Selling property in Cyprus from the US: Complete guide

You can sell property in Cyprus while living in the US with the right guidance. The core steps for selling property in Cyprus are largely the same for foreigners as for locals, especially when you have a qualified lawyer who can act through power of attorney.

That said, there are important tax implications and process requirements to be aware of.

Whether you're selling a vacation home, an investment property, or inherited real estate, here's everything you need to know for a smooth process with minimal costs.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

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Table of contents

How do I determine how much my property is worth? What to consider when selling a property in Cyprus Documents required to sell property in Cyprus How to sell property in Cyprus: step by step What’s the best way to send money internationally? Is now a good time to sell property in Cyprus? How long does it take to sell a property in Cyprus? Costs of selling property in Cyprus Selling property in Cyprus: tax implications

How do I determine how much my property is worth?

Before you start selling a house in Cyprus, you need to determine how much it's currently worth.

On average, properties in city centers currently cost 3,125 EUR per square meter, and those outside city centers average 2,404 EUR per square meter.¹

Luxury properties can sell for much more.

Hiring a certified property valuer is typically your most reliable option. These professionals do physical inspections and compare recent local sales data to help you set a realistic pricing strategy. Your lawyer or real estate agent can often arrange this service remotely.

Online resources like Zyprus can also be helpful to do preliminary research.

What to consider when selling a property in Cyprus

You'll need to make several important decisions to successfully sell your property in Cyprus. Here's what to consider:

• Selling yourself vs. using an agent: Marketing your property yourself will help you save on commission fees, but a real estate agent has market knowledge and can handle viewings if you're not in Cyprus

• Legal representation: You'll almost always need to work with a lawyer, and they can help you manage legal requirements and tax implications

• Power of attorney: Granting power of attorney to your lawyer allows them to sign documents on your behalf, which can streamline the sale process

• Tax obligations in Cyprus: You'll need to address Capital Gains Tax and other local taxes

• Tax obligations in the US: The sale may affect your US tax return, and you may even have to pay Capital Gains Tax

• Property condition: Consider whether repairs or updates would increase your property's value and sellability before listing it

It's typically recommended to work with both a lawyer and a real estate agent when selling property in Cyprus. Sometimes you can find both professionals at the same real estate office or firm.

Make sure to only work with reputable professionals who have their licenses and credentials up to date.

Documents required to sell property in Cyprus

You'll typically need the following documents to sell a house or an apartment in Cyprus:²

• Title deeds (proof of ownership)
• Recent property tax receipts
• Utility bills showing all payments are current
• Energy efficiency certificate
• ID documents, such as your passport
• Extract from the Cyprus Real Estate Registry to show that the property is free from seizures, mortgages, minor owners, and other encumbrances
• Technical documents for the property
• Communal fees
• If you're married, a marriage certificate and consent from your spouse to sell the property

As a foreigner, you may also need to show the permission to purchase real estate that you should've obtained from the Council of Ministers of Cyprus when purchasing the property.²

You may need additional documents, depending on your specific situation. Your lawyer can help you navigate these requirements and gather all of the necessary documents.

How to sell property in Cyprus: step by step

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1. Property valuation

Start by determining how much your property is worth in today's market. This typically means hiring a certified property valuer who will assess your property's location, size, and condition. They'll also compare it to similar properties that recently sold in the area.

You can also do your own research and set your pricing strategy yourself.

2. Hire a real estate agent and a lawyer

Most foreign sellers will benefit from working with a qualified real estate agent and a property lawyer. While you're not required to hire either, their expertise can be very helpful, especially if you don't live in Cyprus.

Your real estate agent should be licensed with the Real Estate Agents Council in Nicosia.³

3. Market your property

Your agent will create listings with professional photos and detailed descriptions of your property. They'll advertise on Cyprus real estate websites, social media, their agency network, and international platforms if appropriate.

With Cyprus's active real estate market, you should start having viewings with potential buyers relatively soon.

4. Accept an offer

When buyers are interested, your agent will present their offers to you.

For serious buyers, you can use a reservation agreement, which temporarily takes the property off the market while you negotiate details like final price and transfer timeline. The buyer pays a reservation deposit to secure this exclusive negotiation period.

If you can't reach an agreement by the end of this period, you're free to sell to someone else, and the buyer loses their deposit. If negotiations succeed, you'll move forward to the contract of sale.

5. Contract of sale

Once you accept an offer, your lawyer will prepare or review the contract of sale. This legal document outlines all terms, including price, payment schedule, completion date, and what items are included in the sale.

You'll need to sign this document (or your lawyer might be able to, if they have power of attorney).

6. Property transfer

The final step is transferring ownership to the new buyer. Before this happens, you must settle all property taxes, utility bills, and other fees. Your lawyer will prepare the transfer documents for the Land Registry and make sure you receive the funds.

What’s the best way to send money internationally?

Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.

You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.

Wise is a money service business (MSB) regulated by 12 international financial authorities and uses sophisticated security features to keep you and your money safe.

Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.

As if all that wasn’t enough, there’s a Wise Multi-Currency Card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate for just a small conversion fee.

Open a Wise account today

Is now a good time to sell property in Cyprus?

The Cyprus property market is expected to grow steadily at 3.51% per year from 2025 to 2029, reaching 141.19 billion USD by 2029.⁴

Buyers are especially interested in luxury beachfront properties, so if your property is in a popular coastal area or a high-end neighborhood, you may be able to sell for a good price.

How long does it take to sell a property in Cyprus?

Selling property in Cyprus takes approximately 6 months. However, this is just an estimate.

Reasonably priced properties in popular areas can sell faster, and luxury or high-end properties may take up to 1.5 years because they're more expensive.³

Costs of selling property in Cyprus

Your main costs come from hiring professionals like a real estate agent and a lawyer as well as paying taxes.

If you need to transfer the funds back to the US, you'll also likely lose money on international wire transfer fees and currency exchange rates — something that many sellers don't expect.

Here's a closer look at what you can expect.

Expense	Typical cost³⁵
Real estate agent commission	3% to 5% of the sale price
Legal fees	1% to 1.5% of the property value
Capital Gains Tax (CGT)	20% of your profit
Immovable property transfer levy	0.4% of the sale amount

You may encounter other expenses during the sales process, such as the costs of Land Registry searches, permits, energy performance certificates, and copies of architectural plans.

You'll also need to clear all outstanding debts, including communal fees, utility bills, municipal property taxes, refuse collection charges, and sewerage fees. Your lawyer will verify that these are paid before transfer.

A big hidden cost comes when transferring your sale proceeds back to the US. Banks usually charge international wire fees and offer poor exchange rates with high markups, often up to 3.5% or more.

Selling property in Cyprus: tax implications

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Capital Gains Tax

Capital Gains Tax applies when you sell property for more than you paid for it. It's charged on the profit or "gain" you make, not on the total sale price.

In Cyprus, the first 17,469 EUR of your profit is tax-free for residential property sales (for agricultural land, it's a bit higher). Any profit above this threshold is taxed at a flat rate of 20%.³

If you're selling your main residence, you get a much larger exemption of 87,345 EUR as long as your property is no larger than 1.5 hectares.³

Immovable property transfer levy

The immovable property transfer levy is a new type of property tax that was introduced in 2021.³

You must pay 0.4% of the total sale price to the Central Agency for Equal Distribution of Burdens (CAEDB). This money helps support the Cypriot refugees displaced during past conflicts.³

US tax obligations

As a US citizen or permanent resident, you must also report the sale on your US tax return. The US taxes its citizens on worldwide income, but you may be able to minimize or avoid additional taxes on your property sale depending on your circumstances.

Consider consulting with a knowledgeable tax professional in the US for tax strategies when selling property abroad.

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The process of selling property in Cyprus isn't too different from selling property in the US, but it's recommended to work with a licensed real estate agent and a knowledgeable property lawyer. These professionals can help you market your property and comply with legal requirements.

One often overlooked expense is the cost of transferring your sale proceeds back to the US. Banks charge high fees and offer unfavorable exchange rates that can greatly reduce your profit from the sale.

To send large amounts from Cyprus back to the US with low fees and no exchange rate markups, use Wise.

Sources

1. Numbeo - Cost of Living in Cyprus
2. DOM - What documents are required to sell a property in Cyprus?
3. Developers Cyprus - Selling property in Cyprus
4. Statista - Real Estate Cyprus
5. Cyprus Property News - Understanding costs associated with property sale transactions

Sources checked 05/22/2025