Selling your property in Cyprus for EU citizens.

You can sell the property yourself. However, there is a lot involved
and it is advisable to seek professional assistance.

Agents typically charge 3-5% of the final sale price. Choose a reputable and honest agent and get at least three valuations before you decide. Bear in mind that the agent quoting the highest valuation may be shooting himself, and you, in the foot. Be realistic and get the property marketed at a sensible amount. This will give you a much better chance of selling quickly.
Taxation on profit is currently 20%. Deduct the purchase price on your original contract and the total amount of any home improvements you made, and any agent’s commission you paid or are due to pay on the sale of your property from the selling price to the vendor to establish how much tax will be due.

Happily, there is a maximum of 50,000 Cyprus pounds (85,000 Euro) tax relief for those that can prove five years’ consecutive ownership of one property, and there is at least 10,000 Cyprus pounds (17,000 Euro) tax relief for lesser periods per person on the purchase contract.

You must calculate Immovable Property Tax, charged annually if any applies.
Property value below 100,000 – Nil Rated for Immovable Property Tax.
100,001-250,000 Cyprus pounds = 0.2% per thousand pounds.
250,001-500,000 Cyprus pounds = 0.25% per thousand pounds.
500,001-1,000,000 Cyprus pounds = 0.3% per thousand pounds.

Consider exchange rates and the cost of a lawyer. There are also minor taxes that must be paid and certificates must be obtained and presented to the Land Registry Office.

All in all there is a huge amount of leg work to do, including visiting many government offices. So once again, we thoroughly advise you to get a lawyer.

1,000,001 Cyprus pounds and over = 0.35% per thousand pounds.