Question 1

What is the price for the new property?

Accepted Answer

Property prices in North Cyprus vary based on factors such as type, size, location, and amenities. Several influences on property prices include proximity to the sea, mountains, or city center; availability of title deeds; quality of construction and design; facilities and services offered by the property or complex; and demand and supply in the property market.

Here are some examples of property prices in 2024 for new developments in North Cyprus:

Studio Flat: Starts from £ 100K
1 Bedroom flat: Starts from £ 130K
2 Bedroom flat: Starts from £ 150K
3 Bedroom flat: £ 180K
Detached villa: Starts from £ 399K
Penthouses and unusual properties available upon request.

Question 2

What is the rental return of the investment?

Accepted Answer

Property rental in North Cyprus is a lucrative venture, with an average return ranging from 10% to 15% per year. This return is contingent on factors like location, size, and overall property quality. Occupancy length plays a significant role, with properties experiencing varying rates throughout the year. The dynamic rental market ensures property owners can capitalise on diverse tenant preferences, enhancing the attractiveness of real estate investment in the region.

Question 3

What are all costs of the purchase?

Accepted Answer

To purchase a property in North Cyprus, follow these steps and consider associated fees:

Find a Reputable Estate Agent and Lawyer:
Partner with a reputable estate agent and a qualified lawyer for property search and legal aspects.

Choose a Property and Examine Title Deeds:
Select a property that aligns with your needs and budget. Examine the type of title deed it holds.

Secure with a Sales Contract:
Discuss payment terms with the seller, sign a sales contract, and pay a reservation deposit (usually 35% of the purchase price).

Pay Stamp Duty and Register the Contract:
Pay 0.5% of the contract value as stamp duty. Register the contract at the Land Registry Office to protect your buyer's rights.

Settle VAT, Title Deed Transfer Tax, and Transformer Fees:
Pay 5% VAT of the contract value and 6% or 9% title deed transfer tax based on assessed property value. Cover transformer fees for electricity connection.

Obtain and Register the Title Deed:
Obtain the title deed in your name and register it at the Land Registry Office, completing the purchase.

The total cost varies based on property type, location, condition, exchange rate, and fees from the estate agent and lawyer.

Question 4

Can you become a resident on the island as a foreigner?

Accepted Answer

Yes, as a foreigner, you can apply for residency in North Cyprus. Requirements and procedures may vary, so it's advisable to consult with local authorities or legal experts for accurate and up-to-date information.

Question 5

Is North Cyprus safe?

Accepted Answer

Certainly! North Cyprus is known for its welcoming communities, stunning landscapes, and a generally peaceful environment. The region has a reputation for being safe and secure, making it an attractive destination for residents and visitors alike. The local authorities prioritise the well-being of residents and tourists, contributing to the overall positive and harmonious atmosphere.

Frequently asked questions

What is the price for the new property?

What is the rental return of the investment?

What are all costs of the purchase?

Can you become a resident on the island as a foreigner?

Is North Cyprus safe?

CONTACT

CONTACT

office@cyprus-luxury-estates.com

AJ Prime Investments Ltd.

6 Portland Business Centre

Manor House Lane

SL3 9EG Datchet

England

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Frequently asked questions

What is the price for the new property?

What is the rental return of the investment?

What are all costs of the purchase?

Can you become a resident on the island as a foreigner?

Is North Cyprus safe?

CONTACT

CONTACT

office@cyprus-luxury-estates.com

​

AJ Prime Investments Ltd.

6 Portland Business Centre

Manor House Lane

SL3 9EG Datchet

England

FOLLOW