• Overview of North Cyprus
  • Buying Guides
  • How To Buy

Situated in the northeastern part of Cyprus Island, North Cyprus is surrounded by the Mediterranean Sea to its south and Turkey’s mainland to its north. This region boasts a robust infrastructure encompassing reliable transportation networks, utility systems, and public services. Modern amenities are abundant here with well-maintained roads and dependable utilities like electricity and water supply. Two airports, Ercan International Airport (the only operational one) and Geitkale Airport serve this country alongside seaports in Famagusta and Kyrenia which have been closed since 1974 by the Republic of Cyprus.

North Cyprus offers an engaging blend of rich cultural heritage along with diverse attractions such as stunning beaches, ancient ruins, vibrant nightlife, outdoor activities galore. For those who enjoy shopping or dining out there’s plenty on offer too along with world-class leisure facilities. The island’s sunny climate coupled with favourable fiscal policies for expats make it an attractive relocation destination.

Living here comes loaded with benefits including lower living costs, relaxed lifestyle plus a safe environment. Investment opportunities abound thanks to government incentives for foreign investors boosted further by a thriving tourism sector. Home also to numerous top-tier amenities makes North Cyprus appealing for property buyers looking at investment options.

When you consider purchasing an apartment in North Cyprus, several factors come into play. The associated costs include property taxes, transfer fees, maintenance expenses, stamp duty and VAT. While these vary based on the apartment’s size, location and amenities, they generally offer better value compared to other Mediterranean destinations.

North Cyprus presents a high investment potential due to its burgeoning economy and escalating tourism sector. This uptick in tourist numbers has sparked increased demand for rental properties – a trend that translates into higher rental yields and capital appreciation for investors. Rental yields typically range from 4-7% annually.

A broad spectrum of apartments is available for sale in North Cyprus including studios as well as one-, two-, three-bedroom units or larger ones. These can be found across urban or rural settings at varying price points catering to diverse budgets and lifestyles.

Furthermore, the growing rental market offers additional opportunities with apartments being rented out either short-term to tourists or long-term tenants providing consistent income streams for owners. Therefore we believe that investing in a North Cyprus apartment could prove highly beneficial for overseas property buyers.

Where to Buy an Apartment in North Cyprus

North Cyprus’ real estate market is thriving, drawing in an increasing number of international buyers and investors. As property prices here are generally more affordable compared to other European regions, it becomes a compelling choice for investment purposes. The first half of 2022 witnessed a notable upswing in transaction volumes by 200%, alongside a 30% surge in the value of resold houses.

In selecting an apartment’s location within North Cyprus, consider proximity to amenities like shops, restaurants, and public transport for convenience and accessibility. Safety should be prioritised with easy access to medical facilities and schools vital for residents’ welfare and education. Moreover, opt for desirable locales offering pleasant views and outdoor activities enhancing life quality.

Life quality in North Cyprus is exceptional due to its agreeable climate, stunning beaches, relaxed ambiance complemented by breathtaking landscapes vibrant culture, friendly locals. With lower living costs coupled with relatively low crime rates than neighbouring countries make it appealing to those seeking relocation or property investment.

North Cyprus boasts abundant amenities including diverse shopping options entertainment venues along with sports leisure facilities such as golf courses tennis courts swimming pools providing residents ample recreational choices Overall this region offers superior lifestyle benefits making it an attractive destination for purchasing apartments

Contracts:

In North Cyprus, purchasing an apartment necessitates a sale contract between buyer and seller. This document should detail the transaction’s specifics, including purchase price, payment terms, and mutually agreed conditions. The buying process may also involve exchange contracts and mortgages.

Title Deeds:

Legal proof of property ownership in North Cyprus comes in the form of title deeds issued by the Land Registry Office. These documents contain vital information such as owner name, property address, and legal description. Engaging a lawyer with expertise in property transactions is advisable for secure transfer of title deed.

Financing Options:

Cash remains prevalent for apartment purchases in North Cyprus; however bank loans or mortgages are alternatives. Local banks or international lenders can provide these services while developer financing might be an option too. Understanding all costs involved – like taxes, transfer fees & maintenance expenses – aids effective budget planning.

Mortgage Options:

Mortgages present another avenue for acquiring apartments in North Cyprus with varying terms dependent on lender policies and borrower creditworthiness. Comparing different lenders ensures securing optimal deals.

Legal Considerations:

Engaging reputable real estate agents or developers alongside specialised lawyers aids smooth documentation handling during your apartment acquisition process in North Cyprus. Contract comprehension safeguards your interests.

Tax Implications:

Purchasing an apartment incurs tax obligations which vary based on specific circumstances; consulting tax advisors provides clarity regarding potential exemptions or incentives applicable to you.

Additional Expenses:

Beyond the purchase price lie additional expenses: property taxes, transfer fees, maintenance charges & legal fees among others when buying an apartment here at Spot Blue we advise factoring these into your budget calculations.