Property Purchase Guide – Cyprus

Delta Estates provides this information as a courtesy to help clients understand the process of purchasing real estate in Cyprus.
Our goal is to make every step clear and straightforward. Choosing the right partner is key, and working with a licensed, reputable real estate agency ensures a smooth and secure experience.

We also believe that an informed client is a confident client — for that reason, we have created this comprehensive guide to support you throughout your property purchase journey.

1. Property Selection

With our extensive portfolio and deep market knowledge, Delta Estates ensures that you find the perfect property — whether for investment, relocation, or a holiday home — turning your vision into reality.

2. Reservation

To reserve your chosen property, a deposit of 5% (minimum €5,000) is required, valid for approximately four weeks.

Payment Terms:

  • Upon signing the Contract of Sale, a minimum 30% payment is required.

  • The remaining 70% is payable upon delivery or transfer for completed properties.

  • For off-plan properties, stage payments are agreed based on construction milestones.

3. Loan Facilities

Mortgage options are available through various Cypriot banking institutions in Euro or other currencies, typically requiring a minimum 40% initial contribution and offering competitive interest rates.
Our experienced sales team will assist you throughout the loan application process.

4. Legal Representation

While not mandatory, it is strongly recommended to appoint an independent lawyer to handle your property purchase.
Your legal representative will:

  • Conduct due diligence on the property and the developer/seller.

  • Verify ownership and title with the Land Registry Office.

  • Draft, review, and register the Sales Contract.

  • Apply for the reduced VAT rate (5%), if eligible.

  • Supervise the transaction until completion.

Legal Fees:
Typically around 1% of the purchase price.
Additional fees apply for Permanent Residence Permit applications.

5. Contract of Sale

Cyprus follows the British legal system, and property transactions are based on private contracts between buyer and seller.
Contracts are written in English, and official translations can be provided in other languages upon request.

6. Filing the Contract with the Land Registry

Once signed and stamped, a certified copy of the Contract of Sale is filed at the District Land Registry Office by your lawyer.
This step secures your ownership rights until title deeds are issued, allowing you to resell the property (via an Assignment Agreement) even before title issuance.

7. Specific Performance Law

This law protects the buyer’s rights by ensuring that once a sale contract is deposited with the Land Registry, the property cannot be resold or transferred without the buyer’s consent.
It gives the purchaser the legal right to enforce ownership once the title deed is available.
Cyprus’s Land Registry, established in 1858, is considered one of the most efficient systems in the world, making property acquisition safe and straightforward.

8. Stamp Duty

Stamp duty must be paid within 30 days of signing the contract.

  • 0.15% on values up to €170,860

  • 0.20% on values above €170,860

9. Transfer Fees

Transfer fees are payable to the District Land Registry Office upon final registration of ownership.

Property Value Rate Transfer Fee Cumulative Fee
Up to €85,000 3% €2,550 €2,550
€85,001 – €170,000 5% €4,250 €6,800
Over €170,000 8% – –

  • No transfer fees apply to properties on which VAT has been paid.

  • For all other cases, a 50% reduction applies.

🔗 Transfer Fee Calculator – Department of Lands & Surveys

10. VAT on Property

  • New properties: VAT at 19%.

  • Primary residence: Reduced VAT of 5% (subject to eligibility).

  • Resale properties and land: VAT exempt.

11. Annual Property Taxes & Fees

Refuse Collection Fee
€100–€200 per year, depending on property type and municipality, covering local services such as refuse collection and street lighting.

Municipality Property Tax
0.1%–0.2% of the property’s 2018 market value (approximately €150/year for a €300,000 home).

Sewerage Tax
0.04%–0.3% of property value (around €250/year for a €300,000 home).

Capital Gains Tax
20% on profit from property disposal.

Immovable Property Tax
Abolished as of January 1, 2017.

Inheritance Tax
Abolished in 2001.

Important Notice

Delta Estates provides this guide for general informational purposes only.
It does not constitute legal, financial, or tax advice.
We recommend consulting an independent lawyer or financial advisor before making any property purchase decision in Cyprus.