The discount for the transfer fee after purchasing the Property in Cyprus became permanent. For any questions regarding buying, selling or renting properties in Cyprus, please contact our Real Estate department 24cyprus.com.
From now on, everyone who will be buying property, will be able to save 50% on the transfer fees which are payable to the Government. The initiative was apparently introduced quite some time ago, but it was of temporary nature- initially it was valid until the end of 2016.
Now the Ministry of Finance has lifted the time frames and the rules will be in force permanently. The officials expect that this amendment will boost the growth of the real estate market and will attract more foreign investors.