Stamp duty!

Stamp duty is a very small extra cost .. but still has to be accounted for in your financials....

First €5000 are free and stamp duty exempt, From €5001 – €170000 of the purchase price stamp duties are 0.15%, Any amounts over €170000 are calculated at 0.2% (Each extra certified copy of a contract is charged €2.). A purchase of property in Cyprus is completed when the title deed is registered on the buyer

Immovable Property Tax (IPT) is a cost each year again not expensive... Paid to the municipality.

Land Registry charge is another again only low value paid to Land Registry on lodging your contract of sale with them.

Transfer of Title Deeds the very important one .. especially if buying from a developer... make sure you get the deeds and there are no encumbrances or notes attached. Many developers had a habit of taking loans out on "completed" developments they built to finance other developments so be wary ... Also be diligent in making your checks in completion sign off.. as there is also an old habit of completion sign offs being enabled to allow sales to progress even when the project is not actually complete .

Due diligence in all matters is down to you and your hopefully excellent lawyer

@Toon Thanks again

@Incognito2411 I  hope this helps, I am buying a new build property for €257,000 on which I have to pay 5% VAT - giving a total cost of €269,850. My Solicitors fees are €2,000 + VAT a total of €2,380. Land Registry fees and stamp duty are €427. The total cost is €272,657. There is no property transfer tax to be paid on a new build. If it is a resale property the total cost would be slightly less for a property of the same value.

@MacGeorge8035 Thanks Mac

@MacGeorge8035 on the basis of a similar value resale property transfer fees are considerably less according to Buy and Sell Cyprus web pages..... the rest of the costs you quote I would agree with .

@Toon  for a resale they are considerably less.

@MacGeorge8035 Mac is your property in TRNC?

@Incognito2411 George is currently near me in Paphos...or maybe it's was now lol

@Toon

https://www.zyprus.com/help/1260/proper … calculator

@jklondon There's no link Jk

@jklondon There's no link Jk
-@Incognito2411

Because they are new, the link has to be approved which it will be shortly.

@SimCityAT Okies

@Incognito2411 no it is in a village called Frenaros near Paralimni

@MacGeorge8035 ah so you moving to east side.. well done ... What was the convincer for Frenaros as we looked at Frenaros Kapparis Liopetri and Xylofagou.....  Not to live there but to have a holiday getaway for ourselves and family...

@Toon We always preferred the Eastern side for various reasons. I have a disability which can make getting around more difficult so the fact it is flat is a bonus. The lower density of expats, you can get more for your money on that side as well as the proximity to nicer beaches.

True enough .. I would say its cleaner in some areas ...flatter definitely .... And property does seem to be a tad cheaper... I was just a bit wary of winter time activity . But for us it would just be a short break getaway hideaway property something different .... So not a big issue .

Good luck, wishing you well for the future enjoy your new home...... And thank you for your input in helping guiding new arrivals

@Toon once I move I will still be happy to help just for the Eastern side, particularly the Famagusta district

@MacGeorge8035 excellent .. that's good news .. cheers George.. 

A side note . Didnt we do well with PL. and now CL

Onwards and upwards

@MacGeorge8035  That's very helpful as I shall be considering the Eastern side as well.  Thanks George (and apologies for referring to you as Mac!)

@MacGeorge8035 When are you planning to move George - is it imminent?