Selling property in Cyprus: Complete guide

Considering selling a property in Cyprus? Perhaps it’s an underused holiday home, an investment property or maybe even your permanent home - but you’re planning to sell up and move back to the UK

Whatever your plans, this guide is for you. We’ve put together all the essential info you need on selling property in Cyprus as a UK national. This includes the fees, taxes, timescales and steps involved, along with whether you need a solicitor.

And if you need a low-cost, transparent way to transfer the proceeds of your property sale back to the UK, check out the Wise account from the money services provider Wise. It’s not a bank account but offers some similar features, and your money is safeguarded.

With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll receive dedicated support and volume discounts when sending large amounts.

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Table of contents

How to sell property in Cyprus as a foreigner - a step-by-step guide Is now a good time to sell your property in Cyprus? How long does it take to sell property in Cyprus? Do you need a lawyer or a solicitor to sell property? Do you need a Cyprus bank account to sell property in Cyprus? Taxes and costs of selling property in Cyprus as a non-resident Real estate agent fees Land Registry Transfer fees Legal fees Capital gains tax Immovable property transfer levy Does owning property in Cyprus make you a tax resident? Save money on your Cyprus property sale with Wise international transfers

How to sell property in Cyprus as a foreigner - a step-by-step guide

If it’s your first time selling a property in Cyprus, you may be unfamiliar with how the process works.

If you’ve bought a property in Cyprus before, you’ll have some understanding of it - but it can be quite different from the seller’s perspective.

Below are the key steps for foreigners selling property in Cyprus, so you know exactly what to expect.

1. Get your documents together

Before you do anything else, you need to make sure you have the required paperwork to sell your property. Here’s what you should have ready:¹

• Your ID, such as a valid passport
• Tax identification codes (if applicable)
• The original Title Deed for the property
• A certificate from the Cyprus Real Estate Registry confirming that the property does not have outstanding mortgages, charges, seizures or other encumbrances
• Proof of payment of all taxes and fees, including municipal taxes and rental income
• Energy efficiency certificates
• Technical documents for the property, such as building plans/permits, site plans, plumbing and electrical inspection certificates. Plus, permits for any extensions or remodelling work
• All documents relating to the mortgage

2. Find a real estate agent

The next step is to find a real estate agent to market and sell the property. It isn’t mandatory to use one, but it is advisable - especially if you’re selling a Cyprus holiday home while still living in the UK, or if you’re unfamiliar with the local property market.

An agent will have the local knowledge and expertise to sell your property at a good price. They’ll also take care of viewings, photographs of the property, paperwork and communications with potential buyers. Crucially, they’ll also give you a valuation, which will help you set the purchase price.

To choose an estate agent, it’s a good idea to look for English-speaking agents with experience of working with UK sellers and expats. Ideally, get a personal recommendation from someone you know who has successfully sold a Cyprus property.

Otherwise, you should look for an agent who is registered with the Real Estate Agents Registration Council in Nicosia. Make sure you ask to see their registration certificate and registration number.²

3. Advertise the property

Now it’s time to put your property on the market and advertise it to potential buyers.

Before you do, make sure your property is looking its best. You might want to declutter, clean the windows and dress each room attractively ready for viewings.

Then, either you or your estate agent will need to take some photos to show off its best features.

Your estate agent will play a central role in advertising the property, but you can also list it on popular local property sites such as:

• BuySellCyprus.com
• Home.cy
• Spitogatos
• Zyprus
• 101evler
• Rightmove (if you want to reach buyers from the UK).

4. Appoint a solicitor

It’s recommended to hire a solicitor to give you advice on your Cyprus property sale, and to oversee the legal and administrative aspects of the sale.

A personal recommendation is a good way to find a solicitor, but you can also find a list of English-speaking property solicitors on the UK Government website.

5. Negotiate and accept an offer

Buyers can submit offers directly to you, but it could be easier if they go through your real estate agent. They can help you negotiate with buyers and agree on a final purchase price.

6. Sign the reservation agreement³

Once an offer has been accepted, the next step is for a reservation agreement to be signed. This is a promise to keep the offer open for the buyer for a certain period, and the buyer pays what is known as a reservation deposit in exchange.

During the agreed period, the details of the purchase will be negotiated and finalised.

If an agreement can’t be reached by the end of the period - or the buyer pulls out - they’ll lose their reservation deposit.

7. Sign the contract of sale³

Once all terms are agreed, a final contract of sale is drawn up and checked over carefully by each party and their solicitors. Both parties sign, and a signing fee is paid by the buyer - this is usually 30% of the sale price, minus the reservation fee already paid.

8. Get a Tax Clearance Certificate³

This step involves submitting documents to the Inland Revenue, which will calculate whether there is any tax payable by the seller. If so, this must be paid and then a Tax Clearance Certificate can be issued.

9. Completion at the Land Registry office³

To finalise the sale and transfer ownership to the new owner, all parties must attend an appointment at the District Land Registry office.

On this date, the title deed is transferred into the name of the buyer and you’ll receive the final payment from the buyer before handing over the keys.

If you’re living abroad when your property is sold, you’ll need to appoint an authorised designated person to deal with some of these steps and ensure the funds are collected on your behalf.

💡 Read more: Receiving money from abroad in the UK: a how-to guide

Is now a good time to sell your property in Cyprus?

Your circumstances will have a lot to do with whether or not it’s the right time to sell your property in Cyprus. For example, how much you originally paid for the property along with how much prices have risen (or fallen) in the region.

But more generally across the country, it could be a good time to sell.

The real estate market in Cyprus is looking pretty healthy, and property prices have grown between 5% to 8% every year for the last 5 years.⁴ Demand among local and foreign buyers is high, with investors attracted by the healthy rental yields on offer in Cyprus.

So if you bought at the right price, now could be an advantageous time to sell up.

How long does it take to sell property in Cyprus?

Due to the administrative processes involved, it can take up to 6 months to sell a property in Cyprus,³ although it could potentially be quicker.

Some of the factors influencing the timescale for the sale may also be outside of your control. For example, the buyer may take longer than expected carrying out due diligence checks, or there may be an extra legal or other complication which takes time to resolve.

It may also depend on the asking price and how fast properties are selling in the local market.

Do you need a lawyer or a solicitor to sell property?

It’s strongly recommended to appoint a solicitor specialising in real estate or conveyancing work in Cyprus. They can draw up and translate documents, check over conditions of contracts, give you advice about the selling process and so much more.

This could make your property sale go more smoothly and crucially, help you avoid a costly mistake.

Do you need a Cyprus bank account to sell property in Cyprus?

It’s not a legal or mandatory requirement to have a Cyprus bank account to sell property in the country - although you may find it easier with one.

You’ll need to get in touch with banks in Cyprus to find out what the requirements are and if you’re eligible for an account.

You may be able to use an international account for your property sale, or even your current account with a UK bank.

Another thing to note is that international transfers could get expensive, especially if the provider adds a margin to the exchange rate to convert your euros to British pounds.

Consider checking out Wise to handle your international large transfers and conversions with mid-market exchange rates and low, transparent fees*.

Taxes and costs of selling property in Cyprus as a non-resident

Now we come to the crucial question - how much will it cost you to sell property in Cyprus? Let’s take a quick look at the main fees and taxes involved:¹

Tax/fee name	Rate/fee
Real estate agent fees	Around 3-5% of the sale price⁵
Land Registry Transfer fees	1.5% to 4%⁶
Legal fees	Varies, usually around 1%⁵
Capital gains tax	20% above €17,469 EUR²
Immovable property transfer levy	0.4%²

Real estate agent fees

The fee paid to your real estate agent for marketing and selling the property will usually be around 3-5% of the sale price, unless otherwise agreed.⁵

Land Registry Transfer fees

This is the fee payable to the Land Registry office for transferring the title deeds for the property. It varies based on the sale price:⁶

• 1.5% for up to €85,000 EUR
• 2.5% for between €85,001 EUR and €170,000 EUR
• 4% for above €170,001 EUR.

Legal fees

If you’re using a solicitor to assist with your transaction, you’ll need to factor their fees into your budget. These may vary depending on the solicitor, level of service provided and what you’ve agreed, but it’s usually around 1% of the sale price.⁵

Capital gains tax

Cyprus charges no capital gains tax on the first €17,469 EUR of profit on property sales. Above this, you’ll pay 20% on any profits² - this is the difference between what you originally bought the property for, and what you sell it for (if the value has increased).

However, you may also face capital gains taxes back in the UK. If you’re a UK resident and sell a Cyprus holiday home, for example, you’ll need to pay the tax in the UK.

Tax can be complex, so it’s best to get advice from a tax specialist before proceeding.

Immovable property transfer levy

The final tax is relatively new, introduced in 2021. The immovable property transfer levy is a flat tax of 0.4% on all property sales, payable by the seller to the Central Agency for Equal Distribution of Burdens (CAEDB). The funds are used to aid Cyprus refugees.²

Does owning property in Cyprus make you a tax resident?

For anyone considering moving to Cyprus (or staying there if you’re a temporary resident), it’s useful to know about tax residency and how it relates to property ownership.

Owning a property doesn’t automatically make you a tax resident in Cyprus. But how much time you spend living in the property does.

Cyprus has something called the 183-day rule to determine tax residency status. You’re considered a tax resident for the year if you spend 183 days or more in Cyprus within that year, or if you’re a permanent resident in your Cyprus home.

However, you may also qualify under the more flexible 60-day rule - if you spend more than 60 days living in Cyprus and no more than 183 days living permanently in another country.⁷

Save money on your Cyprus property sale with Wise international transfers

Once the deal is done, you might need to work out the best way to transfer the proceeds from your property sale in Cyprus back home to the UK if you don’t live in Cyprus.

Here’s where the Wise account can help you out. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can send large amount transfers worldwide to 140+ countries for low, transparent fees* and you’ll get the mid-market exchange rate with no markup.

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Fast and easy setup with no physical paperwork Low, upfront, transparent fees* and the mid-market exchange rates Dedicated support and volume discounts for large transfers Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a variable return on your GBP, USD and EUR with Wise Interest (capital at risk)**

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**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

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Sources used:

1. DOM Live - What documents are required to sell a property in Cyprus?
2. Developers Cyprus - Selling property in Cyprus
3. Philippou Legal & Tax Services - Your Comprehensive Guide: The Property Sale Process in Cyprus
4. Immigrant Invest - Property prices in Cyprus: what expenses to expect
5. Key Currency - The costs of selling a property in Cyprus
6. Developers Cyprus - Glossary - Transfer Fees
7. Your Overseas Home - Cyprus property taxes

Sources last checked on date: 12-Aug-2025