Since 1970
Call us: +357 (24) 822 870

Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 5 December 2018 Cyprus property market on the up

    Specialists are confident over the future of the Cyprus property market,... read more

  • 28 November 2018 Cyprus real estate sector looking up

    Cyprus’ real estate sector is continuing to thrive, building on the upward... read more

  • 5 November 2018 Trapped buyers get Christmas present promise

    The problems faced by the 70,000 ‘trapped buyers’ who were duped into... read more

  • 5 November 2018 Return plan 14 percent VAT for first house plot

    The Finance Ministry pledged Monday to the Parliamentary Finance Committee... read more

  • 3 October 2018 Newzoe Developers in cooperation with Palourtis Estates at Cyprus- Lebanon Business conference " Invest in Cyprus"

    read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 5 December 2018 Cyprus property market on the up

    Specialists are confident over the future of the Cyprus property market,... read more

  • 28 November 2018 Cyprus real estate sector looking up

    Cyprus’ real estate sector is continuing to thrive, building on the upward... read more

  • 5 November 2018 Trapped buyers get Christmas present promise

    The problems faced by the 70,000 ‘trapped buyers’ who were duped into... read more

  • 5 November 2018 Return plan 14 percent VAT for first house plot

    The Finance Ministry pledged Monday to the Parliamentary Finance Committee... read more

  • 3 October 2018 Newzoe Developers in cooperation with Palourtis Estates at Cyprus- Lebanon Business conference " Invest in Cyprus"

    read more

Taxes and Fees payable by the registered owner of a property

Immovable Property Tax payable to the Tax Department 


Immovable Property Tax (IPT) was reduced in 2016 to approximately a quarter of that in the previous year and is abolished in 2017. 

Property Tax payable to Communities and Municipalities

This ‘local’ property tax has not been abolished and those with property on the island will continue to pay this ‘local’ tax, which is calculated on the Land Registry’s assessment of the 1980 value of the property. 



Local Authority Fees
Depending on the size of your property, local authorities charge between €85 – €256 per annum for regular refuse collection, street lighting, sewerage and similar community services. Communal Services fees are payable to your local municipal authority.  However, when property is rented out, then fees such as refuse collection tax and others are payable by tenant.  Contact your local municipality council for details.


Municipality Tax 
An annual Municipality Tax must be paid by the owner to the local municipal authority.  It is calculated on the market value of the property as at 1st of January 1980 and the rates vary from 1%-2%.


Sewerage Tax 
Sewerage Tax is payable annually to the local sewerage board.  It is calculated on the market value of the property as at 1st of January 1980. Rates vary from 3% – 3,5%.