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Cyprus - The property market over the last decade, summed up.
For the majority of the last decade, the Cyprus property market has been at the mercy of international events, in part through its reliance on tourism which is very sensitive to global events and economic crises. In a stable economic and political climate, countries like Cyprus which rely heavily on tourism can often convert those two weeks on a sun-drenched beach to fulfillin...
Why list your property with a real estate agent?
Many people who decide to sell their home, think they can make extra money by removing the small percentage allocated to a real estate agent. This seems like a great financial decision. But is it really? Let’s consider for a moment, who you perceive as the most important person in your initial real estate transaction. Contrary to popular belief - it’s not your la...
Tips to buying a house in Cyprus.
So, you’ve decided to purchase property in Cyprus, and why wouldn’t you? Excellent weather, low crime rates, tax benefits, affordable living costs, superbly located - the list of reasons to invest in Cyprus are seemingly endless. It’s easy to have your heart firmly invested when you find that perfect home, but when it comes to your head, the process is rathe...
Permanent residence Regulation 6(2)
On 27/04/2023, the Cyprus’ Council of Ministers revised the criteria for obtaining a permanent residence permit in Cyprus based on the Regulation 6(2) of the Alien and Immigration Regulations investment scheme for residents of third countries. The revised criteria for the granting of permanent residence permit to third country nationals came into force on 2/5/2023. Fina...
Gain Tax and Cost of purchase
This is imposed on the difference between purchase price of the property and sale price of the property and you will be given exemption for the amount of 17.086,01 EUR to be deducted from the gain amount for every of the owners in case that the property was bought jointly. Under the law, the chargeable gain is adjusted for inflation. To calculate the inflation adjustment,...
Finance Options for Buying Property
MORTGAGES Mortgages are widely available in Cyprus and the terms are similar to those in the UK. However, you may require some help from our experts with the process of applying for your mortgage. We will gladly give independent advice and assistance with your mortgage application from a Cypriot bank. MAIN CHARACTERISTICS OF MORTGAGES IN CYPRUS Mortgages in Cyprus are auth...
Acquiring Property in Cyprus
Foreign buyers, especially those from the UK, often assume that because legal and financial systems are based on the same principles as those in the UK, house-buying procedures will be the same. Cyprus land law and UK land law and the associated procedures aren’t the same. It’s wise to employ the services of a recommended local lawyer even before you find a propert...
Cyprus Property Taxes, Fees and Rates
On any financial gains from disposal/sale of Immovable Property situated in Cyprus, Capital Gains Tax will be imposed at the rate of 20% with the first €17,086 being exempt for each person. The gain is the difference between the sales proceeds and the original cost of the property. In the case of a property which was purchased before 1st January 1980, ...
The history of Cyprus is one of the oldest in the world and dates back to the 7th century B/C. The arrival of the Mycenaean Greeks at first, followed by the Achaean Greeks has given Cyprus the typical Greek character. The Island has four major cities, Nicosia as the Island’s Capital, then Larnaca as the Island’s main airport, then Limassol as the Islands main seapor...
Levels of Service offered •Full Management•Letting Only This is our inclusive Service, which provides for the marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we then go ahead and prepare the tenancy agreement, and if required an inventory. The Tenant will then be c...
24, Gladstonos Street, Poullet Court Office 4-5, 8046 Paphos, Cyprus - Tel: +357 26 938900
FAE BlueSky Houses Ltd Reg. No. 819 & License No. 217/E
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