Property in Northern Cyprus: Your Guide to Buying, Renting and Living here 2021

Northern Cyprus is a popular place to buy property due to its low cost of living, beautiful beaches and the Northern Cypriot hospitality. However, before you decide on Property in Northern Cyprus as your next destination for real estate investment or vacation rental property it’s important that you know what Northern Cyprus has to offer.

The following blog post will discuss everything from buying property in Northern Cyprus, renting property in Northern Cyprus and even living in Northern Cyprus so read on!

Property in Northern Cyprus

Buying or renting?

You might be weighing the advantages and disadvantages of buying a home in Cyprus before or instead of renting one. Renting in order to test out life in North Cyprus is at first preferred by some new arrivals who have decided to settle in North Cyprus, and knowing that you like the country is important too! If you know that the TRNC is where you want to live, you may want to purchase a home there instead of attempting to move twice or possibly making a long-term rental commitment if you cannot find the home of your dreams. 

New immigrants looking to purchase property are also buying property because of rising prices in key areas. This has also made it more affordable for people of all income levels to own a house sooner rather than later thanks to the introduction of NEW 10-15 year mortgage loans and low credit payment plans.

A great way to invest money is to buy a property in a high demand location with great capital growth potential in North Cyprus. The most ideal scenario is to rent the property out to tourists, if you are not in Cyprus full time.

There is rapid price and demand growth in Kyrenia (Girne) and Famagusta, and in these cities, there are a significant number of British ex-pats. Property development in Kyrenia is booming, and demand for ready apartments is exceeding supply. 

If you are considering purchasing property in or near a city in North Cyprus, be prepared for higher prices. It will cost roughly the same to rent a two-bedroom apartment in the city as it would to rent a three-bedroom villa with a pool in the country. 

Due to it being city property, you can expect it to sell faster. North Cyprus International Advisors are well-versed in property relocations, and can help you compare your options.

It is very likely that you will be asked to sign a six-month rental agreement if you decide to rent a North Cyprus home before purchasing. You can occasionally find six-month long low-cost winter rentals. Additionally, monthly rental prices and facilities such as English schools, such as the English School of Kyrenia, businesses, and shops in the area also rise in tandem with the higher sales prices around the city.

Which part of North Cyprus should I live in?

 North Cyprus’ natural scenery and topography ranges from the rural, mountain, and Karpaz areas’ miles of pristine countryside to forested high mountains reaching a height of 1,952 meters.

Most expats focus on Girne (Kyrenia) and the coast in the north (either west of Girne, Girne itself, or east of Girne) (Bogaz, Bafra and Famagusta City). Nicosia’s (Lefkosia’s) major attractions include great shopping and old historical sites, but this is mostly visited by university students from the city and not residents or tourists.

The vastness of this island is unique, since it is approximately 2,276 square miles in size (about the size of Wales). Go skiing in the morning, then spend the afternoon relaxing on the beach!

Real estate Girne

The landscape of North Cyprus varies in beauty from one place to the next. Your move to the Mediterranean will be affected by a variety of different factors, and your location will be determined by those variables. Will you choose Kyrenia (Girne) and the eastern and western areas of the North Coast for your next vacation? Or should I head to Famagusta, the eastern city? What about the capital city of Nicosia (Lefkosia)?

Lefkosa offers wonderful mosques, markets, and modern urban life, along with several excellent English-speaking universities, including the newly opened Near East University, which offers medical training along with a hospital.

Despite being flatter, the Famagusta coast (Bogaz and Bafra being nearby towards the Karpaz Peninsula’s undisturbed wildlife sanctuary and the newly built Karpaz Gate Marina for sailing enthusiasts) has wonderful long, sandy beaches at a slightly lower price than the Kyrenia coast (with Bogaz and Bafra nearby to the Karpaz Peninsula’s nature reserve and the Karpaz Gate Marina), and offers even better deals when compared to Kyrenia.

You have many different options if you want to retire to the countryside and are open to trying new things. Spring and autumn bring a beautiful hill country with mountaintop villas and a wildlife haven for hikers and walkers in the foothills of the Besparmak Mountains on the North Coast. With miles of beaches and eco-tourism opportunities, as well as traditional craft fairs, the Karpaz Peninsula is an untouched natural haven. An ideal vacation destination for North American tourists is the flatter Eastern seaboard, with its luscious Bogaz Harbor and stylish modern city of Famagusta, as it offers lengthy stretches of golden beaches.

Those who seek peace, calm, and countryside flock to the West Coast Bay Area with its border market town of Morphou (Guzelyurt) and the ancient sites of Vouni Palace and Soli amphitheatre. 

Citrus groves, a beautiful sandy horseshoe bay, and fish restaurants are among the additional tourist attractions that have emerged in recent years. Where traditional and modern crafts, food of all kinds, and Cypriot dancing can be found, many different harvest festivals throughout the year are celebrated.

How to buy a property in North Cyprus?

To buy property in North Cyprus you will need to find real estate agents that are authorized to sell Property in Northern Cyprus. A list of agents can be found on the North Cyprus Property website and these will have a special licence from Northern Cypriot authorities

You may also seek advice from reputable property development companies who are based in Northern Cyprus.

After finding the house that you like, Unless you speak Turkish and reside in the TRNC you would need to make the following steps:

Power of Attorney

You should give a North Cyprus lawyer a limited power of attorney to purchase your property.

Power of attorney establishing in North Cyprus is simple ,. Your passport must be in your possession at all times. This power of attorney has no risk to you because it is used solely to purchase property in North Cyprus. Your lawyer will be in charge of drafting the contract, supervising your application for permission to purchase, checking the property’s legalities, and more.

Visitors usually create a power of attorney while on vacation in North Cyprus so that they can buy property if they are not sure of their decision before leaving. Because you will be away from Northern Cyprus for an extended period of time, it is important that you allow the lawyer to sign documents on your behalf.

Paying Reservation deposit

To remove a property from the market, it is customary to pay a non-refundable deposit of between £1,000 and £2,000. 

This is usually true for properties that are all owned or developed by the same person or company. If you change your mind, it can usually be transferred to another property owned or developed by the same person, but it is not usually refundable.

north cyprus property for sale by owner

Buying and transferring the deed

To register title deeds in your name in North Cyprus, you must first gain TRNC government approval to purchase. For all other potential buyers, permission will almost always be granted, unless there is some form of criminal record or the property was found to be built in an army zone. This takes 6 to 9 months to complete. But, since you own the property until the registration of your contract of sale at the land registry, your property is shielded until that registration is made. You will need to submit a police report from your home country.

All important terms, like plot number, plot size, price, payment schedule, completion date, and penalty clauses, are included in the Contract of Sale if your home is brand new. Everything you need to know about floor plans and specifications will be included in the contract so that the vendor will be held liable to perform the construction as agreed. Resale properties will provide as much information as possible, such as the size of the plot, whether or not furniture is included, and so on. Your lawyer will search the land for legal and possible existing properties, and confirm that they’re all OK.

North Cyprus property for sale by owner

You can buy north cyprus real estate from owner directly through Sahibinden website which means literally in Turkish “From the owner”.

Another website to check property for sale in north Cyprus direct from owners is Kibristailan.

How much does it cost to buy property in Northern Cyprus?

The prices range hugely depending on location but you should expect somewhere around €200-€400 per square metre . You would need to calculate your budget and find a property that suits your needs within this budget.

How to rent property in Northern Cyprus?

To rent property in Northern Cyprus you will need to go through a Northern Cypriot real estate agency and find your next rental home.  You should check out the amount of square footage, number of bedrooms and bathrooms as well as other amenities such as an outdoor pool or tennis court before signing any rental agreements. Rental agreements usually last for six months with monthly payment plans available too!

The average cost for renting property in Northern Cyprus is about €200 per month but this can vary greatly depending on what type of properties are available at that time – so shop around until you find the perfect space! Remember that there is no deposit required when looking to buy property in Northern Cyprus.

Rent property in Northern Cyprus is easier than buying property in Northern Cyprus.  There are many Northern Cypriot real estate agencies that provide rental properties and they usually charge a deposit (usually equal to one or two months rent) and then collect monthly payments from you until the lease expires.

It’s not too hard to find Northern Cypriot accommodation if you know where to look. Check out apartments, villas and holiday rentals.

There are plenty of Northern Cypriots living abroad who want to share their homes with travelers so it can be a very affordable way for tourists and expats alike to live comfortably here – especially on long-term leases.

Living and working in Northern Cyprus

If you’re interested in living property Northern Cyprus there are a number of different options available!  

You could rent a holiday rental home if you want the luxuries during your stay or buy property and settle down for good; however, before taking this step it’s important that you do some research on what life is like as an expat. You’ll be joining one of the fastest growing economies in Europe.

– Northern Cyprus is an affordable place to live, with property prices about a fifth of what they are in Europe.  It’s also close to the beach and you can enjoy nice weather all year round!

– Northern Cypriots have a unique culture which blends Western European customs with Eastern Mediterranean traditions. You’ll find that Northern Cypriot food has been influenced by both countries – such as Turkish coffee shops on every street corner or desserts like baklava sitting alongside Lebanese restaurants serving kebabs.

– The average family income in Northern Cyprus is €2500-€3000 per year, so it’s one of the more affordable places when buying property.  You may need to speak either English or Turkish for certain.

– Northern Cyprus is the fastest growing economy in Europe, offering huge investment opportunities.  It’s also a safe and stable country with low unemployment rates.”

If you’re living in Northern Cyprus and looking to work, there are a number of different options available. Northern Cyprus offers many opportunities for Westerners with skills in the financial, engineering and construction industries. Northern Cypriot universities offer courses in specific fields such as tourism management or finance which could provide good starting points for people looking to work here.

Northern Cypriot universities also offer comprehensive English language courses for non-natives so it’s worth checking them out if you’re not sure whether you’ll be able to find suitable employment here.

Northern Cyprus offers a good quality of life and affordable property prices as well, so you could be living the Northern Cypriot dream before long!

North Cyprus Property Taxes

In addition to the purchase price, three major taxes must be paid, which typically total 8.5 percent. (As of March 2017, this was the case.)

  1. The first is a stamp duty of 0.5 percent.
  2. The second is a 5% government VAT unless the title deed is in the owner’s name and the VAT has already been paid. Please keep in mind that even if the VAT has been paid, you will have to pay it again if the title is not in the seller’s name.
  3. Once the Permission to Purchase has been obtained and the title is available, a 3% transfer of title fee must be paid.

North Cyprus Estate Agents

We conducted extensive research to identify the best real estate agents in North Cyprus who can assist you in finding the property of your dreams.

NCEA Estate Agents

– Provides both buyers and sellers with a range of services, including property advice.

– They also offer free legal consultation to Northern Cypriot residents on buying property in Northern Cyprus or selling your home within Northern Cyprus.

The agent is located at the following address: Akaretler Sokak No. 64, Northern Cyprus

– Contact number: +90 392 324 8701

Email Address: [email protected]

Cyprus Royal Estates

– Northern Cyprus’s leading property service provider.

– They offer a range of services, including full real estate consultancy and legal support for Northern Cypriot residents on buying or selling their home in Northern Cyprus.

The agent is located at the following address: Semih Sancar Caddesi No 39, Girne

– Contact number: (009) 0392 815 0710 / (009) 0533 845 4215

Email Address: [email protected]

Korinia Estate Agency

– Northern Cyprus’s leading real estate agency.

– Korinia offer a full range of services for Northern Cypriot residents, including buying and selling property in Northern Cyprus. They can also provide legal advice to both landlords and tenants on their rights when renting or leasing residential property within Northern Cyprus.

The agent is located at the following address: 100A Karaoglanoglu Caddesi, Karaoglanoglu, Girne.

– Contact number: 0090 392 822 4064  0090 392 822 4065

Email Address: [email protected]

Unwins Estate Agents

– One of the most prominent property management service provider in Northern Cyprus.

– Among the numerous services that they provide are full property consultancy and legal support for residents of Northern Cyprus when purchasing or selling their home.

The agent is located at the following address: Akaretler Sokak No 64 Northern Cyprus

– Contact number:  +90 533 824 3533

Email Address:  [email protected]

Money transfer in North Cyprus

You can transfer money in North Cyprus easily using the services of MoneyGram North Cyprus or Western Union.

The services provide you with the ability to transfer money from and to North Cyprus.

Online shopping in North Cyprus

There are many websites that provide you with the ability to buy online any products in North Cyprus.

You can buy online in TRNC most products, from diary products and food to electronics.