Should you be purchasing in joint names, the operative value for the calculation is halved.

Example
CYP 70,000 =CYP 1500
CYP 35,000 3% =CYP 1050
Next 35,000 3% =CYP 2100

THE TITLE DEEDS
The transferring of the ownership from Vendor to Purchaser is undertaken by a procedure through the Cypriot Land Registry Office, this can be done by the purchaser in person or by appointing a third party with Power of Attorney. The transfer requires two permits:
A permit from the Council of Ministers
A permit from the Central bank of Cyprus
These permits can be obtained from the Cypriot authorities.

IMMOVABLE PROPERTY TAX
The annual property tax is calculated on the market value of the real estate as from the 1stof January 1980. Certain immovable properties are except.

What the annual property tax amounts to in CYP pounds and the rate per thousand %.
100,000 exempt
100,001 – 250,000 2,0
250,000 – 500,000 3,0
Over 500,000 3,5