Selling property in Cyprus can be financially rewarding, but it’s essential to understand the full range of costs involved so you can accurately calculate your net proceeds and avoid surprises.
Start the guideGoal: Understand the commission structure before listing your property.
Estate agent commissions in Cyprus typically range from 3% to 5% of the final sale price.
This fee usually covers marketing, viewings, negotiations, and general handling of the sale process.
Fees may vary depending on location, with high-demand areas like Limassol or Paphos often leaning toward the higher end.
Goal: Ensure proper legal handling of the transaction.
Hiring a lawyer is strongly recommended and often essential.
Legal fees generally range from 1% to 1.5% of the property value, or sometimes a fixed fee up to around €2,500.
These fees cover contract drafting, due diligence, Land Registry procedures, and tax submissions.
Goal: Understand how profit from the sale is taxed.
CGT is charged at 20% on the profit from the sale.
Profit is calculated as the selling price minus the original purchase price and allowable deductions such as transfer fees, documented improvements, and registered agent fees.
Available exemptions include:
Goal: Prepare for the mandatory state levy introduced in 2022.
Since 2022, sellers must pay a 0.4% levy on the sale price.
This levy supports housing for displaced Cypriot refugees.
Goal: Ensure compliance with property sale requirements.
Most property sales require an Energy Performance Certificate (EPC).
Costs vary but are typically modest and deductible for CGT purposes.
Goal: Complete the required administrative checks.
Small administrative fees apply for title searches and document checks.
These checks are necessary before completing the sale.
Goal: Clear all obligations before transfer.
Before transfer, sellers must settle all outstanding obligations.
Goal: Account for extra costs that may apply in certain situations.
Some additional expenses may arise depending on your circumstances.
The main costs sellers should prepare for before completing a property sale.
Deductible for CGT if agent is registered
Covers full conveyancing process
Exemptions up to €85,430 possible
Mandatory since 2022
Required for most sales
Land Registry, certificates, searches
Must be cleared before transfer
Knowing your real selling costs helps you calculate accurate net proceeds.
Understanding all fees, taxes, levies, and legal costs before listing your property allows you to avoid unexpected expenses and make better financial decisions throughout the selling process.
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