Real Estate in Cyprus for Sale

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Being able to rely on a well-established licensed real estate business with a good reputation is an important component in choosing the proper decision. We also feel that the best client is one who is well-informed.

Purchasing real estate in Cyprus is a simple process.

With our diverse portfolio of properties and extensive market knowledge, we are confident in our ability to provide you with the greatest solutions for making your ideas a reality.

Are You Thinking Of Buying Something?


With our diverse portfolio of properties and extensive market knowledge, we are confident in our ability to provide you with the greatest solutions for making your ideas a reality.


Cyprus' legal system is modeled on that of the United Kingdom. The contract you sign when buying a house is a private agreement between you and the seller.


Mortgages are accessible in Euro or any other currency from a variety of banking institutions in Cyprus, with a minimum 40% initial investment and reasonable interest rates.


Cyprus has risen to become one of the EU’s fastest-growing economies in recent years, combining a secure economic environment with a forward-thinking infrastructure.
The island continues to attract increasing numbers of foreign investors seeking to establish their operational presence in Cyprus, as it is recognized as an international hub of excellence for business and financial operations. This is due to the island’s simple procedures for opening and operating companies.

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How to Purchase Real property in Cyprus(Part 2)

Carry on with the steps 

Purchase a property in Cyprus 

The procedure for buying a property in Cyprus is similar to that in the United Kingdom, with a few nuances to be aware of. Like a result, just as you would in the UK when buying a property, you must retain the services of a renowned, independent solicitor.

  • Permission to purchase a property must be obtained through a written application to the Council of Ministers. For British nationals, this authority is granted as a matter of course. If you buy a new home from a developer, they will usually apply for clearance on your behalf if you ask.
  • It is customary to pay a deposit (up to roughly €2,500) when you find a property you want to purchase. After then, a contract is drawn up. When the buyer signs it, he or she pays a 10% deposit on the agreed-upon price, or 21-30% in the event of a new build property.
  • Your legal representative should complete the transfer of ownership on your behalf. In order for new properties to be legally permitted for habitation, the authorities must conduct an independent inspection, after which a Final Completion Certificate is provided. Only when this is completed can the property’s title deeds be issued, and it is strongly advised that you keep the title deeds for the property yourself.

Take care of the property’s expenses, fees, and taxes

 When buying property in Cyprus, a number of fees and taxes must be paid. These typically equal to 6 to 7% of the purchase price and include the following:

On the purchase of a new or resale property, transfer costs are 3% on the first €60,000, 5% on €60,000-€120,000, and 8% on amounts over that.

  • Up to the value of €120,000, stamp duty is 0.15 percent of the purchase price, then 0.20 percent for every extra €1,200.
  • Only new construction properties are subject to VAT (at a rate of 15%).
  • The application fee to the Council of Ministers is €180.
  • Allow 1% of the purchase price for legal fees.
  • Fee for a surveyor (optional)
  • The cost of a mortgage (if applicable)
  • Costs of foreign exchange (if applicable)

Get a mortgage to help you buy a property in Cyprus

Buyers who require financing can choose between remortgaging their UK home and releasing equity, or establishing a mortgage on the Cyprus property. Remortgaging is frequently the preferred approach for buyers because releasing equity in a UK property allows for the purchase of a second house for cash, essentially eliminating the requirement for a second mortgage. Remortgaging may not be a feasible or practical choice for everyone in Cyprus, however, due to growing property prices:

  • Euro mortgages are now accessible on the island of Cyprus, which has completely adopted the European currency. Many purchasers, particularly those who live on the island and receive their UK pension in local currency, will find a euro mortgage appealing.

You must pay taxes

Cyprus has a tax system that is comparable to that of the United Kingdom. The two nations have a double taxation agreement, which means that tax is paid in one of the two countries, not both, and usually in the country with the higher rate.

  1. Non-residents’ personal taxation
  2. Non-residents are only taxed on their income earned in Cyprus. This includes rental income, which is subject to progressive property rates of up to 30% depending on the amount. Depending on the conditions, non-residents may be subject to capital gains tax (CGT) on the profit from the sale of a property. The gain on property sales is subject to CGT at a rate of 20%, with the first €12,000 of the gain being excluded. Those who purchased property before January 1, 1980 are also free from paying capital gains tax.
  3. There is no gift tax or inheritance tax in Cyprus, for both non-residents and residents.
  4. Residents – A foreign individual who stays in Cyprus for more than 183 days during a tax year (1 January to 31 December) is deemed a resident for tax purposes. It is not necessary for the 183 days to be consecutive.
  5. On international income, residents of Cyprus are subject to progressive taxation.
  6. Amounts up to €12,000 are tax-free. Income between €12,000 and €24,000 is taxed at rates ranging from 20% to 25%. On earnings of more than €24,000, the highest rate is 30%.
  7. Other taxes apply to residents of Cyprus, including a payment for ‘passive’ income, such as rental income. Most commodities are subject to a 15% VAT rate; however, some products, mostly food and agricultural products, are subject to a reduced rate of 5% VAT.
  8. Local taxes – Depending on the value of the property, the annual Immovable Property Ownership Tax ranges from €60 to €180 sterling. Municipal authorities may also levy an annual tax of €24-€36, as well as a sewage tax of €24-€48. Tax advantages Personal things, such as household goods and furniture, are allowed to be imported by immigrant retirees if they are for personal use and have been used (i.e. are not brand new). Furthermore, no duty is levied on the importation of an automobile, and immigrants over the age of 65 are exempt from paying duty on two cars.

Be aware of the monetary system

On January 1, 2008, Cyprus adopted the Euro as its official currency, bringing it in step with the rest of Europe and making Euro mortgages the norm on the island.

  • In bigger cities and tourist resorts, banks, bureaux de change, and ATMs are available. Monday through Friday, 8:30 a.m. to 12:30 p.m., as well as 3:15 p.m. to 4:45 p.m. on Mondays.
  • Major credit cards, as well as travelers’ checks, are generally accepted. To avoid further currency rate charges, it is best to carry the latter in pounds sterling or US dollars.

Obtain all required passports, visas, and residency permits

  • Passports and visas – British citizens must have a passport that is valid for the duration of their stay in Cyprus. It is not necessary to obtain a visa.
  • Residency – EU residents (including British nationals) are not required to have a residence permit in Cyprus. They can, however, be used as formal proof of residence in some instances (for example, when applying for a driver’s license or for tax purposes). A resident permit is available to non-Cypriots who own property in Cyprus. One will be given without trouble if he can demonstrate that he and his family are self-sufficient.

Become acquainted with the many modes of communication accessible

  • Telephone – Telephone service in Cyprus is generally excellent, both for landlines and mobile phones. In most towns and post offices, public telephones are available. Cash and phone cards, which can be purchased at retail stores and post offices, can be used to make calls. +357 is the national dialing code.
  • Internet connectivity is available in Cyprus via dial-up service, cable modem, dedicated lines, and DSL. Broadband is becoming more commonly available in both the home and the workplace. The country code for Cyprus

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How to Purchase Real property in Cyprus(Part 1)

Cyprus has a pleasant climate throughout the year, and its people are friendly to the British as a result of the two countries’ long-standing strong relations. It is especially appealing to seniors because of its favorable tax policies.

Note: This paper solely addresses property buying issues in the Republic of Cyprus. The Turkish-occupied part of the island (officially known as the Turkish Republic of Northern Cyprus – TRNC) is not recognized as a legal territory by the international community. As a result, we do not recommend investing in real property there. Keep in mind that if the political climate changes, your home may be in jeopardy.


Consider the cost of buying a property in Cyprus

 The island’s 2004 EU membership resulted in better infrastructure, communications, and services, especially in the medical and educational fields. Its adoption of the Euro on January 1, 2008, solidified its position as a modern republic that welcomes visitors of all ethnicities.

Cyprus’ property prices have grown by as much as 80% in the last five years, but they still represent good value when compared to other, more established markets such as Portugal, Spain, and Italy, especially for new build property, which makes up the majority of the island’s housing stock.

Take a look at the most popular property sites

 This book provides brief explanations of the most popular places for British second home buyers, although it can only serve as a starting point. There are a variety of resources available to assist with further study, including television and radio shows, periodicals, the Internet, and property exhibits, not to mention estate brokers in the UK and Cyprus:

  • Pathos, on the western end of the south coast, Limassol, on the middle south coast, and Larnaca, on the eastern end of the south coast, have traditionally attracted foreign property buyers. In recent years, the relative outliers of Polis in the extreme west and Ayia Napa in the far east of the island have attracted very different crowds.
  • Polis and the surrounding area appeal to the more environmentally conscious individual because to their rural position, whereas Asia Napa has a reputation for the boisterous behavior of a small number of mostly British summertime party-goers. The truth, of course, lies somewhere in the middle of the stated extremes. Ayia Napa, for example, is a peaceful fishing village in the off-season.
  • Paphos – Paphos is undoubtedly the most popular town in Cyprus among second-home buyers from the United Kingdom. It tends to experience the best and worst of the island’s weather due to the prevailing westerly winds, but fortunately, conditions are hot and pleasant for nine months of the year. Paphos is popular with families and a more retired populace than other portions of the island, as it is centered around a waterfront with a strong pedestrian traffic area. Because an international airport is within 20 minutes’ drive from the town center, access is always quick and easy.
  1. Paphos is an archaeological treasure trove, including several ancient kings’ tombs and remarkable mosaics from the period of the Greeks. Modern life concentrates around a thriving restaurant and beach scene, particularly in the famed Coral Bay region, which is only 10 minutes from the town center.
  2. Apartments in the neighborhood start at €120,000, while a house with a view of the sea can cost up to €500,000. Prices have been on an upward trajectory for some years. Plans for a new marina development across the street from Coral Bay indicate that they will continue to rise.
  • Limassol – Though not the capital of Cyprus (Nicosia is the formal and administrative heartbeat), Limassol is the island’s pulse and the yardstick by which all others are measured. Limassol is the most urbanized part of Cyprus. There are the most trendy stores, restaurants, and pubs there, particularly in the old town district, which is hidden behind a section of the several-mile-long drive and promenade that extends eastwards, hugging the beach.
  1. Limassol also has Cyprus’ largest docks, which are located west of the city center. Nearby, plans are in the works to create a new marina to encourage wealthy boat owners to moor in the area, as part of a government effort to portray Cyprus as a more upscale destination. Plans to create several golf courses around the island, including one on the outskirts of Limassol, are based on similar reasoning.
  2. Property for sale will, of course, be a part of the new golf course developments, which will be modeled after the immensely successful and prestigious Aphrodite Hills Golf and Spa resort in Limassol-Paphos. The property benchmark on the island is this hilltop development.
  • Larnaca, Cyprus’ third city and the site of the country’s primary scheduled airline airport, is a coastal town with its supporters on the island’s southeast coast. It has a slower pace than Limassol and is less impacted by the seasons than Paphos, and it has a lesser number of Britons than the west of the island, owing to the fact that most people fly into Larnaca and drive straight to their resort.

  1. The adjacent beaches are some of the best on the island. Because the east coast is sheltered, the sea is calmer and more picture-perfect blue than elsewhere, with golden sand beaches, especially around Paralimni and up to Famagusta. The region is home to a national park, Cape Greco, as well as Ayia Napa, and is truly a place of remarkable contrasts.
  2. Second-homeowners in the region are mostly Cypriots, who are definitely keeping their identity hidden. Property prices are slightly higher on the east coast than on the west coast, owing to the fact that there is less acreage and new build development here than elsewhere on the island.

to be continued…

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Avoid these pitfalls when buying a property in Cyprus

BUYING PROPERTY IN CYPRUS might be fraught with dangers. When buying property, potential buyers should exercise utmost caution, especially if the title deed is not easily available, which is a regular scenario when buying new property in Cyprus.

Many EU and non-EU high-net-worth individuals apply for citizenship or residency in Cyprus under the citizenship-by-investment scheme.

This update details the top ten problems to avoid when buying property in Cyprus, as well as how to make sure that your property acquisition goes successfully.

Failure to retain the services of a real property lawyer

The value of hiring a real property lawyer cannot be overstated. Signing a purchase contract offered by a developer is the most typical mistake people make (an all-too-common occurrence). These contracts are unlikely to safeguard the buyer and are frequently substantially skewed in favor of the developer.

Furthermore, buyers should be aware of lawyers that represent vendors or builders and are thus not impartial. Not appointing a lawyer is the same as not appointing one.

When buying property in Cyprus, the most crucial aspect is to hire a trustworthy lawyer who speaks the buyer’s language and is unaffected by the other parties engaged in the transaction. These possible problems can be avoided with the help of a qualified lawyer. In short, property is a significant investment that should not be made without the assistance of a qualified real property lawyer.

Make certain the property isn’t in the middle of a legal battle over ownership

Property that is to be purchased must not be the subject of an ownership dispute, which is typical in divorce cases. Purchasing property from a respected developer will help you avoid such a situation. This isn’t always the case, especially in recent years, when developers have stepped in to function as a middleman for resale houses (typically for properties which they have developed and sold to clients in the past).

Commissions that are not revealed

The most expensive risk when purchasing property is hidden commissions arranged between an agent or intermediary and the vendor (usually a developer). Commissions might be anywhere from 7% to 52% or more. Such expenditures can be avoided by hiring a respected lawyer who can give the necessary references to potential clients.

Failure to take into account all costs that are relevant

It’s critical to budget for the value-added tax (VAT) (nil, 6%, or 20%), transfer fees, stamp duty, legal costs, disbursements, and immovable property taxes that will be applicable for real estate acquisitions as soon as feasible.

Developers and advisers in Cyprus frequently misunderstand and misrepresent VAT. Property buyers who make uniformed VAT elections frequently find themselves unable to handle their properties as they wish or with hefty VAT liabilities.

Transferring a reservation money without first obtaining formal confirmation of the reservation terms

If a buyer is required to pay a reservation fee to a developer, the buyer should have it confirmed in writing, preferably by a lawyer.

what was the sum of money;

the conditions under which a refund will be given; and

The total cost of the property, which may be decreased in various cases.

Not conducting due diligence before signing a contract of sale

While lawyers are not obligated to perform due diligence on a regular basis, such as a mortgage check, a skilled lawyer should.

A particular performance law was enacted by the government in 2011 to give a contract of sale priority over any pre-existing mortgage; nonetheless, before to purchase, a check should be made to see whether any mortgages have been placed on the land to avoid future problems. Without considering the results of these searches, a contract of sale cannot be effectively drafted.

Additionally, even if developers give official extracts from the Land Registry and other government bodies, consumers should not rely on developers to do due diligence.

Not putting everything down on paper

Purchasers should double-check that all agreed-upon terms, including any agreed-upon extras, are included in the contract of sale. This should contain a list of any repairs or damages that are required.

Failure to make a deposit on the contract of sale

A contract of sale must be filed with the Land Registry within the legal deadline. If this is not done, the buyer will lose key legal rights. Furthermore, a contract of sale must be stamped within the legal deadline, or the buyer would be subject to fines.

Failure to pay attention to property-related material contracts

A property management agreement will be required for many luxury villas and flats, which is a service that many developers offer. This is a significant contract, and care should be taken to ensure that all terms and conditions are understood in order to ensure that the purchaser’s property is maintained and protected throughout any absences from Cyprus.

Making a will without a will is a mistake that many people commit.

All immovable property located in Cyprus is governed by Cyprus Law, which contains a compelled heirship component. Certain types of foreign buyers, however, have the right to circumvent these limitations and create a will that allows them to pass the property along as they see fit. When buying property in Cyprus, buyers should make a will right away.


It’s critical to learn from the mistakes of buyers who acquired property before the financial crisis in countries like Spain, Italy, France, Portugal, Greece, and Cyprus and are still fighting expensive legal fights. Despite this, according to HSBC’s latest research, the property dream is still alive, with millions of Chinese, Russian, British, and high-net-worth individuals considering buying overseas even more than before the financial crisis.

Avoiding these hazards in Cyprus is especially critical when investing in property as part of a citizenship-by-investment application, which normally involves a €2 million to €2.5 million investment.

If the following hazards are examined, the majority of the potential problems faced when buying property in Cyprus can be avoided. Above all, seeking independent legal counsel from a qualified lawyer is critical. All of the other dangers on this list should be avoided by a smart lawyer.

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Cyprus Recovers Overseas Property Sales

As a result of the COVID-19 epidemic, the global property market has had a terrible year, particularly when it comes to international property transactions. However, in 2021, several countries are starting to witness an increase in property demand, notably from overseas buyers.

As a result of travel restrictions and an increase in coronavirus infections across Europe, overseas property transactions in Cyprus decreased significantly in 2020.

Foreign property buyers accounted for 37 percent of total sales in October 2020, up 13% from October 2019. Property sales in Larnaca and Paphos declined by 32% and 7%, respectively; while, sales in Nicosia (88%), Limassol (65%), and Famagusta (80%) increased dramatically (31 percent ).

New property data, on the other hand, shows that abroad property sales in Cyprus are showing indications of revival as the global economy improves. According to statistics, property sales in Cyprus increased significantly in March 2021.

Property demand in Cyprus in 2021

Residential property sales in Cyprus increased by 63 percent in March 2021 compared to the same month the previous year, indicating a considerable improvement in the Cyprus property market.

In terms of domestic sales, the coronavirus crisis has had a significant financial impact on many Cypriots, with many people eager to buy a home but unable to do so due to financial constraints. Domestic property sales grew by 43% year over year in October 2020, with sales increasing in all major districts. Limassol sales surged by 84 percent, while Famagusta sales increased by 76 percent. Paphos, Larnaca, and Nicosia had a 25 percent, 22 percent, and 19 percent increase in transactions, respectively.

Transactions for overseas property acquisitions were down 10% in September 2020 compared to September 2019, accounting for 35% of overall property sales. While this may sound discouraging, when we look at the statistics on a more detailed level, we can see that there were three districts in Cyprus that showed an increase in foreign buyer purchases.

Property sales increased by 24 percent in Limassol, 22 percent in Famagusta, and 21 percent in Larnaca.

Paphos, the most popular area in Cyprus for offshore property purchases, suffered a 35 percent drop.

Sales from EU countries are increasing

According to data from the Department of Lands and Surveys, foreign property sales from EU countries are increasing, while sales from non-EU countries are decreasing.

In September, sales of overseas property by EU nationals accounted for 16 percent of overall sales, a 12 percent increase over September 2019.

Non-EU nationals saw a 23 percent decrease in September 2020 compared to September 2019. Famagusta saw a 66% increase in sales, however this was dwarfed by a 553 percent drop in Nicosia and a 52 percent drop in Paphos.

The property market in Cyprus as a whole

While the status of offshore property transactions remains uncertain, the Cyprus property market appears to be improving overall. In comparison to September of last year, property sales in Cyprus increased by 17% in September of this year. Sales increased by 49 percent in Famagusta, 43 percent in Nicosia, 17 percent in Larnaca, and 6 percent in Limassol.

Property sales in Cyprus declined by 20% this year compared to the previous year, with 14,000 transactions compared to 17,300 in 2019. However, considering the country’s coronavirus restrictions and economic challenges, the figure is not surprising.

Limassol and Paphos were the hardest hit during the epidemic, with sales falling by 33% and 49%, respectively, in comparison to 2019.

The Property Market in Cyprus in the Future

Property sales in Cyprus appear to be trending in the right direction, with the Cyprus property market expected to stay relatively stable in 2021. Although there may be a short-term drop in property prices, this is expected to be a temporary measure, with prices expected to increase by the end of 2021.

Despite being heavily impacted by the coronavirus epidemic, both the UK and US housing markets recovered significantly in 2021. As a result of the pent-up demand, it is expected that the Cyprus property market would follow suit.

However, it is currently impossible to predict whether the recent development would be sustained. The development comes after months of sluggish sales, and the future of the Cyprus property market is uncertain due to the continued repercussions of COVID-19. With the demand for visas now in place for individuals intending to stay in holiday homes for longer than 90 days, post-Brexit uncertainty will likely put further pressure on property sales from foreign buyers.

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Property sales are slowing

According to data provided by the Department of Lands and Surveys, Cyprus property sales continued to rise in July, although at a slower pace than in previous months, with sales to the foreign market leading the way and a minor decline in sales to the domestic market compared to July 2020.

Total revenue

In July, 864 contracts for the acquisition of real estate, including residential, commercial, retail, and land, were lodged at Land Registry offices around the Republic, representing a 5% rise over the June 2020 number of 825. (This compared to a 44% increase in sales in June.)

While four of the island’s districts saw a rise in property sales, sales in Nicosia (the capital) dropped by 2% compared to July 2020.

Quality Home, a developer founded in 1945, is possibly Cyprus’s most well-known luxury property developer. The company is involved in a wide range of residential, leisure, and infrastructural projects across Cyprus. This comprises luxury vacation homes on the beach or in the countryside, high-end golf properties, marina developments, commercial buildings, and luxury residential units and city center apartments. Quality Home Developers is able to provide a comprehensive range of properties in prestigious places such as Aphrodite Hills Golf Resort, Paphos, Latsi, Peyia, Pissouri, Limassol Beachfront, Amathus, Protaras, Larnaca, and Nicosia’s capital. Please browse our website to view our full portfolio.

Total revenues increased by 31% in the first seven months of 2021.

Residential real estate sales

Despite the fact that the number of new loans for home purchases reached a record high of €114 million in June, domestic property sales decreased by 1% in July compared to July 2020.

Although sales increased in Paphos and Famagusta, they decreased in the remaining three districts.

Sales to the domestic market increased by 48 percent in the first seven months of 2021 when compared to the same time previous year.

(However, the statistics will include an unknown number of ‘non-sale’ agreements such as loan restructurings, recoveries, and debt-to-asset swaps negotiated between banks and defaulting borrowers as part of the banks’ efforts to decrease their non-performing loan portfolios. Unfortunately, the Department of Lands and Surveys does not independently publish these statistics.)

International sales

Foreign sales (EU and non-EU nationals) increased by 17% in June compared to June 2020, with sales increasing in all districts except Paphos and Famagusta.

Property sales to the international market increased by 6% in the first seven months of 2021 when compared to the same time previous year.

Foreign sales to European Union nationals

Sales to EU nationals increased by 26% in July compared to June 2020, and are up 46% year on year.

With the exception of Famagusta, where sales dropped by 29%, sales increased in other districts.

Foreign sales to residents of countries other than the EU

Sales to non-EU nationals increased by 7% in July compared to July 2020, but are down 15% year on year.

With the exception of Paphos, where sales dropped by 33%, sales increased in other districts.

Property sales data since 2000 have been analyzed.