buyer's guide
Buying property in Cyprus
What happens between choosing a home and holding the keys: the steps, what it costs on top of the price, and how buying can lead to permanent residence. Written for buyers from abroad.
Why Cyprus
An EU country
Member of the European Union and the eurozone, with property law based on English common law.
English spoken everywhere
Contracts, banks, schools and daily life all work in English, alongside Greek.
No annual property tax
The national immovable property tax was abolished in 2017. Only small local fees remain.
Limassol
The island's business city: international schools, a marina, the seafront, and two airports within an hour.
The steps
Choose and reserve
Once you have chosen a home, a reservation agreement and deposit take it off the market while the contract is prepared.
Appoint an independent lawyer
Your own lawyer checks the title, building permits and any charges on the land, and reviews the contract before you sign.
Sign the sale contract
The contract sets the price, the payment schedule and the delivery date. You can sign in person or through a power of attorney.
Pay stamp duty
Stamp duty is paid on the signed contract, within 30 days of signing.
Deposit the contract at the Land Registry
Depositing the contract protects your right to the property: it cannot be sold to anyone else or used as security without you.
Pay as the building progresses
For a new home, payments are usually staged against construction milestones set out in the contract.
Handover and title deed
You receive the keys on completion. The title deed is then transferred to your name at the Land Registry.
What it costs on top of the price
| Cost | How it works |
|---|---|
| VAT on a new home | 19% standard rate. A reduced 5% rate can apply to a first home that will be your main residence, within size and price limits. |
| Stamp duty | 0.15% on the first €170,000 and 0.20% above, capped at €20,000. |
| Land Registry transfer fees | Not payable when VAT was paid on the purchase, which is the case for new homes bought from a developer. |
| Legal fees | Agreed directly with your lawyer. |
| Every year | No national property tax. Small local authority fees, plus the building's shared costs for apartments. |
Permanent residence through property
Non-EU buyers can apply for permanent residence (Regulation 6(2), the fast-track route) by buying new residential property from a developer.
- Purchase of at least €300,000 plus VAT in new residential property, bought from a developer.
- Secure annual income from abroad of at least €50,000, plus €15,000 for a spouse and €10,000 for each dependent child.
- Covers the applicant, spouse and dependent children.
- The family visits Cyprus at least once every two years to keep the permit.
Common questions
General information as of 2026, not legal or tax advice. Rates, limits and procedures change; confirm every point with an independent Cypriot lawyer before you commit.
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