money
Taxes and Fees When Buying
A quick breakdown of the one-off and ongoing costs of buying property in North Cyprus, so there are no surprises at completion.
Taxes and fees\n\nBudget approximately **6–10% of the property price** for one-off purchase costs.\n\n- **VAT (KDV)** — usually 5% on new-build purchases.\n- **Stamp duty** — 0.5% of contract value.\n- **Transfer fee** — 3% (first-time foreign buyer discount reduces this).\n- **Permission to Purchase fee** — nominal.\n- **Legal fees** — typically £1,500–£2,500.\n\nOngoing costs include annual property tax (very low), community fees for managed developments, and utilities.
