Legal Issues

Additional Factors

Moving into your new home

Communal Charges - communal charges greatly depend on the type and size of property that you have purchased. If you have purchased a property that is part of project which consists of a swimming pool, Jacuzzi, Spa etc, as They cover an owner’s share of the cost of cleaning and maintaining common areas and gardens, swimming pool expenses, electricity in common areas, management fees, rubbish collection and repairs. As such, the communal charges will be substantially higher in comparison to a property bought on a project which provides only basic facilities. Usually, such charges range between CYP20 - CYP40 on a monthly basis

Utilities and Council Rates in Cyprus - Council rates include refuse collection and street lighting etc. Usually, local council rates for these amount to no more than CYP80 per year per property. Other utility costs are fairly low – telecommunication rates are very competitive worldwide, and electricity costs on average CYP400 annually, and water rates at CYP100 on average annually. These are usually payable monthly or quarterly in advance. They vary from development to development and depend on the area and type of the property.

Insurance Rates - In general, institutions are also English speaking and the procedure of filing and claiming insurance is very similar to that of the UK. Moreover, property insurance is priced at 1.65% of the current property value and contents are determined on 2% of their total value.