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Cyprus
Every figure carries its source and last-checked date.
€2.400
Price per m² (capital)
2.5-6%
Total buying costs
5.1%
Gross rental yield
+30%
5-year price trend
If you want to buy property in Cyprus, you are looking at the cheapest transaction of the twelve countries we compare: total buying costs of just 2.5-6% on top of the purchase price. Stamp duty was abolished for contracts signed from 1 January 2026, transfer fees run at a permanently halved 1.5-4% (and drop to zero on new builds where VAT applies), and legal fees are typically 1-2% plus 19% VAT. There is no notary in the process at all: Cyprus is a common-law jurisdiction, and your lawyer handles the entire conveyance.
The ongoing tax picture is just as friendly for anyone moving to Cyprus. There is no national annual property tax (abolished in 2017), no wealth tax and no inheritance tax (abolished back in 2000). What remains are modest municipal charges for refuse, street lighting and sewerage, typically EUR 100-500 per year in total.
One caveat matters more than any other: everything on this page applies to the Republic of Cyprus, the government-controlled south, only. Property in Northern Cyprus carries major title-deed risk, as much of the land there is legally owned by displaced Greek Cypriots. Buy in the south.
Key facts
| Price per m² (capital) | €2.400 | Investropa market survey, Nicosia (Strovolos) EUR 1,800-3,000/m2, June 2026 |
| Price per m² (coast) | €4.000 | Investropa market survey; Limassol coast EUR 4,500-8,000/m2 (seafront to 12,000), Paphos coast EUR 2,600-6,500/m2, blended midpoint |
| Price per m² (rural) | €1.700 | Investropa market survey, inland villages EUR 1,400-2,200/m2 |
| 5-year price trend | +30% | Central Bank of Cyprus RPPI, cumulative ca. +30% 2020-2025 (Q4 2025: +7.1% y/y, apartments +9.6%) |
| Total buying costs | 2.5-6% | |
| Gross rental yield | 5.1% | Global Property Guide, Cyprus average gross yield 5.09% (Q3 2025); Limassol ca. 6%, Nicosia ca. 5%, Paphos/Larnaca ca. 4% |
| Cost of living (EU = 100) | 89 | Eurostat comparative price level index (tec00120), Cyprus 89.2 in 2025 (2024: 91.6), EU-27 = 100 |
Buying costs
Costs on a €250,000 purchase: €6.250 - €15.000
| Transfer tax | 1.5-4% | Land Registry transfer fees: statutory bands 3/5/8% by value tier, permanent 50% reduction gives effective 1.5/2.5/4%; zero when VAT was paid on the purchase (new builds) |
| Notary | 0-0% | Cyprus is a common-law jurisdiction with no notarial system; the lawyer drafts and lodges the contract |
| Registration | 0-0% | Stamp duty (formerly 0.15-0.20%, capped EUR 17,086) abolished for contracts signed from 1 January 2026; only nominal Land Registry lodging fees remain |
| Legal | 1-2% | Customary conveyancing fee 1-2% of price plus 19% VAT |
Taxes for non-residents
| Annual property tax | No national property tax (Immovable Property Tax abolished 1 January 2017). Only municipal charges remain: refuse, street lighting and sewerage (0.05-0.3% of the 2013 assessed value), typically EUR 100-500 per year in total | Leptos Estates / Cyprus Tax Department guidance on IPT abolition |
| Wealth tax | - | Cyprus levies no wealth tax on residents or non-residents |
| Rental income tax | 20% | Progressive income tax 0-35% on Cyprus-source rent, first EUR 19,500 tax-free, flat 20% expense deduction; 20% is the first taxable band. Plus 2.65% GHS contribution. Special Defence Contribution on rent abolished under the 2026 tax reform |
| Capital gains | 20% | Flat 20% CGT on gains from Cyprus immovable property (and property-rich company shares); lifetime exemptions raised under the 2026 tax reform |
| Inheritance | None. Estate duty was abolished as of 1 January 2000; no inheritance tax for residents or non-residents. Heirs only pay reduced Land Registry transfer fees on the title transfer | Cyprus estate duty abolition (Law 78(I)/2000) |
The buying process
| Can foreigners buy? | Yes, no restrictions | EU citizens buy without restriction; non-EU nationals need Council of Ministers approval under Cap. 109, in practice a formality |
| Mortgage as non-resident | Yes | Cypriot banks lend to non-residents (Bank of Cyprus, Hellenic Bank a.o.); higher deposits and full income documentation required |
| Typical duration | 8-26 weeks | Straightforward cash purchases complete in 6-8 weeks; typical conveyancing runs 3-6 months. Non-EU Cap. 109 permit is applied for in parallel and does not block taking possession |
Residency & golden visa
Golden visa: Fast-track permanent residency (Regulation 6(2)): EUR 300,000 plus VAT in a new-build property from a licensed developer, plus proof of EUR 50,000 secured annual income (EUR 15,000 extra for a spouse, EUR 10,000 per child). Permit is indefinite, processing ca. 6 months. Cyprus citizenship-by-investment was scrapped in November 2020 and remains closed.
The buying process step by step
- 1
Engage a lawyer
Cyprus has no notarial system, so an independent lawyer is not optional extra comfort, it is the person who drafts and lodges your contract. Expect a conveyancing fee of 1-2% of the price plus 19% VAT. Choose a lawyer with no ties to the seller or developer.
- 2
Reserve the property
Once you agree terms, you typically sign a reservation agreement and pay a deposit to take the property off the market while the legal work runs. Your lawyer should review the reservation terms before you sign anything or hand over money.
- 3
Due diligence
Your lawyer searches the Land Registry to confirm the seller holds clean title and checks for mortgages, memos and other encumbrances on the property. This step is where Cyprus purchases are won or lost, especially with new builds where developer debts can sit on the land.
- 4
Sign the contract of sale and lodge it at the Land Registry
The contract is signed and then lodged at the Land Registry, which protects your rights as buyer under Cypriot law until the title deed is transferred. Since 1 January 2026 no stamp duty is due on new contracts; only nominal Land Registry lodging fees remain.
- 5
Non-EU buyers: Council of Ministers permit
Non-EU nationals need approval under Cap. 109, applied for in parallel and routinely granted as a formality. It limits you to one residence, or since 2013 up to two properties, on a maximum of around 4,014 m2 of land. The application does not block you from taking possession. EU citizens skip this step entirely.
- 6
Transfer of title
At completion the Land Registry transfers the title deed into your name. Transfer fees are charged in bands of 3/5/8% by value tier, permanently reduced by 50% to an effective 1.5/2.5/4%, and are zero where VAT was paid on the purchase, as with new builds. A straightforward cash purchase completes in 6-8 weeks; typical conveyancing runs 3-6 months.
Frequently asked questions
Can foreigners buy property in Cyprus?
Yes. EU citizens buy without any restriction, and non-EU nationals only need Council of Ministers approval under Cap. 109, which is routinely granted and in practice a formality. The permit limits non-EU buyers to one residence, or since 2013 up to two properties, on a maximum of around 4,014 m2 of land, and it does not stop you taking possession while it is processed.
What are the total buying costs in Cyprus?
Around 2.5-6% of the purchase price, the lowest of the twelve countries we compare. For resale property that is transfer fees at an effective 1.5-4% (statutory bands halved by a permanent 50% reduction) plus legal fees of 1-2% with 19% VAT. Stamp duty was abolished for contracts signed from 1 January 2026. New builds instead carry 19% VAT, with a reduced 5% rate on the first 130 m2 of a primary residence, but then pay no transfer fees.
Is there an annual property tax in Cyprus?
No, there is no national property tax; the Immovable Property Tax was abolished on 1 January 2017. You only pay municipal charges for refuse, street lighting and sewerage, set at 0.05-0.3% of the 2013 assessed value and typically EUR 100-500 per year in total. Cyprus also levies no wealth tax and no inheritance tax.
Can I get a mortgage in Cyprus as a non-resident?
Yes, Cypriot banks such as Bank of Cyprus and Hellenic Bank lend to non-residents. The regulatory ceiling is 70% loan-to-value for non-primary residences, though many banks cap non-residents at 50-60%, and you will need full income documentation and a higher deposit than local buyers.
How long does buying a property in Cyprus take?
Typically 8-26 weeks. A straightforward cash purchase can complete in 6-8 weeks, while typical conveyancing runs 3-6 months. For non-EU buyers the Council of Ministers permit is applied for in parallel and does not delay you taking possession.
Does buying property in Cyprus give me residency?
It can. Cyprus runs an active fast-track permanent residency route (Regulation 6(2)): invest EUR 300,000 plus VAT in a new-build property from a licensed developer and show a secured annual income of EUR 50,000, plus EUR 15,000 for a spouse and EUR 10,000 per child. The permit is indefinite and processing takes around 6 months. Note that Cyprus citizenship-by-investment was scrapped in November 2020 and remains closed.
Can I rent out my Cyprus property?
Yes, and average gross yields are around 5.1%, with Limassol near 6%. For short lets you must register the property in the Deputy Ministry of Tourism register of self-service accommodation, display the registration number in every listing, and renew the licence every 3 years. Rental income is taxed on a progressive 0-35% scale with the first EUR 19,500 tax-free and a flat 20% expense deduction, plus a 2.65% GHS contribution.