+44%

increase in no. of properties sold to foreigners in H1 2017 compared to H1 2016

Real estate market in Cyprus

Cyprus has always been a magnet to foreign homebuyers due to its plethora of business and lifestyle advantages. Over the past few years the real estate market has seen significant growth.

This has been fuelled by a number of factors including the introduction of non-domicile status, additional tax incentives, the relocation of high-level staff to ensure substance, the highly attractive immigration programs and of course early investors that recognise the islands significant growth potential. Real estate transactions have been consistently and considerably rising for the past four years, as reflected in the figures below.

Property Transactions
Properties with a value €1.5 M
92%
transactions in Pafos/Limassol
59%
transactions H1 2017 vs to H1 2016
Investment benefits
Zero
Inheritance Tax
Zero
Immovable Property Tax
Zero
Transfer Fee (if subject to VAT )
5%
Vat Incentive (On first Property)