FAQ

What are the advantages of buying property in North Cyprus?

• It is very easy to get to the island and after purchasing a property, you and your children can easily get a residence permit status.
• You will no longer need a visa to travel to North Cyprus
• Opportunity to start your own business
• Profitable investment, high income from renting out the real estate, and in the future resale
• Statistics show that Cyprus has a low crime rate
• High demand for real estate

Cost of living in North Cyprus?

Not many people know that the territory of Northern Cyprus has been an independent state for many years with its own president and parliament. Turkey acts as a guarantor of the integrity and security of Northern Cyprus and, at the same time, the standard of living in Northern Cyprus is higher than in Turkey, although the pricing policy of these states is very close. Products are environmentally friendly and prices here are several times lower than on the south side of the island. With an average income, living here will be quite comfortable.

Utility bills are low, and taxes are ridiculous, especially on the real estate. Petrol is much cheaper than in some CIS countries. With all of the above, life on the island is much more attractive than in other European countries.

What is the currency in Northern Cyprus?

Here, the British Pound Sterling, Euro, US Dollar and Turkish Lira are freely and equally used. Usually, the cost of expensive goods and services is considered in pounds. The property market in Northern Cyprus is also in pounds, while the cost of rent in some areas can be in dollars and euros. At the same time, there is no currency control and control of the origin of capital in Northern Cyprus.

 

Is it legal to buy property in North Cyprus?

In Northern Cyprus, as elsewhere, there is different real estate on the market, risky and not. The main factor influencing the risk of a particular property in Northern Cyprus is the type of a title deed.

There are three types of legal title deeds:

1. A Turkish title – is a property that was owned by a Turkish Cypriot before the division of the island in 1974.
2. A Foreign title – is a property that was owned by a foreigner before the division of the island in 1974.
3. Exchange title – is a property that was owned by Greek Cypriot before the division of the island in 1974, then it was withdrawn from him and transferred to the ownership of the Turkish Cypriot as compensation for the loss of his property in the South side of the island.

It is thanks to the title deeds that your property becomes absolutely legal.

What is the average passive income from real estate investments?

Income from the rental guarantee averages between 6 – 8% of the cost of apartments per year.

Income from self-renting housing or through an agency from 7 – 10% per year.

Real estate prices in Northern Cyprus are growing annually by 10%.

If you want to sell your property in a few years, the price will already be much higher.

Do I need to fly to Cyprus to sign the documentation?

No. Documents can be signed with our representatives. But usually, customers who invest with us for the first time prefer to fly to Cyprus in order to make sure that we exist, to look at our completed projects and the progress of construction.

What kind of documents do I receive upon purchase?

We execute a sales agreement and register it in the land registry on your name, even if you have paid only a third of the purchased property and even if the house is still under construction. This is the maximum level of protection of your interests.

How can I financially benefit from my purchase whilst in another country?

We are your personal management company that can take care of everything. If you wish, you can also rent out the property yourself, say, through Airbnb, and we will just meet your guests and provide cleaning and all other necessary services.