If the house is a resale then the title deed of the acquired property can be transferred immediately, if the agreement is signed and full payment has taken place. Purchasers of a property under construction, or just completed or part of a project must allow about 1-2 years following completion, for the title deeds to be issued and thus the above mentioned process should be followed.
The stamp duties payable by Purchaser on contracts are 0.15% of the value of the property up to €170.860 and 0.20% for over €170.861. The contract should be stamped within a period of thirty (30) days from signing of Agreement.
The property transfer fees are payable to the Land Registry and are calculated to the property's market value:
Value of Property € Transfer fee Rate
Up to 85.430 3%
From 85.431 - 170.860 5%
Over 170.860 8%
Please note that if the property is bought in two names, the allowances are doubled.
PLEASE NOTE: At the present time, to encourage property sales here in Cyprus, the Government has introduced an incentives for buyers of property here in Cyprus.
Transfer Fees; There is currently a 50% discount for any buyer of Cyprus property at the present time.