Since November 2016, the VAT rate in the Republic of Cyprus has changed when buying real estate. Now when purchasing a primary property of up to 200 sq.m. (or the first 200 sq. m of real estate, if its area is more than 200 sq. m.), it is necessary to pay VAT at a rate of 5%, and at acquisition of the primary real estate of size more than 200 sq.m. – 19%.