Cyprus-Forum.com

[Sotos]

OK I want your opinion not wishful thinking On January 1st the VAT on land will be introduced. Do you think it will affect demand negatively? Who will absorb the VAT? The buyer, seller or both? Do you think it is a good time to buy some land now before the VAT?

[Get Real!]

OK I want your opinion not wishful thinking On January 1st the VAT on land will be introduced. Do you think it will affect demand negatively? Who will absorb the VAT? The buyer, seller or both? Do you think it is a good time to buy some land now before the VAT?

You are probably aware by now of the first home owners VAT rebate scheme right? So you might want to ask the appropriate authority if future land purchases (attracting a VAT) will also be covered by this scheme.

[pantheman]

OK I want your opinion not wishful thinking On January 1st the VAT on land will be introduced. Do you think it will affect demand negatively? Who will absorb the VAT? The buyer, seller or both? Do you think it is a good time to buy some land now before the VAT?

You are probably aware by now of the first home owners VAT rebate scheme right? So you might want to ask the appropriate authority if future land purchases (attracting a VAT) will also be covered by this scheme.

This VAT you can only claim on a property upto 250m2 and you can only claim 10% of the vat, meaning not the full 15% vat that you would have paid.

I don't suspect that the land will be covered by this.

As for buying land, if you have the money and you know of a decent piece, buy it anyway. Cos later you won't be able to afford it.

Land is reducing in cyprus so who ever has it has it.

I once went to a property seminar and a the guy giving the seminar asked a question "When is the best time to buy?" and the answer is NOW, cos later you will be paying more for the same stuff. How right he was.

best of luck anyway.

[oranos64]

good bye housing boom

1 the euro ..
2 vat on land and property
3 dodgy bad quality housing
4 shody builders
5 cheaper and better quality in bulgaria and romainia

[Sotos]

I once went to a property seminar and a the guy giving the seminar asked a question "When is the best time to buy?" and the answer is NOW, cos later you will be paying more for the same stuff. How right he was.

if I buy a plot now 100.000 will I be able to sell it after a year for 125.000 including the VAT?

[Get Real!]

I once went to a property seminar and a the guy giving the seminar asked a question "When is the best time to buy?" and the answer is NOW, cos later you will be paying more for the same stuff. How right he was.

if I buy a plot now 100.000 will I be able to sell it after a year for 125.000 including the VAT?

Nobody can possibly determine that Soto; that falls under "speculation" only attempted by speculators who are often wrong, and you're best bet; although not necessarily true, is to research statistics for the last 5 years or whatever. Perhaps here...

http://www.nationmaster.com/country/cy-cyprus

[dinos]

I was under the impression that only newly constructed housing was VATable, but guess I was wrong?

[Sotos]

I was under the impression that only newly constructed housing was VATable, but guess I was wrong?

VAT on land will be introduced in January. I don't know if that is for all land or just plots.

[Oneness]

The last I heard about this from a source in Cyprus is that this buyer's land VAT, which was due for January 2008, has been rescheduled to 2010. Can anybody qualify my information?

[Peterc]

OK I want your opinion not wishful thinking On January 1st the VAT on land will be introduced. Do you think it will affect demand negatively? Who will absorb the VAT? The buyer, seller or both? Do you think it is a good time to buy some land now before the VAT?

You are probably aware by now of the first home owners VAT rebate scheme right? So you might want to ask the appropriate authority if future land purchases (attracting a VAT) will also be covered by this scheme.

This VAT you can only claim on a property upto 250m2 and you can only claim 10% of the vat, meaning not the full 15% vat that you would have paid.
I don't suspect that the land will be covered by this.

As for buying land, if you have the money and you know of a decent piece, buy it anyway. Cos later you won't be able to afford it.

Land is reducing in cyprus so who ever has it has it.

I once went to a property seminar and a the guy giving the seminar asked a question "When is the best time to buy?" and the answer is NOW, cos later you will be paying more for the same stuff. How right he was.

best of luck anyway.

the property has to be below 250 square metres but you only receive 10% rebate up to 130 square metres, therefore you do not receive 10% on the remaining 120 square metres if your house is 250 square metres.
DID THAT MAKE SENSE?