Property Purchase Cyprus-Style

If you're looking at international property for sale in Cyprus, you need to be aware what is involved in the buying process.

It is quite straightforward to purchase a property in Cyprus, it can be done through an agent or developer, or a partnership of both. Agents charge the buyer a commission of 5%, although an extra 3% may be charged if a developer is also involved.

Buying Cyprus property

These are the steps you follow when purchasing property:

• Title Deed authenticity is checked and authorised by a solicitor


• a Contract of Sale along with other special conditions is created, requiring you to pay a 10% cash deposit to vendor


• if you are returning home, it is good to give Power of Attorney to your solicitor who can then act in your absence if needed


• your solicitor applies for a Purchase Permit to the Council of Ministers


• the Land Registry assesses the property for the 6% Stamp Duty evaluation and 1% Municipality Tax


• on completion day, the solicitor pays the remainder of sale price to vendor


• the vendor signs the title deed into the purchaser's name


• the purchaser's name is entered into the Land Registry Office's records and the new Title Deed is issued.

So do seriously consider Cyprus as an overseas property proposition. There's plenty of villa, townhouse, rural house or apartment options on offer in beautiful Cyprus.

Note that when your property is signed and authorised, you have to send it to the Land Registry within 2 months along with stamp duty payment. This makes sure that the property is not sold to other parties before approval is given.