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Costs
Running Costs
In purchasing a property in Cyprus one may well be pleasantly
surprised at the running costs of a property. Fortunately
the public services in Cyprus are operated very cost effectively,
albeit you may wait slightly longer for some of these services
than you would in the UK.
Below is a table giving some estimates of the cost that you
should allow for to keep a property in Cyprus. The figures
are all annualised and shown in Cypriot Pounds:
| |
Average
Property |
| Property Management Fee (if applicable) |
25 |
| Buildings & Contents Insurance |
150 |
| Municipal property tax |
25 |
| Sewage Charges |
50 |
| Utilities: Water, Electricity and Television |
200 |
| Refuse Collection |
50 |
| Immovable Property Tax |
300 |
| Total (CYP) |
800 |
This equates to approximately £83 per month in Sterling,
for an average sized property. A small apartment will be significantly
cheaper, especially as the Property Tax could be nil.
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