Conditions for buying property in Northern Cyprus: Provides information about buying property in Northern Cyprus and the required documents.

Buying property in North Cyprus has become one of the popular options for investors due to reasonable prices and high profitability. If you are looking to invest abroad, buying a property in North Cyprus can be a good choice. Northern Cyprus has become a destination for investors from all over the world, focusing on attracting foreign capital and developing tourism. Despite its independence and dependence on Turkey, Northern Cyprus is less wealthy than Southern Cyprus, but with continued economic growth in recent years, all areas of Northern Cyprus have made significant progress in infrastructure.

You should also note that if you have a criminal record in any country, you will not be allowed to buy property in Northern Cyprus. Also, before buying a house in North Cyprus, you should do the necessary tests and be physically healthy. In the following, we at Zahouriyan Investment Company will review the steps of buying property in North Cyprus. Next, one of the services provided by Zahoorian Investment Company is investment services in North Cyprus. By visiting the investment services page of Zahoorian Investment Company, you can get free advice about investing in North Cyprus!

Conditions for buying property in North Cyprus

Advantages of buying property in North Cyprus

Buying property in North Cyprus has many advantages in many ways. Among these benefits, we can mention getting temporary residence for you and your family, which is one of the best benefits of buying a property in North Cyprus. Also, property prices in North Cyprus are much more reasonable than in other Mediterranean areas. The price of buying property in North Cyprus is half of the price of property in South Cyprus and Spain, which has added to the attractiveness of this area for investors.

Steps to buy property in North Cyprus

1. Property selection

First, you need to choose the property you want to buy in North Cyprus and agree on the price and payment terms with the seller. Purchase conditions and price may need to be negotiated with the seller. Buying a house in North Cyprus and buying an apartment in North Cyprus each have their own conditions that must be considered.

2. Prepayment

Once you’ve agreed with the seller, you’ll need to pay the landlord a down payment of between £1,000 and £2,000 to guarantee you won’t sell the property to someone else. This amount is paid as a guarantee for the purchase of a property in Northern Cyprus.

3. Real estate survey

After paying the deposit, you should inspect the property in person or through an immigration attorney to confirm the contract. At this stage, you should check that the purchased property is free of any loans, mortgages, debts, etc. If there is a problem in any of these cases, the advance payment amount will be returned to your account and the contract will be canceled. A thorough inspection of real estate in North Cyprus is of great importance.

4. Preparing the contract

The contract for the purchase of property in Northern Cyprus is prepared in English by your lawyer or a valid notary public. In this contract, all terms and conditions of property sale, property specifications, payment plan and other matters are considered. At this stage, any modification or change in the terms of the contract can be made. After both you and the seller reach an agreement, the relevant property contract is signed in a notary office with the presence of two witnesses. Then you have between 10 and 14 days to pay the full amount or (if previously agreed) the first installment of the property.

5. Application for a license to buy property in North Cyprus

Non-Turkish Cypriot buyers must contact the Northern Cyprus Municipal Association to obtain a transfer permit. To buy property in Northern Cyprus you need to apply for a Purchase Permit (PTP). This will cost users between £200 and £1,000. Also, the necessary documents to obtain a license to buy property in North Cyprus include a copy of the passport and a certificate of no criminal record.

6. Transfer of ownership

Once you receive the purchase permit from the North Cyprus Municipal Association, both you and the seller must pay the property transfer tax. The seller will then transfer the title deed to your name at the Northern Cyprus Land Registry Office. According to the new property purchase law in Northern Cyprus, after signing the contract, the buyer must pay the stamp duty within 21 days and register the contract at the Real Estate Registry Office. It should be noted that the stamp duty for buying property in North Cyprus is 0.5% of the total price of the property.

North Cyprus buy property

Conditions for buying property in North Cyprus

The coastal areas of the Mediterranean Sea are the best holiday destinations in the world, but for some people this is not enough and many prefer to make their holidays permanent and stay in North Cyprus forever. Property prices in Northern Cyprus are cheaper than anywhere else in the Mediterranean. The price of buying property in North Cyprus is half of the price of property in South Cyprus and Spain. North Cyprus is an ideal place to buy property thanks to its excellent geographical location and being in a pollution-free area.

Cyprus buy property

Types of property in North Cyprus

In North Cyprus, real estate is sold in different types, which include:

• Turkish property: It is a property that was owned by the Turks before the division of Cyprus into two parts, north and south, in 1974.
• Foreign property: It is a property that was owned by Europeans or other foreigners before 1974.
• Cypriot property: includes all properties that the Cypriot government paid as compensation to Turkish Cypriots who lost their land in the 1974 war.
• TDM property: includes properties that were allocated to Turkish immigrants and working class by the Northern Cyprus government after 1975.
• Leased property: includes government properties that can be purchased on a 49-year long-term lease.

Investment in Northern Cyprus

Investing in North Cyprus is an ideal option for investors due to its geographical location, favorable conditions for life and economic growth. Buying property in North Cyprus, especially for foreigners, can be a simple process but requires compliance with local laws. Real estate investment in North Cyprus is one of the most popular investment methods in the region and has high returns due to reasonable prices and continuous economic growth.

Property prices in Northern Cyprus

The price of land in North Cyprus and the cost of buying a property in North Cyprus are very reasonable compared to other Mediterranean areas. House prices in North Cyprus and apartment prices in North Cyprus also vary depending on the location and type of property. However, compared to South Cyprus and other European regions, prices are very competitive and affordable.

Contract sample and necessary documents

The sample contract for the purchase of property in North Cyprus must include all terms and conditions related to the purchase and sale of property. The necessary documents to buy a property in North Cyprus include a copy of the passport, a certificate of no criminal record and financial documents. You should also make sure that all the legal procedures are followed correctly and the property is transferred to your name without any legal problems.

Advance purchase of property and accommodation in North Cyprus

Pre-buying a property in North Cyprus is also one of the popular ways to buy a property. With this method, you can buy the property you want with suitable payment terms and enjoy its benefits. Also, by buying a property in North Cyprus, you can get North Cyprus residency by buying a property for yourself and your family.

Investment in North Cyprus real estate

Investing in North Cyprus real estate is one of the best ways to earn profit and increase capital. Due to the continuous economic growth and reasonable prices, investing in North Cyprus real estate can have high returns. Buying a house in North Cyprus and buying land in North Cyprus are also good options for investment.

Buying property in South Cyprus

Although buying property in South Cyprus is also an attractive option, prices in South Cyprus are much higher than in North Cyprus. Buying property in South Cyprus is more suitable for those who have more funds to invest.

Finalize the purchase

After completing all the steps and final approval, you can register the ownership of the property in your name. For more information and free advice about buying property in North Cyprus and investment conditions in this area, you can refer to reputable investment companies and benefit from their consulting services.