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Why to purchase a Property in Cyprus till the end of year 2016!!

Why to purchase a Property in Cyprus till the end of year 2016!!

A number of non EU countries as Russia, China, some Arab countries and the others for last few years showed a great interest in purchasing Cyprus properties for obtaining Residence Permit or Cypriot Passport.

Whoever the buyers are and whatever type of property they are planning to buy in Cyprus they must take an action now before the 31/12/2016 in order to have the opportunities offered by the President of the Republic listed below:

a. Transfer Fees

Any property transfer done before the 31/12/2016 will be charged only half of the usual Transfer fee.

b. Capital Gain Tax

Anyone who buys a property before the 31/12/2016 and sells the property in the future will not be charged with Capital Gain Tax.

The above mentioned motivations apply to all types of properties, for example: apartments, houses, plots, offices, shops, agricultural land, whether they are used for personal or investment reasons.

Furthermore, to the above motivations are the prices of the properties that are currently at a reasonable level and one can find a wide range of options in the property market. The banks have started to give loans and therefore those who can qualify for a loan and would like to buy a property in the near future should proceed straight away in order not to lose this opportunity.