Cyprus Property Tax Guide 2026

Transfer Fees (Property Acquisition)

When acquiring immovable property in Cyprus, the buyer pays transfer fees to the Department of Lands and Surveys calculated on a sliding scale:

• 3% — on the first EUR 85,000 of property value
• 5% — on the portion between EUR 85,001 and EUR 170,000
• 8% — on the portion exceeding EUR 170,000

These fees apply to the market value of the property at the time of transfer. First-time homebuyers may qualify for reduced rates or exemptions under specific government schemes. VAT at 19% may also apply to new buildings (first-time sale by developer).

Stamp Duty

Stamp duty is a one-time tax payable on the purchase price of immovable property at the time of acquisition:

• 0.15% — on the first EUR 170,000 of the purchase price
• 0.20% — on the portion exceeding EUR 170,000

Stamp duty is capped at EUR 20,000 and is payable within 30 days of signing the purchase agreement. It is charged on the higher of the purchase price or the market value.

No Annual Immovable Property Tax (IPT)

The annual Immovable Property Tax (IPT) was abolished effective 1 January 2017. Previously, IPT was levied annually on the market value of immovable property at progressive rates up to 1.95%. Its abolition means that owning property in Cyprus incurs no annual wealth-based tax — only the one-time acquisition costs and potential CGT on eventual sale.

Other Property Charges

• Municipal rates: Vary by municipality; typically modest fees for services like refuse collection and street lighting
• Sewerage connection fees: One-time connection charge, varies by area
• Common charges: For apartment buildings and gated communities, covering maintenance of common areas
• Title deed registration: Administrative fee for registering the title deed (approximately EUR 50–150)