Should the Purchaser decide to sell the property capital gains tax will be payable at the rate of 20% on the gain. However, the first CYP10, 000 of gain are tax-exempt. If the property is jointly owned by a couple then CYP20, 000 of gain are tax-exempt.
In case where the property has been used by the Vendor as residence for at least 5 years prior to the sale then it is tax-exempt up to CYP50, 000.