Wednesday, January 2, 2013

Extension of the ‘abolition of transfer fees’ for a further 12 months

Until now, Cyprus law has always stated that for every sale of a property and the transfer of the Title Deed, fees of up to 8% must be paid by the Purchaser during the transfer procedure.

However, the Government of Cyprus has recently announced the abolition of transfer fees for any new property purchases until the end of 2013 and irrespective of the time the Title Deed of the property will be transferred to the Buyer. 

Additionally, a new attractive tax incentive has been introduced, specifically for the acquisition of new private residences at the reduced VAT rate of 5%.


The Cyprus Government also approved the reduction of the VAT rate on the acquisition and/or construction of a property, which is used as a primary and permanent place of residence in Cyprus. In relation to these extremely beneficial announcements, Lanitis Development has also decided to offer up to 40% off the original asking price of a select number of properties at Aphrodite Hills Resort. Therefore, the combination of the abolition of the transfer fees and the reduction of VAT - plus the advantageous discount on the purchase price, gives you the opportunity to buy a property at the luxurious, award-winning 5-star Aphrodite Hills Resort, at a substantially reduced price.

Now is the perfect time to buy a new property at Aphrodite Hills.

For further information please contact the Sales Office:

Tel: +357 26 82 80 50

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