How much does it really cost to buy property in Cyprus?

The price of an apartment or house is just the beginning of the expenses associated with purchasing real estate in Cyprus. The amount agreed upon with the seller includes legal services, transfer fees, and administrative costs.

For a property worth 300,000 euros, the additional expenses may amount to approximately 12–13 thousand eurosTherefore, it's worth factoring them into your budget before you start your search.

Lawyer – approximately 1% of the property value

When purchasing property in Cyprus, a lawyer plays a crucial role. Their duties include verifying the title deed, verifying any mortgages and other encumbrances, preparing documents, and handling some of the Land Registry formalities.

The cost of such a service is usually approximately 1% of the property value plus 19% VAT.

For a purchase of 300,000 euros, this means an expense of approximately 3,570 euros gross.

Transfer fees can be much higher

Another significant cost is transfer fees, i.e. fees related to the transfer of ownership.

VAT is typically not levied on new properties subject to VAT. The situation is different when purchasing on the secondary market.

For a property worth €300,000, the transfer fee is €17,200. However, on the secondary market, a 50% discount applies, so in this example, the actual cost drops to 8600 euro.

The number of owners can also be a factor. If two people are buying a property, fees are calculated separately for each buyer. In this example, this can reduce the total cost to approximately 5800 euro after applying the discount.

Stamp duty – an important change from 2026

From January 1, 2026 Stamp duty on new contracts has been abolished.

For contracts concluded before the end of 2025, rates ranging from 0.15 to 0.20 percent of the property value were applicable. This expense no longer needs to be included in new transactions.

Smaller costs also add up

Administrative and technical costs must also be added to the basic expenses.

These may include, among others, registering documents, obtaining copies of maps and plans, translations, and formalities related to the transfer of utilities.

In total, it is worth preparing approximately for this purpose 300–800 euro.

Property for 300,000 euros – how much extra preparation is required?

When purchasing a property on the secondary market worth €300,000, you need to take into account:

• approximately 3,570 euros for legal services,
• approximately 8,600 euros in transfer fees after applying a 50% discount,
• approximately 300–800 euros in other administrative costs.

In practice, this gives approximately 12–13 thousand euros in additional costs over and above the price of the property itselfHowever, the final amount will depend on the specific transaction and purchase method.

What to remember before buying?

The price shown in the ad doesn't reflect the total purchase cost. Therefore, before signing a contract, it's worth carefully calculating all additional expenses and leaving an appropriate margin in your budget.

It is also important to use an independent lawyer and thoroughly check the legal status of the property before finalizing the transaction.

Frequently asked questions

Do transfer fees always have to be paid?

No. Transfer fees are not usually charged when purchasing a new property subject to VAT.

Can buying a property for two people reduce fees?

Yes. Because transfer fees are calculated separately for each buyer, a joint purchase may affect the final fee.

Is stamp duty payable in 2026?

Not for new contracts concluded from 1 January 2026.