Buying a Property in Cyprus

A Straightforward and Secure Process

Buying property in Cyprus is one of the most transparent and buyer-friendly processes in Europe.
The system operates under English common law principles, giving foreign buyers complete legal protection and clear title ownership.
Auckland Estates, in partnership with Pafilia and Aristo Developers, guide clients through every stage of the process from reservation to registration ensuring a smooth and secure transaction.

Why Buy in Cyprus

Cyprus combines lifestyle, stability, and profitability in equal measure.
With year-round sunshine, an English-speaking environment, and strong economic growth, the island continues to attract investors, families, and retirees from across the world.
The property market remains affordable compared to other EU destinations, offering excellent value for money and strong potential for long-term appreciation.

Average rental yields range between 5–7%, with high occupancy rates driven by both tourism and relocation demand.
For investors, there are no currency restrictions, and funds can be freely repatriated after sale.

The Buying Process

1. Property Selection and Reservation
Once you have selected a property, it is reserved with a small deposit (usually €2,000–€10,000 depending on value).
This removes it from the market while your lawyer conducts the initial due diligence checks.

2. Legal Checks and Contract of Sale
Your independent lawyer will confirm property ownership, planning permissions, and that there are no encumbrances on the title.
A Contract of Sale is then prepared and signed by both parties, setting out the agreed price, payment schedule, and completion terms.

3. Deposit of Contract with the Land Registry
To protect the buyer, the lawyer deposits the signed contract with the District Land Registry Office.
This prevents the seller from re-selling or re-mortgaging the property and secures your ownership rights until title transfer.

4. Permission to Acquire Property
Non-EU nationals must apply for permission from the Council of Ministers to purchase property in Cyprus.
This is a standard procedure and generally approved within a few weeks.

5. Transfer of Title Deeds
Upon completion of payments, the Title Deed is transferred into your name at the Land Registry.
This final stage confirms you as the legal owner, and the property can then be registered for utilities and municipal taxes.

Purchase Costs and Taxes

Buying in Cyprus carries some of the lowest transaction costs in Europe.
Buyers should allow for approximately 6–8% on top of the purchase price to cover taxes and fees.

Typical costs include:

  • Transfer Fees: 3–8% (depending on property value; discounts apply for VAT-paid properties)
  • Stamp Duty: 0.15%–0.20% of the contract value
  • VAT: 19% (or 5% for first-time owner-occupiers on their main residence)
  • Legal Fees: 1–1.5%
  • Land Registry Fees: Minimal, often a few hundred euros

Your lawyer will provide a full cost breakdown before signing any contracts.

Mortgages and Finance

Both local and international banks in Cyprus provide mortgage facilities to foreign buyers.
Typical lending criteria include:

  • Loan-to-Value (LTV): Up to 70% for EU residents, 60% for non-EU
  • Term: Up to 25 years
  • Interest Rates: Generally between 3–5%
    Borrowers must provide proof of income, identification, and a deposit from a verifiable source.

Our partners can introduce you to English-speaking lenders who specialise in expat and overseas investment mortgages.

Residency Through Property Purchase

Cyprus offers fast-track residency to property investors:

  • Permanent Residency (Category F): Granted for property purchases from €300,000 (new properties only).
  • Application Time: Typically approved within 2–3 months.
  • Family Inclusion: Spouse and dependent children under 25 can be included.

Residency holders can live in Cyprus year-round, travel freely within the EU, and later apply for citizenship after meeting residency requirements.

Legal Representation

Every buyer should appoint an independent English-speaking lawyer — not one acting for the developer or agent.
Your lawyer will:

  • Conduct due diligence and title checks
  • Prepare and register the Contract of Sale
  • Handle Land Registry and Council of Ministers applications
  • Arrange title transfer and payment completion

Auckland Estates work closely with reputable Cypriot law firms experienced in international property transactions, ensuring compliance and peace of mind.

Why Buy with Auckland Estates

With over 40 years of UK property experience, Auckland Estates provide:

  • Exclusive access to verified developments by Pafilia and Aristo
  • Transparent pricing and secure purchase procedures
  • Legal, financial, and relocation assistance
  • Full aftersales and management support

Our International Department bridges the gap between UK buyers and the Cypriot market — offering professional advice, local expertise, and personal service from start to finish.

Next Steps

  1. Contact our International Department to discuss your goals.
  2. View available developments and arrange an inspection visit to Cyprus.
  3. Appoint your lawyer and proceed with reservation and due diligence.

With Auckland Estates by your side, buying a home or investment property in Cyprus is simple, secure, and rewarding.