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Is it protected to buy property in Cyprus? Second, the economy has continued to grow. Third, many overseas companies have moved their operations to the country, attracted by the enticing tax charges. This has led to extra employment opportunities, which has led to elevated demand for Cyprus property.

3 mattress bungalow for sale Just added Transfer of possession must be completed by your authorized consultant in your behalf. In order for new properties to be legally allowed for habitation, an impartial inspection have to be carried out by the authorities, upon which a Final Completion Certificate is issued. Only when that is in place can the title deeds for the property be issued, and it is strongly beneficial that you simply insist on holding the title deeds for the property your self. Buy a property in Cyprus. Apartment – Larnaca (city), Larnaca, Cyprus If your home is permitted, consideration must even be given to the cost of renting out your house, as you'd be liable for revenue tax and a yearly fee of three% of the projected revenue, to the CTO. If you’re planning to buy a property in Cyprus, you need to take into account any legal charges and taxes, similar to switch fees, property tax, stamp obligation and registration of the mortgage, in case you have one. These normally quantity to round 11 per cent of the purchase price.

property for sale in Cyprus