What are the fees involved with buying property in Cyprus?
Fees invovled are a small stamp duty charge, the amount of which is calculated on the purchase price. If the property has title deeds, then you will need to pay the transfer fees to have the deeds transferred into your name(s). The fees to be paid are calculated on the purchase price, and the number of names the property is to be registered in. When you take possession of the property you will have connection fees for the utilities – electricity, water and telephone. You need also to allow for lawyer’s fees, which are usually around 1% of the purchase price. There is no agent fee paid by the buyer. Stamp duty is calcuated as follows: €2.56 per €1.708.60 euro for the first €170.860.00 and €3.417 per €1.708.60 euro for any amount above the €170.860.00.
