Cyprus Property FAQ — Buying, Costs, Taxes & Residency

Question 1

Can foreigners buy property in Cyprus?

Accepted Answer

Yes. EU citizens buy on the same terms as Cypriots with no restrictions. Non-EU buyers may purchase property freely but need Council of Ministers approval, which is a formality processed after the contract is signed and is granted in most cases. Non-EU buyers are generally limited to one residential property or a plot of up to 4,014 m².

Question 2

What are the total costs of buying a property in Cyprus?

Accepted Answer

Budget roughly 6–10% of the purchase price on top of the price itself. The main items are transfer fees (3%–8%, halved in many resale cases and not payable where VAT applies), legal fees (typically 1% plus VAT), and VAT on new-build property (19%, reduced to 5% on the first 130 m² of a primary residence up to €350,000, subject to conditions). Stamp duty was abolished from 1 January 2026 and is no longer payable.

Question 3

How much VAT is charged on new property in Cyprus?

Accepted Answer

New-build property carries 19% VAT. A reduced 5% rate applies to the first 130 m² of buildable area of a first and primary residence, for property value up to €350,000, where the total transaction does not exceed €475,000 and total area does not exceed 190 m². Resale property is exempt from VAT but subject to transfer fees.

Question 4

How long does it take to buy a property in Cyprus?

Accepted Answer

A straightforward purchase takes about 4 to 8 weeks from accepted offer to signed contract and deposit of the contract at the Land Registry. Off-plan purchases follow the developer's construction schedule, and title deed issuance can follow later. Depositing the contract at the Land Registry within the statutory period protects the buyer's rights against the seller.

Question 5

How much do I need to invest for Cyprus permanent residency?

Accepted Answer

€300,000 plus VAT in new residential property (or in commercial property, offices, shops or hotels) under Regulation 6(2), together with a secured annual income from abroad of at least €50,000, increased for a spouse and each dependent child. The permit is for life, covers spouse and dependent children up to 25, and requires a visit to Cyprus once every two years.

Question 6

What rental yields do Cyprus properties achieve?

Accepted Answer

Long-term residential yields in Cyprus typically run between 4% and 6% gross, with Limassol at the lower end due to higher capital values and Larnaca, Paphos and Nicosia often at the higher end. Short-term holiday lets in coastal Paphos, Protaras and Ayia Napa can exceed these figures seasonally but carry higher running costs and licensing requirements.

Question 7

What is the cheapest city to buy property in Cyprus?

Accepted Answer

Paphos and Larnaca are the most accessible coastal markets, with entry-level apartments starting from around €175,000, while Nicosia offers value inland. Limassol is consistently the most expensive market in Cyprus, driven by the marina district, seafront towers and corporate relocation demand.

Question 8

What is a title deed and why does it matter in Cyprus?

Accepted Answer

The title deed is the Land Registry document proving ownership. On off-plan and some older properties, the separate deed may not yet be issued at completion. A buyer is protected in the meantime by depositing the sale contract at the Land Registry under the Sale of Property (Specific Performance) Law, which prevents the seller from transferring or encumbering the property.

Question 9

Are there annual property taxes in Cyprus?

Accepted Answer

The national immovable property tax was abolished in 2017. Owners pay municipal or community rates (typically €50–€300 a year depending on location and size), sewerage board charges based on the assessed value, and where relevant communal service charges. There is no inheritance tax, wealth tax or gift tax in Cyprus.

Question 10

Do I need to be in Cyprus to complete a purchase?

Accepted Answer

No. A purchase can be completed remotely through a Cyprus lawyer holding a power of attorney, covering contract signing, Land Registry deposit, tax registration and, for non-EU buyers, the Council of Ministers application. Most of our international clients complete after one viewing trip, or entirely remotely with video viewings.

Question 11

Which areas of Cyprus does Lextrus cover?

Accepted Answer

Lextrus is a licensed Cyprus brokerage covering Limassol, Paphos, Larnaca, Nicosia and Famagusta (including Ayia Napa and Protaras), across residential resale, new developments, luxury and seafront homes, commercial and investment assets, and land. Offices are in Limassol and Larnaca.

Question 12

Does Lextrus charge buyers a fee?

Accepted Answer

No. Buyer representation is free of charge — commission is paid by the seller or developer, so the price a buyer pays is the same whether they use Lextrus or approach the seller directly. Advisory services such as residency structuring are quoted separately and only when requested.

Συχνές ερωτήσεις για ακίνητα στην Κύπρο

Μπορούν οι αλλοδαποί να αγοράσουν ακίνητο στην Κύπρο;

Ποιο είναι το συνολικό κόστος αγοράς ακινήτου στην Κύπρο;

Πόσος ΦΠΑ επιβάλλεται σε νέα ακίνητα στην Κύπρο;

Πόσο χρόνο χρειάζεται για να αγοράσετε ακίνητο στην Κύπρο;

Πόσο πρέπει να επενδύσω για τη μόνιμη διαμονή στην Κύπρο;

Ποιες αποδόσεις ενοικίασης επιτυγχάνουν τα ακίνητα στην Κύπρο;

Ποια είναι η φθηνότερη πόλη για αγορά ακινήτου στην Κύπρο;

Τι είναι ο τίτλος ιδιοκτησίας και γιατί είναι σημαντικός στην Κύπρο;

Υπάρχουν ετήσιοι φόροι ακίνητης περιουσίας στην Κύπρο;

Χρειάζεται να βρίσκομαι στην Κύπρο για να ολοκληρώσω μια αγορά;

Ποιες περιοχές της Κύπρου καλύπτει η Lextrus;

Χρεώνει η Lextrus τους αγοραστές;

Έχετε ακόμη μια ερώτηση;