We pride ourselves on being specialists in sole agency and all our clients gain from using Fitzgerald Estates as their sole marketing agent. We are renowned for matching the right buyer with the right property to achieve the fastest sale with the minimum amount of disruption. If a buyer is at all unlikely to give your property serious consideration, then we don’t waste your time by showing it to them. Why inconvenience everyone involved by not taking that little extra time to listen first?

This is a brief guide to the technical aspects:

Property prices in Southern Cyprus have risen significantly over the last few years. Many long term house owners may then be considering cashing in and reinvesting.

If you sell a residential property in Cyprus for a first time, you will have to pay Cyprus Capital Gains Tax, which is currently 20%. You can offset this CGT liability as a result of inflation. the deduction of your professional and legal fees and cost of improvements and interest paid.

Another tax benefit is your entitled to a ‘once in a lifetime non transferable allowance’ of CYP£10,000. If you've owned your house for at least five years, the allowance rises to CYP£50,000.

Theres no CGT if the property is sold as a result of death or if you sell in order to change your permanent residence.

If you bought property in Cyprus before 1 May 2004 when Southern Cyprus joined the EU, as a non-Cypriot national you should have obtained a clearance certificate from the Central Bank to repatriate the funds, less Cyprus CGT back to the UK.

Theres is a double tax treaty with the UK so that any tax you pay in Cyprus can be offset against any UK tax liabilities so you don't pay tax twice. The current annual British CGT allowance is £8,200.

All the above information is subject to change and whilst we try and keep the details up-to date, it's always best to seek professional advice before making any decisions.