Properties have title deeds. The title deeds are transferred to the buyer's name as soon as they are issued by the Land Registry Department and following the settlement of the agreed selling price, and the Council of Ministers approved.
go to top
|
|
The Property Transfer Fees are payable ONCE only to the Land Registry Office according to the following scale:
| Value of Property in Euros |
|
Transfer fee Rate |
| Up to € 85,430 |
|
3% |
| From € 85,431 - € 170,860 |
|
5% |
| Over - € 170,860 |
|
8% |
| For example: |
|
|
| Purchase price in Euros € 200,000 |
| 1st € 85,430 |
|
3% = € 2,563 |
| 2nd € 85,430 |
|
5% = € 4,272 |
| 3rd € 29,140 |
|
8% = € 2,331 |
| TOTAL |
|
€ 9,165 |
However, if the property is purchased jointly by a couple (as is often the case) the property purchase price is split equally into two parts and then taxed, which is beneficial to the purchasers as the following example shows:
| For example: |
|
|
| Purchase price in Euros € 200,000 |
| 1st € 85,430 |
|
3% = € 2,563 x 2 = € 5,126 |
| Balance € 14,570 |
|
5% = € 728 x 2 = € 1,457 |
| TOTAL |
|
€ 6,583 |
|
|
Saving: € 2,582 |
Immovable Property Tax: The registered owner of the property is liable for this annual tax which is based on the value of the property.
| Value € |
Annual Tax [Euros per Thousand (%)] |
| up to € 170,860 |
exempt |
| € 170,861 - € 427,150 |
2.5 |
| € 427,151 - € 854,301 |
3.5 |
| over € 854,301 |
4.0 |
For more information on taxes please see our Useful Information page
go to top
|
Communal expenses vary from apartment to private villa starting from € 700 per year for a project with communal swimming pool and gardens.
go to top
|
|
The medical care system in Cyprus is very inexpensive. A doctor's visit costs about € 20 - € 35 and X-rays from € 25. Inexpensive Private Medical Insurance is also available.
Hospital treatment is free for EU citizens, provided that they have the appropriate documentation from their home countries. There are EU terms and conditions best reviewed through your national medical agencies.
Cyprus residents, whether Cypriots or not, can have private medical insurance starting from €225 pa. Even though inexpensive, health care on the island is of a very high standard, the majority of the doctors being trained in the E.U. and the U.S.A.
Major credit cards, such as Visa and MasterCard are widely used. Transactions and payments are simply made through your foreign deposit account.
go to top
|
The cost of living in Cyprus is low compared to many other European destinations.
go to top
|
Leptos prices start from around € 95,000 and upwards depending upon your requirements. Easy terms of payments and long-term in-house finance schemes are also available.
go to top
|
There are two International Airports in Cyprus with one just 10 minutes from Paphos and the other being in Larnaca. Leptos Estates can put you in touch with a number of overseas specialists and assist you with all formalities and customs clearance. For more information on flights click here.
go to top
|
Cyprus is a small island with a limited supply of land and properties. As a result, real estate has been the traditional safe investment. With Cyprus’ accession to the E.U., demand has continued to grow as not only do EU citizens purchase property for holiday and retirement but now also for permanent residence. Many E.U. citizens are now deciding to both live and work in Cyprus.
go to top
|
|
Compared to many countries buying property in Cyprus is very easy. If you are of Cypriot origin or you are an EU citizen, there are no restrictions regarding the amount of property you can purchase.
A non-EU citizen is entitled to FREEHOLD ownership of a villa, apartment, or a piece of land of up to 4,000 sq.m. Offshore entities may also acquire premises for their business or for residence of their foreign employees.
Leptos Estates legal department will guide you through the whole process.
go to top
|
|
This permit is easily obtained for persons living in Cyprus and have purchased property. The granting of the permit is also based upon the level of foreign income available to support oneself and this refers to pensions and income from investments.
Leptos Estates will assist you with all these simple formalities. EU citizens enjoy their full rights as Europeans in Cyprus and do not need to acquire a residence permit.
go to top
|
Yes, Leptos has a huge choice of resale or ready properties for sale for you to choose from.
go to top
|
We have many developments near the beach, on the shores and further in-land. Please contact us for a list of properties available.
go to top
|
|
LEPTOS is a name synonymous to quality. Established in 1961, the Group has maintained through the years a reputation unmatched by others.
Royal Palaces, Village resorts, hotels and thousands of houses and apartments in the Eastern Mediterranean and the Middle East are evidence of the vast experience of THE LEPTOS GROUP in property development, construction, tourism and the service industry.
No matter how large we have become, at Leptos we have made a sincere and irrevocable commitment that we never forget - not for a single minute - that we exist to serve you as an individual.
go to top
|
We at the Leptos Group pride ourselves on our after-sales services, with our vast in-house property management team you will never be left alone. We will always be with you assuring you of our undivided attention.
go to top
|