Purchasing a home

Hi and welcome in advance to Peyia lol

Hi I dont think VAT is charged extra over against the purchase of the property.

Stamp duty is calculated on the purchase price but transfer tax is calculated on a valuation of what the land registry think the property is worth.

The sale price is agreed by negotiating with the vendor possibly even via their agent and as far as i am aware negotiation or making an offer is always worth it

From  what i can find out from others i know who have bought here

Purchase price is not vatable

vat is charged on things such as lawyers costs stamp duty, transfer fees etc etc

and the people ive spoken to all made offers despite being told that the properties are never overpriced thus  priced to sell -   they made offers and didnt pay the full asking price so id say it would be culturally unacceptable not to haggle

good luck

another friend of mine who is in the realty business said this

"There is no vat on a resale. The taxes are based on an index linked government valuation of the house & bears no resemblance to market value (when you pay they ask if you will be appealing) so some of the sums may be higher than you expect. So be prepared..... An old Immovable Property Tax bill showed us the government valued the house double the market rate"

so be aware

i have some other information for you so will PM you with it as its from a personal friend of mine OK

Thanks Toon. Really invaluable advice. I have PM'd you regarding your friend's advice.