New property sales tax payable by the vendor

New property sales tax to support refugees

Real Estate Tuesday, 16 February, 2021

The parliament approved this week a new levy of 0.4% will be imposed on all property sales in order to support Greek-Cypriot refugees.

According to the new law, the tax will be on any sale/transfer of real estate, the levy will be payable by the seller and the funds will be distributed to the support the refuges through various Governmental Schemes.

Christos Nikolaou

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “New property sales tax to support refugees” and is a certified advance negotiator.

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