Taxes other than the Home Price during the purchase of housing
Stamp Fee: 0.5% Tax that is paid during the contract phase for stamping and formalization of the tax contract.
VAT: VAT paid by the customer for the Tax Office at 5% over the Contract Price. It is paid before the house delivery takes place.
Transformer Contribution + Infrastructure and Connections: Since the government does not provide electricity, telephone, water and other infrastructure connections, these costs are divided equally among the customers. The average amount is between £ 1500 and £ 2500. The house is paid before delivery.
Title deed Fee: In case of the payment of all the debts of the customer and the house tiles are ready after the receipt of the house purchase permission by the lawyer, 3% of the value shall be paid during the title deed according to the result of the price evaluation of the house to be built by the TRNC Land Registy Office.
NOTE: In second-hand real estate purchases, taxes such as VAT, transformer are not paid because a house with a deed is not taken from a professional dealer. If you are contracted with the landlord, a stamp charge is paid. If the title deed is taken directly, only 3% of the period fee is paid.
* Those who own real estate in Cyprus annually pay taxes to the municipalities for 1 TL per square meter. For example, an apartment with an area of 80 square meters is 80 TL per year.
