Cyprus101 February 2026 Property & Lifestyle Update
February is an exciting month in Cyprus, bringing with it important property law changes, useful tax updates, and some of the most vibrant cultural events of the year. Whether you’re buying, selling, living in Cyprus, or simply considering a move, here’s what you need to know.
Stamp Duty Abolished in Cyprus from 1 January 2026
A major and very welcome change to Cyprus property law came into effect on 1 January 2026: stamp duty has been officially abolished.
Under new legislation (Law 239(I)/2025), the long-standing Cyprus Stamp Duty Law has been repealed. This means that property sale contracts and other legal documents signed on or after 1 January 2026 are no longer subject to stamp duty.
What has changed?
Stamp duty no longer applies to property sale contracts signed from 1 January 2026 onwards.
This removes both a transaction cost and an administrative step from the buying process.
Important:
Any documents signed before 31 December 2025 remain subject to the previous stamp duty rules and must still be stamped accordingly.
Other standard costs still apply, such as:
Property transfer fees payable to the Land Registry.
VAT on new properties, where applicable.
Local municipal and community charges.
As estate agents based in Paphos, we see this reform as a very positive step for buyers and investors alike.
Selling Property? Capital Gains Tax Exemptions Increased
There is also good news for property sellers in Cyprus.
Capital Gains Tax (CGT) exemptions have been increased, helping owners retain more of their profit, particularly important given the rise in property values over recent years.
Key CGT changes include:
Primary residence exemption increased from €85,430 to €150,000
This means that up to €150,000 of capital gains from the sale of your main home may now be exempt from CGT, subject to the usual qualifying conditions.Increases to other exemptions, including:
General lifetime CGT exemptions.
Agricultural land exemptions, with improved relief in qualifying cases.
If you are considering selling, now may be an excellent time to review your options. Contact us for a free, no-obligation property valuation.
Cyprus Residents: Tax Returns Now Compulsory
As of 2026, filing a tax return in Cyprus is compulsory for everyone over the age of 25, regardless of income level.
If you have not yet updated your tax registration or submitted recent returns, it is important to act promptly.
Key actions include:
Filing your 2024/25 tax return online.
Managing Capital Gains Tax calculations, including mid-year rate changes.
Amending your 2023/24 tax return before the amendment window closes permanently.
Staying compliant now can prevent penalties and complications later, especially if you own or plan to sell property in Cyprus.
Carnival in Cyprus: What It Symbolizes
Carnival is one of the most colourful and lively celebrations in Cyprus. Rooted in tradition, it marks the period before Lent and is a time of joy, music, costumes, and community gatherings.
Historically, Carnival symbolizes:
A celebration of life, humour, and creativity before the reflective Lenten period.
A blend of ancient pagan traditions and Christian customs.
Community spirit, with people of all ages participating in parades, music, and street festivities.
Paphos Carnival 2026
Grand Parade: Saturday, 21 February 2026, at 15:00, Paphos city centre.
Polis Chrysochous Parade: Sunday, 22 February 2026.
Festivities include street parties, themed costumes, music, and dancing throughout the Carnival period.
It is one of the biggest celebrations of the year in the region and a wonderful time to experience local culture.
Green Monday (Kathari Deftera) – Public Holiday
In 2026, Green Monday, also known as Clean Monday (Kathari Deftera), falls on Monday, 23 February 2026.
Significance: Marks the start of the 40-day Lenten period before Orthodox Easter.
Traditions: Families and friends gather outdoors for picnics featuring traditional Lenten, vegetarian foods such as flatbreads, olives, tahini, legumes, and fresh vegetables.
Weekend impact: As it falls on a Monday, it creates a three-day weekend.
Many businesses and services may close or operate on reduced hours, so planning ahead is recommended.
Just for Fun: Aphrodite Bachata Experience 2026
For something a little different, February also brings an exciting international dance event to Paphos.
Aphrodite Bachata Experience 2026
Dates: Friday 6 February to Sunday 8 February 2026
Location: Aliathon Resort, Paphos (Conference Center, Poseidonos Avenue, Yeroskipou)
This all-in-one festival combines accommodation, workshops, and social dancing under one roof. The venue features spacious, well-ventilated dance halls with high-quality flooring, along with performances by internationally renowned artists and DJs.
Whether you’re new to bachata or an experienced dancer, this event promises a lively and memorable Mediterranean weekend.
Featured Property
Peyia – 2-Bedroom Townhouse with Stunning Roof Terrace (MLS 1355)
This attractive townhouse in the popular area of Peyia offers:
Two bedrooms.
Comfortable living spaces.
A standout roof terrace with open views.
Ideal as a holiday home, permanent residence, or investment property.
View full details here:
https://cyprus101.com/property/peyia-2-bed-townhouse-stunning-roof-terrace-mls-1355/
We’re Here to Help
At Cyprus101, we closely monitor changes in property law, taxation, and local developments so our clients can make informed decisions. Whether you’re buying, selling, relocating, or investing, our team is here to guide you every step of the way.
For advice, property viewings, or a free valuation, feel free to contact us anytime.
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