# What are all the taxes of the property in Cyprus ?



## Torto (Jan 4, 2014)

Hello
I am considering to purchase a property in Cyprus(yes i know about title deeds and what to do and who to hire not to have problems) but i am considering what are all the taxes that must be payed and how much it will cost me annually ?
So after a little research,i find that the taxes are:
-immovable property tax
-Municipality or Community
-Sewerage Tax
And if you have a pool and gardens-some taxes for maintenance.

So if i buy a property for 100 000 euro(lets say 100 square meters) how much taxes approximately i must pay totally ?
immovable property tax 100 euro
Municipality or Community 250 euro
Sewerage Tax 300 euro
Totally 650 euro(without taxes for the pool or gardens if you have such) -Am i calculating wright and i am missing some taxes ?


----------



## Veronica (Apr 5, 2008)

Hi.
IPT varies according to the size of the property, at 100K it may be slightly les than 100euros.

Community charge varies from village to village, we pay around 180euros, other villages like Peyia for instance pay more.

Sewerage I don't know .

Water bill, we pay less than 25euros every 3 months

If the property is on a complex you will have an annual maintenance fee payable to whoever looks after the complex. That varies depending on the developer or the maintenance company if it has been taken over from the developer. It can be around 1000K per year. If it is not on a complex, if you don't live there you will have to pay someone to look after your garden and pool and that again will vary depending on who you hire to do it.


----------



## JonandGaynor (Jun 8, 2009)

Veronica said:


> Hi.
> IPT varies according to the size of the property, at 100K it may be slightly les than 100euros.
> 
> Community charge varies from village to village, we pay around 180euros, other villages like Peyia for instance pay more.
> ...


Don't forget that IPT is being stopped after this year and '1000k', isn't that 1 million? sounds a little steep to me!


----------



## Torto (Jan 4, 2014)

So on average my calculations are correct-three taxes:
-immovable property tax
-Municipality or Community
-Sewerage Tax
Plus maintenance tax for the complex(much more if you have gardens and pools and less if you dont have).
What about income ?
Lets say we have an apartment 100 sq meters in Paphos
I read a several reports/statistics about rents per square meters.
If i use this Property price falls slowing - Cyprus Property News
RICS Cyprus Property Price Index 4Q 2015
The average price of apartment in Paphos is 96 545 euro(85 sq meters) and the rent per square meters 3.24 euro
But this links shows me different picture:
Cyprus Property Prices Index
Again they use RICS Cyprus Property Price Index,but no indication for what period(it is 2016,but on the official site of RICS Cyprus Property Price Index i dint find this) and the data is significantly different:
Apartment in Paphos 147,220 euro(85 sq meters),average rent per sq meter 5.34 euro
One is from 4Q 2015(released 11.02.2016) ,the other is from 2016(may be the middle).
But there is huge difference.
So,which is correct and is there other place,from where i can find the actual data ?


----------



## Veronica (Apr 5, 2008)

JonandGaynor said:


> Don't forget that IPT is being stopped after this year and '1000k', isn't that 1 million? sounds a little steep to me!


Woops That is meant to be 100K. Finger must have twitched 
And yes you are quite right, IPT is abolished after this year. 

In my defence I posted that at 3o'clock in the morning cause I couldn't sleep so got up. The old brain dosn't function very well at that time of silly o'clock


----------

