Purchasing real estate property in Cyprus? Find out what actions you have to take to avoid unpleasant surprises!

You have finally made the decision to buy your dream house in Cyprus. You have found the right property, made your offer and the seller has accepted it. For many purchasers, the legal aspect of purchasing real estate property can become quite confusing. In this article, we provide you with a brief description of the steps you have to take when purchasing real estate property in Cyprus. Step No. 1 – Title Deed - Search Certificate Before executing any sale purchase agreement and/or reservation agreement, you should make sure that the property is covered by a title deed and is free of...

07 September

Sticky

Reduction of the Taxation on Real Estate

Posted by Lydia Menelaou

in Real Estate

On the 14th of July 2016, the Parliament, passed by majority a bill, which provides that the imposed taxation on real estate for the year 2016 will be 25% of the taxable amount resulting from the applicable tax rates on the value of the real estate as on the 1st of January 1980. That means that, the citizens, should pay 25% of the tax they’ve paid last year. The discount, however, at the rate of 75%, applies only under the condition that the taxpayer will pay the real estate’s tax at the rate of 25%, until the 31st of October...