Property Running Costs

1. Local authorities Fees 
Depending on the size of your property, local authorities charge between €50 – €400 per year
 
2. Immovable property tax 
Abolished since 1st January 2017.08.28
 
3. Municipality Tax
As the registered owner of the property, you are required to pay an annual Municipality Tax, calculated on the market value of the property as at 1st of January 1980. Rates vary from 1‰ - 2‰ (€50-€200)
 
4. Sewerage Tax
As the registered owner of the property, you are required to pay every 6 months Sewerage Tax which is calculated on the market value of the property as at 1st of January 2013. Rates vary from 0,1‰ – 1‰.(€70 - €300)
 
5. Communal fees
If your property is part of a complex then communal fees will be payable for the expenses of common shared areas. The amount of communal fees will depend on the size of and the facilities within the development. The residents can vote for a committee who will be in charge of collecting service charges for the maintenance of communal areas and facilities. The service charge usually ranges from €50 - €150 per month.
 
6. Insurance
We recommend that owners insure the property against fire, earthquake and damages as well as its contents. Our insurance and liability advisors can assist you in choosing the right insurance package that suits your requirements.
 
7. Water/Electricity/Telephone/Internet
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41 - 43 Spyros Kyprianou Ave., Patroclos Tower 6th floor, 6051 Larnaca, Cyprus
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+357 24812000
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+357 24635964
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info@patroclos.com.cy