who specialises in property transactions to navigate the legal processes effectively.
This guide is general information, not legal, tax or immigration advice. Rules change — verify the current position with official sources and a qualified professional before acting. Last reviewed June 2026.