19% is the standard VAT rate when buying property in Cyprus. In 2008, it became possible to apply for a reduced VAT rate of 5%.It is used for the first 200 sq m when buying the first property in the country.
Cyprus will cancel the preferential VAT rate for the purchase of residential property
In the near future, the Cypriot government will revise the rules for applying a preferential VAT rate of 5% when buying a primary property. The new rules will have to comply with EU law.
VAT now:
Currently, there is a preferential VAT rate of 5% instead of the standard 19% for new buildings. The reduced rate applies to residential properties not exceeding 200 m2 and exclusively for personal use.
If the housing area exceeds 200 m2, then the difference is subject to 19%.
Assumptions of the new preferential VAT rate:
A reduced rate of 5% applies to the first 90 m2 for apartments and 170 m2 for private houses, provided that the cost of the apartment does not exceed 200,000 euros, and the house - 350,000.
Any residential property, whether it is an apartment or a house, exceeding the area and value limit, is subject to the full VAT rate of 19% for the entire area
Properties in Cyprus
Catalogue
Special offers
- € 1 052 000
- Apartment, For sale
- ID: ME-197-129557
- Montenegro, Lustica, Lustica
Luxurios 3 BDR apartment in Montenegro for sale
- € 1 444 000
- Golf real estate, For sale
- ID: ME-197-129549
- Montenegro, Lustica, Lustica
Golf apartment in Lustica Bay
- € 3 600 000
- Commerce, For sale
- ID: ES-198-120141
- Spain, Madrid
Supermarket in Madrid
- € 420 000
- Apartment, For sale
- ID: AE-34-123931
- UAE, Dubai, IMPZ
Modern three-room apartment with interest-free installments for 5 years!
- € 315 000
- Apartment, For sale
- ID: ME-197-129383
- Montenegro, Lustica, Lustica
New 1 BDR apartment in Montenegro
- € 1 650 000
- House, For sale
- ID: ID-141-78851
- Indonesia, Bali, Umalas
Luxury technologically advanced villa in the premium location
- € 1 500 000
- House, For sale
- ID: ME-22-70084
- Montenegro, Herceg Novi and surrounding area, Kumbor
Modern villa with pool and sea view, Kumbor
- € 1 820 000
- Golf real estate, For sale
- ID: ME-197-98538
- Montenegro, Lustica, Lustica
Cozy semi-detached elevated villa on the golf resort
- upon request
- House, For sale
- ID: IT-39-69056
- Italy, Lombardia, Brescia
VILLA WITH POOL ON LAKE GARDA (LOMBARDY)