Call Us Today: 00357 70008100

Tax, Fees & Duties

Transfer Fees

When the purchaser is addressed to the Land Registry Office then she/he needs to pay the Property Transfer Fees. The fee is borne by the purchaser and is due when the title deeds are transferred to his/her name. The following table indicates the transfer fee rates:

Value of Property Euros (€) Transfer Fee Rate (Per hundred %)
Up to 85000 3%
From 85001-170000 5%
From over 170000 8%

The fees are charged on the property’s market value at the date of purchase. These fees have been reduced by 50% until December 2016.

Immovable Property Tax

The registered owner is also liable for the Immovable Property Tax, which is annual and is based on the value of his/her property as of 1st January 1980. The following table shows the annual tax rates. We should note that this tax may be abolished in 2017.

Each registered owner is liable for this annual currant imposed tax calculated on the market value of the property as at 1st of January 1980.

Value of Property Euros (€) Annual Property Tax (Rate per thousand %)
Up to €40,000 0.60%
€40,001–€120,000 0.80%
€120,001–€170,000 0.90%
€170,001–€300,000 1.10%
€300,001–€500,000 1.30%
€500,001–€800,000 1.50%
€800,001–€3,000,000 1.70%
Over€3,000,001 1.90%
(with minimum tax €75)

Stamp Duty

Stamp duty is calculated as follows:

€2.56 per €1.708.60 for the first €170.860.00 and €3.417 per €1.708.60 for any amount above €170.860.00.

VAT

Standard rate 19% as from 13 January 2014