Buyer's Guide

Why Buy Property in Northern Cyprus?

Apart from the beautiful unspoilt countryside, the dramatic coastline, glorious beaches and the rich historical heritage there are also very good economic reasons for buying property in North Cyprus for all ages and types of property investor.

Northern Cyprus: a stress-free home from home.
With the hectic pace of city life it’s refreshing to find a country where crime levels are low, vandalism is virtually unknown, and air pollution simply not an issue. Kids will love the outdoor life of sun, sea and sand, and Turkish Cypriots love children in return.

No visa required to enter the country.
Tourist visa is usually given for 1 month.  

North Cyprus: great value for money.
A simple visit to a village market shows you just how much more you get for your money in North Cyprus. Since the country grows so much of its own produce you can buy vegetables and fruit fresh from the fields for the equivalent of just a few UK pence. 

North Cyprus sunshine: not just for sunbathing
Did we mention the 300+ days of sunshine in North Cyprus? No wonder most North Cyprus homes have solar panels, which not only heat their water but also provide electricity to power the home. On average all utility bills on a moderate sized property will be less than £100 – per month. 

The holiday property in Northern Cyprus
For a year-round destination with maximum appeal, friendly locals, great beaches, fabulous water sports and a stunning new golf course, North Cyprus is fast becoming a holiday hotspot in the Mediterranean.


 

The only North Cyprus property title that you should consider and indeed the only property title you should be offered is a Turkish Republic of Northern Cyprus (TRNC) freehold. This title comes in four formats.

Pre 1974 Turkish Freehold Title 
This is the title for land or property owned by a Turkish Cypriot before 1974.

Pre 1974 Foreign Freehold Title 
This is the title for land or property owned by a foreign national (i.e. non Turkish Cypriot) before 1974. These titles are recognized internationally.

TRNC Exchange Title 
This is the title for land or property given to a Turkish Cypriot in exchange for land and property they owned in south Cyprus before 1974, and which they were forced to leave behind on moving to the North. The government assessed the value of both land and goods left behind, and allocated the land or property in the North in exchange for the waiving of the rights to their land in the south. The original pre-1974 owner of the land or property would have been Greek Cypriot. This is also known as the Esdeger (pronounced Esh-day-air). 

TRNC TMD Title
This is the title for land given to Turkish Cypriots for military or government service or to Turkish settlers to encourage economic growth in certain parts of the North after 1974. As with the Esdeger the original pre-1974 owner of the land or property would have been Greek Cypriot who abandoned the land or property after 1974.


 

Five easy steps to buying property in Northern Cyprus

Secure your ideal property in North Cyprus 
Once you have found your ideal property in North Cyprus a simple deposit will secure it for you and ensure the property is taken off the open market. 

Find a local solicitor in North Cyprus 
Your North Cyprus solicitor who will look after your interests throughout the buying process including checking on the company you are buying from, organizing your permits required to buy a property as a non-national and confirming the status of the title deeds. In addition the solicitor will also deal with all government paperwork and also draw up the contracts. The government will also assess the transfer fees due on the property based on its value.

North Cyprus Property Contracts 
Once the contract has been scrutinized and both parties agree the contract can be signed.

Final payment on your North Cyprus Property 
Final payment on a freehold North Cyprus property is due on receipt of the purchase permit.

Move in to your North Cyprus villa or apartment!
Now all you have to do is move in and enjoy your new place in the North Cyprus sun!


 

There are some additional charges that the potential North Cyprus property buyer needs to be aware of:

North Cyprus Property Purchase Permit: freehold
All non-nationals buying a freehold property must obtain a property purchase permit from the government. Your North Cyprus solicitor or notary can obtain a permit for you which takes between 12 and 24 months to come through.

North Cyprus District Lands’ Office fees
Upon receiving title deeds you will have to pay tax which is 6% (you have opportunity to pay 3% only once) of the contract sales price. 

VAT on properties in North Cyprus
All property purchases must pay an additional 5% KDV (VAT) on top of the purchase price.

North Cyprus Stamp Duty on properties
Stamp duty of 0.5% is due and payable to the Registry Office if paid within 21 days of signing the contract. If preferred it can be paid after the title deed transfer but 1.5% instead of 0.5%. 

Northern Cyprus Solicitors
Your North Cyprus solicitor’s fees may vary according to the complexity of the sale etc, but will probably be a minimum of £1000-£1350. 

Utilities Connection Fees in North Cyprus
To be connected to the water and electricity supplies will cost around £500-£1000. These costs may not apply if you are buying an apartment in a development. New telephone connections will probably also incur a charge. 

North Cyprus Local taxes and Utilities
Property tax is 1TL for 1sq.m. of your property’s area, with electricity and water making up the major running costs at around £70 per month for a couple in a property without central heating. 

Transformer contribution
These charges are being calculated by the developer and usually do not exceed £1500