Buying a New Home in Cyprus: FAQs

New builds offer modern design and specification, energy efficient construction, communal facilities such as pools and gyms, and staged payment plans. Qualifying buyers can also benefit from reduced VAT, and new builds carry no Land Registry transfer fees.

Yes. EU and EEA nationals can buy freely, while non EU nationals, including buyers from the UK, US and Canada, can buy with an acquisition permit that your lawyer applies for on your behalf.

No. You can buy and own property in Cyprus without being resident there.

Off plan properties are bought before or during construction, usually at launch prices with staged payments. Key ready properties are complete and available to move into straight away.

Usually, yes. Off plan and early launch properties are typically priced below what the same units sell for once the development is finished, and buying early gives you first choice of units and views.

You pay a reservation deposit, then instalments linked to construction milestones, with the balance due on handover. The exact schedule varies by developer and is set out in your contract.

Cyprus offers everything from studios and apartments to penthouses, townhouses and detached villas, including seafront, golf resort and hillside developments.

No. Cyprus abolished its annual immovable property tax in 2017, so there's no yearly property tax bill, whatever your property is worth.

The standard rate is 19%. Buyers purchasing a new build as their main residence can qualify for a reduced rate of 5% on the first 130 square metres, on properties up to €350,000 within a total transaction value of €475,000.

No. Where VAT is paid on a new build, no Land Registry transfer fees apply.

No. Stamp duty on property contracts was abolished from 1 January 2026.

Allow for legal fees, utility connections, furniture if the property is unfurnished and annual service charges on managed developments.

Service charges cover the upkeep of shared areas and facilities such as pools, gardens, lifts and security. They vary by development, so ask for the figure before you buy.

No. Cyprus has no inheritance tax.

All property in Cyprus is priced and paid for in euros. If you're paying from sterling, dollars or another currency, a currency specialist can usually offer better rates than a high street bank.

Yes. Cyprus banks lend to foreign buyers, although non residents usually need a larger deposit than local buyers. A lender or broker can confirm what's available to you.

Always use documented bank transfers. This keeps your purchase compliant with anti money laundering rules and gives your lawyer the records needed to complete.

Look for an established developer with completed projects you can visit and verify. Every developer on Propuno is vetted before their developments are listed.

It depends on your goals. Limassol suits city living and rental investment, Paphos is popular with retirees and lifestyle buyers, Larnaca offers value and growth, and Ayia Napa and Protaras are ideal for holiday lets.

Larnaca and Nicosia generally offer the most affordable new build prices, while Limassol is the most expensive.