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Tax imposed in properties within the UN Buffer Zone

Published on: 21 January 2016

Taxation will be imposed on properties within the Buffer Zone that accumulated value

Property Tax will be imposed from now own on properties within the Un Buffer Zone that accumulated value according to the Revaluation Process held by the Department of Land and Surveys. Head of Land registry, Mr Andreas Socratous announced that the properties affected are mainly those that were given relevant permits by the United Nations and could be used either for agriculture or for other purposes. There are thousands of such properties, from Ayia Napa up to Limnatis and in some cases whole villages are affected.  The taxation will not be imposed in all the properties that are marginally close to areas of the Buffer Zone and are clearly prohibited by the United Nations. These properties will remain in a zero value basis and thus will avoid any taxation. 

 

 

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Urban Keys is a young, fresh, dynamic and innovative agency. Our approach ensures the property sector in Cyprus is consistent to international standards, as well as made to suit a new generation, changing real estate market, and changing economy.

Urban Keys Real Estate & Chartered Surveyors
70, 28th October Avenue
Office 102, Engomi
2414, Nicosia, Cyprus.
Telephone:+357 22 27 00 19
Mobile:+357 99 43 44 51
E-mail:info 'at' urban-keys.com
Website:www.urban-keys.com

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