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Tax on overseas property lettings

Our developer has advised us that our holiday apartment in Paphos is finished and we’ll be flying over to Cyprus next week to pick up the keys. To help offset the mortgage payments, we plan to rent it out while we’re not using it. I’ve already spoken with a number of companies in the Paphos […]

Using our apartment as collateral for a loan etc

WE PURCHASED an apartment on the ground floor of a three-story block of six and were told that Title Deeds would be forthcoming in no longer than six-years which at the time we thought was fair because we had heard ‘the’ horror stories. However, what we did not know, because we had never had a […]

Can I stop being deafened by building work

EARLIER this year my wife and I took delivery of a property in a large development near Paphos. Since we moved in we are constantly being deafened by the noise of building work going on all around us. The builders start arriving on site at around 06:45 and are so noisy talking to each other, […]

Do we need bills of quantities?

My wife and I are having a new house built at Psematismenos. We bought a plot of land several years ago and are using an architect from Larnaca. We have now agreed all of the plans and are ready to issue invitations to tender. But our architect is saying that he needs to get a […]

VAT refund for property buyers

I’M really confused with this setup of the VAT returned for first time property buyers in Cyprus. My lawyer has advised me that when I sell my villa, the new buyer will receive the VAT refund. However, the agent says that because the buyer is not buying directly from the developer the property will be […]

No-one is interested in buying

WE have a small apartment in Kapparis on the east coast of Cyprus that we bought with the intention of renting to tourists. The property developer we bought it from promised us that we would get an annual return between 15% and 20% on our investment, but the only people who have rented it so […]

Equity release in Cyprus

I wonder if you can help please. The falling value of the pound against the Euro means that we have much less money coming in every month and we are now finding it quite difficult to make ends meet. A number of our friends who have also retired here are in a similar situation. Can […]

Non-payment of communal charges

I live in a complex of apartments and after nine long and frustrating years we all got our Title Deeds last May. We took over responsibility for the administration and management of the apartments from our developer and our lawyer helped us set up a “Management Committee” to look after things. There are forty eight […]

Title Deeds: capital gains tax liability

AFTER 18 years we have just been advised that the Title Deeds for our house are now available. But I have just received a letter from the property developer saying that I have to contact previous owner about the tax. I don’t know where he’s living or if he’s even still alive as he went […]

Mortgaged property in Cyprus

I am in the process of buying an off-plan property in Cyprus and my lawyer has written advising me that: “The bank which has a mortgage on the project will issue a declaration confirming that the separate Title Deed issued for the property will not be burdened with the existing mortgage which is currently filed […]

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