The fees charged by the Department of Land and Surveys for transfers of immovable property are as follows:

Value of Property

Transfer Fees rate

%

Accumulated Fees

0 – 85.000

3

2.550

85.000– 170.000

5

6.800

over 170.000

8

Reduced Transfer Fees

In an effort to revive the real estate market for the six month period commencing 2 December 2011 to 31 December 2014 a transfer subject to VAT will be exempt from the above transfer fees and a transfer not subject to VAT will be eligible for a 50% exemption from the above transfer fees.

Family Transfers

In the case of property transferred to a family company, transfer fees are refundable after five years if the property remains with the company and the shareholders remain the same.

In the case of property transferred from a company whose shareholders are spouses and/or their children, to one of the two spouses, or their children or to a relative up to third degree of relation the transfer fees are calculated on the value of the property as follows:

•       if the transfer is to a spouse - 8%

•       if the transfer is to a child - 4%

•       if the transfer is to a relative - 8%

Also the following rates are applicable in the case of free transfers:

•       from parents to children - 4%

•       between spouses - 8%

•       between third degree relatives - 8%

•       to trustees €8,54

Value in these cases is the one written on the title deed which refers to values of the year 1920.

Other

  • Mortgage registration fees are 1% of the current market value.
  • In the case of companies’ reorganizations, transfers of immovable property are not subject to transfer fees or mortgage registration fees.