The first step is to determine whether you are buying for investment, as a holiday home, or for permanent residence. Set a budget that includes not only the purchase price but also taxes, legal fees, and maintenance expenses. Decide on the ideal location, whether in coastal areas, city centers, or the countryside, and choose the type of property that suits your needs, such as an apartment, villa, townhouse, or land.

Hiring a local lawyer who specializes in real estate transactions is equally important. The lawyer will conduct due diligence, verify property ownership and title deeds, check for any encumbrances or legal restrictions, and draft or review contracts to protect your interests. At ARIE REAL ESTATE we can help you find a reputable local firm by providing contact details and arranging introductions if requested. Legal fees for property purchases in Cyprus are typically around 1% of the overall purchase price, although this can vary depending on the specifics of each case.

After agreeing on the price, a deposit, usually 30% of the total cost, is paid to secure the property. Your lawyer will draft the Sales Agreement, outlining all terms and conditions to protect both parties.

The payment structure depends on the stage of the property's development—whether it is off-plan, under construction, or fully completed. Generally, an initial reservation deposit is required to secure the property and remove it from the market. The specific payment schedule and remaining balance terms will be finalized before signing the contract of sale.

For non-EU buyers, obtaining government approval is necessary. This requires permission from the Council of Ministers, and your lawyer will handle the application process.

Normally, when you buy a new property, a VAT of 19% applies.However, If you are buying or building a home in Cyprus to use as your main and permanent residence, you can apply for a reduced VAT rate of 5% instead of 19%.This discount is meant to help people purchasing homes to live in, rather than for investment or rental purposes.

At Arie Real Estate, we are committed to delivering our projects on schedule and ensuring the swift application for individual title deeds once construction is completed. One of the key benefits of working with us is that our projects are typically more intimate in scale, often serving a select number of clients. This allows us to start construction for the entire development at once and complete it without unnecessary delays. From beginning to end, you can expect a seamless and professional experience, with the added advantage of being able to apply for title deeds right away, without waiting for multiple investors to finalize the project.