You can sell the property at any time and with no restrictions.
On disposal of the property, capital gain tax will be payable
at the rate of 20% on the gain with the first CYP 10,000 being
exempt for each person. There is also an indexation allowance.
On top of this allowance, the seller is entitled to a further
allowance regarding the transfer fees paid, inflation rate
per year and cost of any additions made to the house.
Remember to keep evidence of improvements to your property
after taking possession of it, such as invoices, as these will
be useful when the “gain” is calculated.
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