North Cyprus is one of the fastest-growing economies in the world today. With a population of just 400,000 people, there is plenty of room for expansion. There are many factors in North Cyprus’ favour that make it a desirable place to retire or invest in real estate. The lovely island of Aphrodite enjoys wonderful weather for most of the year.
Over 120 miles of golden sands, secluded coves and sheltered bays all gently lapped by crystal clear waters. There are several distinct kinds of beaches in North Cyprus. These range from well-kept North Cyprus hotel beaches and immaculate beach clubs to kilometres of raw, untamed sandy beaches on the stunning and unspoiled Karpaz peninsula. If you want to purchase a reasonable property in an area with low living costs, whether it’s for personal use or an investment property, Northern Cyprus is a great choice. You can find your ideal property type in North Cyprus, being that an apartment, a villa or a house. Independently of your property budget, we have plenty of options for you.
Why Invest in Property in North Cyprus
North Cyprus is home to a modern, free-market, service-based economy that encourages both domestic and foreign companies to invest, grow, and succeed. The consumer market is particularly strong, and the tertiary services sector is recognised as the foundation of the nation’s economy.
Investment opportunities abound in North Cyprus. You will find plenty of investment options in real estate.
Investors and expats moving abroad are the two main categories of foreign clients for property sales in Northern Cyprus. The beautiful weather, low cost of living, affordable housing, lack of crime, and access to fresh foods have been the key factors driving home purchases in North Cyprus over the years.
North Cyprus is now more popular than ever as a place to buy real estate. First, primarily middle-class expats prefer to retire there, followed by younger families searching for low crime, affordable housing, and good schools for their children.
Nowadays, more and more individuals are learning about North Cyprus and comparing property prices around the world thanks to the internet, the influence of YouTube, and social media. The property market in North Cyprus has seen an increase in interest from foreign investors in this new period.
In addition to being a promising investment for buyers, North Cyprus is also growing in popularity as a place to live and retire.
There are numerous benefits to purchasing property in Northern Cyprus, including the following:
- Developing nation
- Highest-growing international students
- Expanding tourism sector
- Limited area and development land
- Geographic position
- Expats who relocate abroad
- Low-cost relocation and affordable real estate
- Easy access from the Middle East, Africa, Asia, and Europe
- Opportunities for offshore investment
- A growing number of blockchain and cryptocurrency investors are congregating there
- Fantastic sunny and pleasant conditions
- Healthy foods
- Amiable locals
- Very low rates of crime
Advantages Of Buying A Property In North Cyprus After Brexit
You are not permitted to utilise a home you purchase in Spain, Portugal, or Italy for more than 90 days in a 180-day period (unless you have a bucket load of money).
If you purchase a property in North Cyprus, you can use it whenever you want without any limitations or tax repercussions that come with purchasing in the EU. Along with probably having a sea view, it will likely cost less than half of what you would pay in Spain, Portugal or Italy, even in luxury apartments!
Is Buying A House In North Cyprus Right For Me?
North Cyprus property is a great investment opportunity and there are many reasons why you should consider buying property in the north of Cyprus. The main reason is that it’s an excellent place to live, with its beautiful beaches, warm climate and stunning scenery. It also has some of the best schools in Europe, as well as plenty of other facilities such as healthcare centres, shopping malls and restaurants.
Buying a house in North Cyprus isn’t, however, right for everyone. You need to think about what you want out of life when deciding whether or not to move abroad.
Before you decide to buy a property in North Cyprus, there are some things you should know. These questions will help you decide if North Cyprus is the right place for you.
What languages do people speak in northern Cyprus?
People who live in Northern Cyprus speak Turkish and English. English is widely spoken in Northern Cyprus.
Do I need a visa to enter Northern Cyprus?
No, you don’t need a visa to enter North Cyprus. However, if you plan to stay more than 90 days, you must apply for a tourist permit.
Can you get residency in northern Cyprus if I buy a house?
Yes, you can apply for residency in Northern Cyprus once you’ve bought a property. However, this process takes time and requires you to provide evidence of your financial situation.
Is property cheap in northern Cyprus?
Prices for real estate are lower than in Southern Cyprus. Compared to Turkey and many other Mediterranean countries, North Cyprus real estate is far less expensive.
What is the weather like in North Cyprus?
North Cyprus has a Mediterranean climate. The average temperature during the summer months (May – October) is 25°C. During winter months (November – April), the average temperature is 18°C. In general, the weather is pleasant year-round.
Is northern Cyprus a good place to live?
North Cyprus welcomes expats and has quite a large expat community. The cost of living in the North is significantly lower than in the south (Republic of Cyprus). If you want a great value-for-money holiday home or a retirement destination in a beautiful Mediterranean setting, then North Cyprus can be a perfect choice.
Where do most expats live in North Cyprus?
Alsancak and Esentepe are the two towns that foreigners in the Kyrenia region like to live in. Both have sizable expat populations and lots of amenities nearby. There is a national park in Alsancak with routes for running and walking.
Which Area Is Best For Families?
Families often like to live in quieter suburbs such as Örencik or Çavuştepeler. They enjoy having space to play and relax without being disturbed by noise from traffic.
However, these areas may not suit everyone. If you’re planning on moving to North Cyprus with children, make sure you look at all the options before making your decision. You might want to consider renting a holiday North Cyprus apartment while you decide on the best location and search for an apartment to buy.
Can I retire in Northern Cyprus?
More than everywhere else in all of Europe, retirement is simpler here. Your passport will be stamped for a thirty or ninety-day visit when you arrive at Ercan Airport. Both fees and a visa are not necessary. Use that opportunity to search for the seaside property of your dreams.
The largest obstacle to acquiring a Permanent Residency Permit is the purchase of your home. Your driver’s licence is valid in this country for 90 days, and for the first 10 days or so, most people get a rental automobile.
Some insurance companies will handle obtaining your licence on your behalf, and the procedure is straightforward. Due to several recent mishaps, the code might change, and you might eventually need to show up at the office.
When your new licence is issued, you won’t be required to give up your old one. This comes in helpful whether you wish to travel abroad or need to fly home.
The ex-pat community is supported by the president of The TRNC, Ersin Tatar. In reality, he met with members of The British Residents Society early in his administration. It is well known that President Tatar intends to facilitate the transfer of more retirees. Non-citizens now have the option of doing things like casting a ballot in local elections.
In addition, North Cyprus provides retirees a very laid-back lifestyle. You can work in the garden, visit several restaurants, spend time by the pool or the beach, go on a wine-tasting excursion, or have a spa day here. But there is definitely a lot to do and get involved in if you want to be active at the same time.
Residency Requirements For North Cyprus
Your passport will be stamped with a thirty, sixty, or ninety-day stamp when you first enter North Cyprus. The reason for your visit will influence which one you get. Before the officer stamps your passport, make sure he is aware of any property owner.
Knowing which stamp you have is crucial since you have until the end of your visa to leave the country or seek residency (stamp). As a side note, this legislation treats all types of residence permits (like a work permit) equally. Once you’ve applied, there are no repercussions if the Visa expires before the permit is accepted. Yes, this is usual.
Most foreign nationals who request a residence permit have real estate in North Cyprus. Of course, there are a lot more categories, like yacht crew and students. However, the vast majority will be granted a high-income permit as a property owner or family member.
You will be given a one-year permit during your initial permit period. After receiving your third permission, longer terms are possible. The duration of your permission is also impacted by the status of your deed (Kocan).
An Immovable Property permit has two subcategories. The home’s family (including Spouse) and the owner.
The actual application process has migrated to an internet website and is not too complex. There are no other languages available on the Turkish-language website. Odd when you consider that it is for foreign immigration. There are several online resources with translations.
All inquiries will be answered when you first arrive at the local immigration office within the police station. Although they are supposed to interview you, the questions typically seem to go in the other direction. They will be very useful to you throughout this procedure.
Banking in Northern Cyprus
The banking structure of North Cyprus is modelled on that of Turkey. Commercial banks, the majority of which are Turkish (or joint) financial institutions, and international bank branches abide by the local Central Bank’s regulations.
There are several banks in Northern Cyprus. Most of them offer foreign currency exchange services. Some of them have ATMs which accept all major credit cards.
This region’s historically “boom and bust” economy has resulted in a well-organized and efficient financial sector with strong linkages to numerous foreign institutions, including Barclays, Natwest, and HSBC. In Northern Cyprus banks, opening an account is a pretty basic and easy process. Your account can be opened in the currency of your choice, including British Pounds, US Dollars, Euros, and the Turkish Lira, which is the currency used in Northern Cyprus.
Medical Facilities in North Cyprus
The infrastructure and progress in medical facilities in this region of the world have advanced beyond any comprehension. First, the modernization of North Cyprus hospitals has occurred, and the pursuit of knowledge has allowed the universities in Northern Cyprus to participate, with medical colleges considerably assisting in investigative tasks. Even with these encouraging moves, medical insurance is still approached with caution, with many prospective homeowners in North Cyprus purchasing private health insurance from foreign sources.
Can I use public hospitals in North Cyprus?
Yes, you have the right to use public hospitals if you have a residency. However, you need to have health insurance in place before you can apply for residency. The Koop Bank in Nicosia is where you can apply for the North Cyprus national health insurance, which will cost you about £45 a year. It provides a 20% discount on treatments and covers the use of a State ambulance (112 Emergency Ambulance Service).
Northern Cyprus Car Hire
There are plenty of car rental agencies in North Cyprus so it should not be difficult to get a good deal.
If you plan to rent a car in Northern Cyprus, you should bear the following in mind:
- In Northern Cyprus, traffic moves on the left
- You must have a valid driver’s licence from your home country
- Driver’s licences from other countries are only good for three months after entering Northern Cyprus
- Highway speed restrictions range from 65 to 60 km/h to 100 km/h
- Radar and camera equipment is used to enforce speed limits
- All front-seat occupants must use seatbelts
- The front passenger seat is not suitable for children
- It is prohibited to use a cell phone while operating a vehicle
- As in any other nation, you shouldn’t drive after drinking
- Rental vehicles cannot be transported to the island’s south (South Cyprus, over the green line)
- You must typically be at least 25 years old to hire a car from a rental company
What to Expect When Buying Property in North Cyprus
There are no restrictions on foreigners owning property in North Cyprus. You will, however, need to hire your own lawyer and accountant. They will help you understand the legal system and how things work in the area.
When you purchase property in North Cyprus, you will receive a contract. You will need to sign the contract and send it back to the seller. After signing the contract, you will need to pay a deposit. The amount depends on the type of property you are purchasing. After paying the deposit, you must make monthly payments until you complete the payment period.
You will need to pay taxes on your property. Taxes depend on the value of the property.
In addition, you should know that you cannot buy property in North Cyprus without getting a permit first. If you plan to live in North Cyprus permanently, you must apply for residency status.
If you are planning to rent out your property, you will need to register it with the Ministry of Justice.
What is the process of purchasing a property in North Cyprus like?
The vendor and the buyer, with the assistance of a designated attorney, draught a contract in which specifics such as the agreed-upon price, completion date, and any other relevant conditions are entered and signed by both parties. The buyer at this point pays a 10% deposit. In order to purchase the property, the buyer’s solicitor must first obtain a permit from the Council of Ministers, which could take six to nine months to process. Once the permit has been granted, the buyer must pay the remaining balance, at which point the seller must sign a document transferring all ownership rights and transfer the title deeds to the buyer.
Property in Northern Cyprus
Find properties in North Cyprus with Spot Blue. Spot Blue International Property are based in London, United Kingdom. We offer a first-class service to our valued clients whether they are purchasing land or property in the UK or in one of our international locations.
If you are looking for property for sale in North Cyprus, you have come to the right place https://www.spotblue.com/! Spot Blue has North Cyprus property in all the major towns: from a villa with a private pool in Karpaz, a single bedroom apartment in Kyrenia or a big penthouse in Famagusta, we have a wide range of properties for all needs. Can you imagine the property of your dreams with beautiful panoramic views over the valleys or renowned golden beaches? We can help you find your perfect home!
Property in Kyrenia
Excellent travel and exploration opportunities exist in Kyrenia (Girne). After exploring the many stores and markets in Kyrenia centre, you can unwind in one of the many bars and restaurants that are located around the harbour.
When it was at its busiest, Kyrenia Harbour was lined with warehouses where the agricultural products were kept while they awaited export. The majority of the buildings in the harbour are now restaurants with outdoor seating along the water, and the majority of the vessels that use it today are pleasure craft. The harbour is the location to be seen and heard at night, particularly in the summer. Enjoy a relaxing meal with your family or a fun drink with your pals.
Property in Karpaz
Some people consider the golden beaches of the Karpaz peninsular to be among the best in Europe, if not the entire globe. The area has some of Cyprus’ best beaches. Environmental preservation and protection are top priorities in this area because of the pristine, clear seas that attract endangered green sea turtles that return every year to lay their eggs. All the care in the area makes for the most spectacular sea views of the Mediterranean Sea.
Imagine spending the entire day on a beautiful sandy beach, swimming in clear waters, and even setting up camp overnight to witness sea turtles coming ashore to lay their eggs. It is a serene and tranquil spot where one can connect with nature.
Property in Nicosia
The capital and biggest city of the Turkish Republic of Northern Cyprus (TRNC), which has a population of about 73,000, is Nicosia (Lefkosa). It serves as the location for the main government offices as well as the offices of the European Commission and the United Nations. The “green line” barrier separates the northern (Turkish) and southern (Greek) portions of Lefkosa, making it the last remaining capital city in the world that is still divided. However, since 2003, there have been no limitations on border crossings for EU nationals in Cyprus. By presenting their ID cards or passports at crossing points that are open 24 hours a day, they are free to cross and spend as much time as they want on either side of the border.
Property in Morphou
Citrus orchards and fresh markets in Morphou (Guzelyurt) are well-known for their aromatic local food. This market town, which is in the west of North Cyprus, is different from other tourist destinations since it offers a very calm pace of life amid stunningly rural surroundings. Guzelyurt is particularly well-known for its yearly Orange Festival, a significant occasion that lasts for two weeks.
You may sample the region’s incredibly juicy strawberries and citrus fruits, such as orange, lemon, and grapefruit, at the local covered market in Morphou, which is known as the fruit-bowl of North Cyprus and one of the island’s greenest and richest agricultural areas.
Property in Famagusta
Famagusta (Gazimagusa) is blessed with lovely beaches, first-rate amenities, and clean, secure swimming and snorkelling areas. The bay itself is a stretch of golden sand, making this harbour town an excellent summer vacation spot. The old town of Gazimagusa, which has been restored and made pedestrian since 1996, is a genuine outdoor museum and a real treat to wander, take in the sunshine, and people-watch in lovely cafes. It serves as a great centre for dining out, shopping, and entertainment. When visiting North Cyprus, a day trip to Salamis’ extensive Roman ruins and beaches is a must. Gazimagusa is also close by.
Choosing The Right Property For You in North Cyprus
The first thing to consider when buying a property is located. If you are looking at investing in real estate then you need to make sure that your chosen area has good transport links and easy access to major cities. You should also take into account the local amenities such as schools, shops, restaurants and banks. By scheduling an inspection trip, you may solve all of these issues and have a clear understanding of the surroundings of your preferred location.
A property is a great investment and can be used as an income-producing asset or to live in, but it’s also important that you buy the right one. We are your trusted North Cyprus estate agent. We can help you find the perfect property for sale in North Cyprus as well as take care of your property management for your peace of mind. Call us on +44 (0) 208 339 6036 or email: [email protected] for more information on any of our properties or to book a visit. You can also browse our listings here in our site: www.spotblue.com
Which airport do you fly to for Northern Cyprus?
This area only has one North Cyprus international airport: Ercan International Airport (ECN). It’s also known as Lefkosa (Nicosia) Airport.
Can foreigners buy property in northern Cyprus?
Yes, foreigners are welcome to own a home in North Cyprus. It’s a simple procedure that involves submitting a clear police check and getting approval from the Council of Ministers.
However, if you decide to invest in real estate, it is advisable to hire a lawyer to assist you with the process.
Are there any restrictions on foreign ownership of land in northern Cyprus?
There are no restrictions on the purchase of land in Northern Cyprus. However it is important to know that the government will impose taxes on properties owned by non-residents. This tax applies to both residential and commercial properties.
Is it a good time to buy property in North Cyprus?
The real estate prices in Northern Cyprus are still relatively low compared to European countries. This makes it a good time to invest in real estate.
Can you visit Cyprus from north Cyprus?
Yes, you could visit Cyprus from Northern Cyprus. The distance between these 2 countries is about 3 hours and 15 minutes. The main route between Northern Cyprus and Cyprus is via the E65 highway. This road connects the capital city of Northern Cyprus, Kyrenia, with Nicosia, the capital of Cyprus. From Nicosia, you can take the E90 motorway towards Paphos, Larnaca, Limassol, and Protaras.
Can you drive a rental car into North Cyprus?
You are permitted to drive your hired vehicle across the border into North Cyprus if you rent it in the southern part of Cyprus. However, if you rent a car in the northern part of Cyprus, you cannot drive it across the border. You are permitted to cross the border with your own vehicle.
What currency is used in north Cyprus?
Northern Cyprus uses Turkish lira. There are ATMs all around the island that accept foreign cards. You can exchange money at banks or forex bureaus.
Is there any danger when visiting northern Cyprus?
There is always some risk involved when travelling anywhere. The north is governed by the self-declared “Turkish Republic of Northern Cyprus” (TRNC). In the UN buffer zone, violent incidents might happen, especially when there are large-scale gatherings. Avoid protests. Be on the lookout for pickpockets and bag snatchers, especially in tourist areas.
Are there any employment opportunities in North Cyprus?
There are many opportunities for those who wish to make a living in Northern Cyprus.
Some expats choose to work in tourism, banking, construction, agriculture, manufacturing, engineering, medicine, education, IT, etc. Others choose to start their own business.
Many companies prefer hiring locals over foreigners. Therefore, you should try to find a company that is interested in hiring foreign workers.
How long can you stay in north Cyprus?
The TRNC has designated ports and border crossings where visitors may stay for up to 90 days in a 180-day period. All visitors from outside the country who plan to stay in the TRNC for more than 90 days must apply for a resident permit.
Do I need a permit to live in North Cyprus?
If your stay exceeds three months, you will need to apply for a residence permit. You can also apply for a residence permit if you work in North Cyprus. It is also possible to obtain a residence permit through marriage or family reunification.
How do I pay taxes in northern Cyprus?
You must pay taxes to the government at least once every year. Taxes are paid using either cash or credit cards.
Taxes are collected by the municipality of each city where you reside. If you own multiple properties, you will be required to file separate returns for each property.
When filing your return, you must attach a copy of your passport and proof of residency (such as an electricity bill).