Buying Guide Cyprus

Cyprus is a popular Island for holidaymakers virtually all year round, basking in Mediterranean temperatures with very little rain it is the ideal holiday getaway, so you can expect a reasonable income from renting out your home. Many of the developers offer ‘In House’ services which can also include a property maintenance service. With regard to rentals,…

The annual immovable property tax imposed by the government is approx CY£60 – CY£120 per year. the municipal authorities also levy an annual tax of CY£20 to CY£40 sewerage tax. This is paid directly to the government annually. Common expenses are usually paid monthly or quarterly in advance. They vary from development to development and…

Tax benefits. Non-Cypriot individuals residing in Cyprus pay income tax at a flat rate of 5%. This applies to the amounts remitted to Cyprus from pensions or income from overseas investments. The first CY£2,000 per annum are exempt, if you are retired. Personal effect, household goods and furniture may be imported duty free by immigrant…

There are certain legal procedures that have to be carried out when purchasing a property in Cyprus, however you should have a Lawyer who will act on your behalf and deal with all aspects of the purchase. At present you currently need permission to purchase a property and this must be obtained from the Council…

Financial obligations. It is important to have your finances in place or agreed in principle. Our associates in Cyprus offer independent financial advice and will assist or advise you of all the options available. Various finance options are available: Cash purchase Cash from equity release or a re-mortgage of U.K. property Part cash with the…

All of the properties we sell in Cyprus are freehold. If you are purchasing on a new development, the price will have been set by the developer. Regardless of commissions you should  still pay the same price whoever you purchase through, whether you go direct or through a third party. Don’t forget to read about Pioneer…