Estimate your total costs for buying property in Cyprus. Updated for regulations.
Enter the total internal covered area of the property.
Required for eligibility for the reduced 5% VAT rate.
Select if buying alone or jointly. Affects Transfer Fees on resale properties.
Typically 1-1.5% of the purchase price, or a fixed fee. Consult your lawyer.
Cyprus Property Purchase Costs Summary ():
Transfer Fees: [Resale Property] Calculated at 3% on the first €85,000, 5% on the next €85,000, and 8% on the excess. A 50% discount applies. Fees are lower for joint purchases. Waived if VAT is paid.
Stamp Duty: 0% on first €5,000, 0.15% up to €170,000, 0.2% above €170,000. Capped at €20,000.
VAT: [New Property] Standard 19% on new properties. A reduced 5% rate applies to the first 130m² of a primary residence (total size ≤ 200m², value ≤ €475,000).
Legal Fees: Variable, consult a professional.
Disclaimer (Updated for Regulations): This calculator provides an estimation for illustrative purposes only. Actual costs may vary due to changes in legislation, property-specific conditions, or additional fees (e.g., mortgage costs, surveyor fees).
Important Notes on Taxes:
The reduced 5% VAT rate is strictly for a primary, permanent residence, subject to size (≤200m²) and value (≤€475,000) limits. Any area over 130m² is taxed at 19%.
Transfer fees are based on the property's assessed market value by the Land Registry. A 50% discount applies to resale properties. Buying jointly reduces the total fee.
This calculator does not account for ongoing property taxes (e.g., municipal fees) or capital gains tax upon a future sale.
Always consult a qualified, independent lawyer and tax advisor in Cyprus for personalized and definitive advice before making any purchase.
