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
€ 370 000
Apartment, For sale
ID: CY-35-1-157674
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ID: CY-35-1-156780
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ID: CY-35-1-156647
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ID: CY-35-1-156646
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€ 840 000
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ID: CY-35-1-155970
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ID: CY-35-1-154250
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Special offers of real estate abroad
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- ID: LV-1356
- Latvia, Riga, Old town
Exclusive private house in the heart of the Old Town
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- ID: ME-103-100396
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Two new villas in Krimovice
- upon request
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- ID: LV-1529
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Feel atmosphere of the Baltic sea resort! Private scandinavian style house for sale in Jurmala.
- upon request
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- ID: OW-OAE-133859
- UAE, Dubai, Business Bay
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- ID: LV-143885
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For sale Exclusive Household in the center of Riga
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- House, For sale
- ID: LV-163492
- Latvia, Jurmala and region, Majori
Exclusive Villa for Long-Term Rent in Jūrmala, Dzintari
- € 2 150 000
- House, For sale
- ID: LV-77877
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For sale luxury villa near the sea in Jurmala
- € 2 800 000
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- ID: IT-39-165406
- Italy, Toscana, Siena
FARMHOUSE WITH POSSIBILITY OF SPA CENTER IN VAL D'ORCIA
- upon request
- Penthouse, For sale
- ID: CY-193-98877
- Cyprus, Limassol, Limassol Coastal road
Luxury residence for sale in Cyprus
