Elite property for rent in Cyprus

The applicable law is the Rent Control Law 1983 (N. 23/1983), with amendments. Most areas in Cyprus are under rent control; the tourist areas are not.

The Rent Control Law 1983 governs the landlord and tenant relationship for the areas under rent control, creating specific responsibilities. Mainly, rent in those areas can be regulated by decisions of the Council of Ministers. Tenants in those areas cannot be evicted by the landlord if they pay the rent. This rule is subject to limited exceptions, for example, if the landlord needs the house for themselves, family members or dependent parents. Finally, any lawsuits will be heard by the Rent Control Tribunal.

For the rent-controlled areas, the amount of rent can only be raised by up to 6% until the year 2025.

The areas not under rent control are solely governed by the contract between landlord and tenant (note that there is a contract for areas under rent control too, which is applicable together with the 1983 Law). Tenancies for areas not under rent control are called contractual tenancies. Any lawsuits will go to the ordinary courts, the district courts, and not the Rent Control Tribunal.

The areas not under rent control are tourist areas.

For a property to be under rent control, it must have been constructed and made available for rent by 31 December 1999.

All tenancies under 6 months are contractual tenancies.

Yes, provided three conditions are met. First, the landlord’s rental income is over EUR 15,600. Second, the tenancy began after 17 November 2017. Third, the tenant uses the property for taxable activities, i.e. for the provision of goods and or services.

The general rule in real estate is that the party receiving the property pays stamp duty. In a rental agreement, this is the tenant. Stamp duty must be paid within 30 days of signing the agreement.