Cyprus Property Dreams
You do not part with a single penny for using our service
worldfemdom.org

Cyprus Property vat News

VAT reductions for first-time home buyers and a suspension of transfer fees are being discussed as part of the Cyprus government’s austerity measures to bolster the Island’s failing economy

GOVERNMENT lobbying by the Land & Building Developers Association (CLBDA) and the Land & Property Owners Association (KSIA) has been successful as proposals to reduce the tax on properties are now being discussed

The tax reduction proposals comprise:

Reducing the VAT to 5% for first-time home buyers for residences up to 250 square meters – and maintaining it at 15% for residences between 250 and 300 square metres. A suspension of property transfer fees for a three year period. A draft law concerning the reduction in VAT to 5% is expected to be discussed at today’s House Plenary session.

The Island’s property market has been in trouble for quite some time. Sales have fallen for thirteen consecutive months and are now down by almost 20% on the numbers sold last year. Unemployment in the sector has risen and the business climate deteriorated.

Assuming that these proposals are accepted by parliament and become law, they should go a long way in relieving the problems of the industry and should also help to clear the backlog of Title Deeds waiting to be issued.

We offer you free and factual advice from personal experiences,
we have property bargains and the latest news about the island
and its developing future with new marina's and other infrastructure projects creating high demand for property. Sign up now for Cypruspropertydreams.com Newsletter
Add Your Email here For
The FREE Buyers Guide
* = required field

powered by MailChimp!
Buyers Guide Everything you need to know about buying property in Cyprus. Click the button to get your free copy.
Request a Callback Prefer to discuss your requirements? Click the button, add your details to the form and we will call you. We are very friendly people and there is zero obligation!
Subscribe to our Newsletter To receive regular property updates by email click the button and add your email address in the form.
Property Search
Location
Category
From (€)
To (€)
Bedrooms
Ref

Add this

Share |
RSS Feed

Currency Convertor

About us

Our Unique Service

 

First, each member of our team originates from the UK so there are no communication barriers.

Second, each of us has bought property in Cyprus and understands the the processes from first-hand experience. This has enabled us to help many other people buy property in Cyprus with confidence.

Testimonial

Testimonials


Teresa & Malcolm Jones wrote

This is to say Thank`s very much for all your help at Living Cyprus. From opening your website last July, to taking hold of our apartment in April, could not have been any easier......

The information you provided...

» Read More