Cyprus Property Forum for Buyers, Sellers & Investors

Hi,

I’m new here. Looking to buy a property in Limassol district with title deeds of approximately 600,000 eur purchase price.

Trying to work out costs associate like stamp duty and other property taxes, solicitor , surveys etc. There is no mortgage involved.

Any help much appreciated.
Thanks

Hi Cieffi and welcome to the forum

I'm pleased to hear you're restricting your search to properties with their all-important Title Deed.

As for costs:

Stamp duty on a contract of €600,000 would be €1,200 (€2.00 for every €1,000)

Property Transfer Fees based on a €600,000 sales price would be €20,600. If the property was purchased in joint names, the Fees would be €17,200.

Regarding lawyer's fees and the cost of surveys, you need to get competitive quotes. As well as drawing up the contract, the lawyer needs to check that:

The person who's selling the property owns it.
There are unpaid debts and other claims on the property that will prevent you owning the property.
Any extensions and additions to the property have been issued with the necessary permits.

You can find a list of lawyers issued by the Foreign, Commonwealth & Development Office at https://www.gov.uk/government/publicati ... -of-cyprus (Louise Zambartas who is doing some work for me as we speak is on the list.)


There's a civil engineer I know who lives in Pyrgos near Limassol who can check out the property. I'll send you his contact details.

Regards,

Nigel,

Unless it has changed recently, your comment: Stamp duty on a contract of €600,000 would be €1,200 (€2.00 for every €1,000)

It was the first 5000 was free then it was 1.5 euro per 1000. So, of 595 x 1.5 = 892.50.

Everything else you said is as is.

Please correct me if I am wrong.

Hi Pan

I think we both got it wrong. The PwC Tax Guide for 2022 has the following:

On the first €5,000 - 0%
€5,001 to € 170,000 - €1.50/thousand
Over € 170,000 – €2.00/thousand

I hope Cieffi has a calculator.

Cheers,

Thanks all.

found this, in line with your suggestions +/-

https://www.buysellcyprus.com/property- ... calculator

Best,
Cieffi

Nigel Howarth wrote: 22 Apr 2022 18:57 Hi Pan

I think we both got it wrong. The PwC Tax Guide for 2022 has the following:

On the first €5,000 - 0%
€5,001 to € 170,000 - €1.50/thousand
Over € 170,000 – €2.00/thousand

I hope Cieffi has a calculator.

Cheers,

Well you learn something new every day! :)