Buying land in Northern Cyprus

Northern Cyprus, a region rich in history surrounded by the beauty of the Mediterranean, is the centre of attention for investors and those interested in purchasing property in Northern Cyprus or buying a house in Northern Cyprus. Although unrecognised by most countries and the UN and under Turkish military control since 1974, Northern Cyprus has become a hotspot for property investment. Supported by a robust economy based mainly on tourism and agricultural exports, as well as support from Turkey, this place offers a unique blend of modern living and rich culture.

This opens up numerous opportunities, especially for those looking to buy property in Northern Cyprus. The region offers everything from modern apartments near the coast to traditional houses in the countryside. Due to a relatively easy and inexpensive purchase process compared to other popular Mediterranean markets, together with a ranking as one of the best coastal regions for investment in 2021 by FORBES Magazine, underlines the attractiveness of Northern Cyprus for those interested in property. With this in mind, KIBRIZ serves as a trusted local agent to help interested buyers realize their dream of owning a home in this fascinating region.

Reasons for buying a property in Northern Cyprus

Northern Cyprus offers a variety of reasons that make it an attractive destination for buying property. Here are some of the key factors that investors and buyers should consider:

1. Diverse property market and stunning landscapes
2. • Northern Cyprus is characterized by its diverse property offerings, from modern apartments near the coast to traditional houses in the rural area.
   • The region offers stunning landscapes, pristine beaches and a rich cultural heritage that caters to all tastes and budgets.
2. Economic benefits and investment opportunities
3. • Tax benefits and incentives for foreign investors: Northern Cyprus attracts with low taxes, easy business registration and a business-friendly environment.
   • Stable and growing economy: With a strong tourism sector and increasing construction, Northern Cyprus offers a stable economic base for investment.
   • Affordable property prices: Compared to other European countries, property prices in Northern Cyprus are lower, making it an attractive destination for investors and buyers looking for affordable options.
3. Quality of life and safety
4. • Climate and lifestyle: With 300 days of sunshine a year, Northern Cyprus offers a pleasant climate and a lifestyle characterized by long summers, mild winters and a variety of leisure activities.
   • Low crime rate and strong community: Northern Cyprus is known for its low crime rate and strong community spirit, making it one of the safest places in the world.
   • Diverse leisure and cultural offerings: From golden sandy beaches to From ancient ruins to historic sites to a vibrant casino industry, Northern Cyprus offers a wide range of activities and experiences.

KIBRIZ, as a local real estate agency, understands the uniqueness of this market and assists buyers in finding the best Northern Cyprus properties that meet their needs. With a deep understanding of the regional dynamics and property market, KIBRIZ offers comprehensive services that simplify the buying process and help investors and home buyers achieve their goals in this fascinating region.

Price trends and market analysis

The property market in Northern Cyprus is experiencing healthy growth, driven by increasing demand from foreign investors and expats. This development has led to a notable increase in property prices over the last three months:

• Apartment prices: A 10.27% increase in apartment prices p.a..
• Apartment rental prices: A 11.57% increase in rental prices.
• Villa sale prices: A 11.33% increase in villa sale prices p.a..

In particular, Kyrenia, one of the most sought-after locations, has the highest average price per square meter for villas. Sales prices here have increased by 11.44%, with an average price of 847.33 £ per square meter, underlining the attractiveness of the region for buyers looking for exclusive housing.

Price trends in different regions also show a dynamic development:

• Gazimağusa: Sales prices for residential units have increased by 11.69%, with an average price per square meter of 750.76 £ and a payback period of 16.9 years. Rental prices for residential units have increased by 11.51%, with an average price per square metre of 3.7£.
• İskele: Selling prices for apartment buildings have increased by 11.46%, with an average price per square metre of 1431.34£.

These developments are due to a combination of increasing demand, limited land supply, a strong rental market and a positive economic outlook in Northern Cyprus. However, the decision to invest in property in Northern Cyprus should include a thorough market value analysis of the region in which one wishes to buy in order to make an informed decision.

Legal aspects and property rights

The process of buying property in Northern Cyprus is straightforward, however, working with a reputable real estate agent who has experience with the local market and legal peculiarities is crucial. KIBRIZ as a local brokerage company offers comprehensive support in these processes:

• Experienced legal advice: It is essential to hire a lawyer who specializes in real estate law in Northern Cyprus. They can help navigate the purchase process and ensure that all legal requirements are met.
• Property rights: There are three types of land titles in Northern Cyprus: Turkish Title Deeds (Türk Koçanı), Equivalent Title Deeds (Eşdeğer Koçan) and Greek Title Deeds (Rum Koçanı). It is recommended to avoid properties with Greek Title Deeds to avoid potential legal complications. All properties in Northern Cyprus are freehold with full title to ownership being transferred to the buyer.

In addition to property rights and the need for experienced legal advice, buyers should also consider the following points:

• Size restrictions for foreigners: Foreigners are allowed to own property, however there are restrictions on the size of land that can be owned. The maximum is 1,338 square metres for a single plot or a house on a plot of up to 6,691 square metres.
• Purchase Permit for Non-Residents: Non-residents require a purchase permit to purchase property in Northern Cyprus. This process can take up to two years. It is advisable to ensure that the property is not located near military bases and to provide a police clearance certificate to increase the chances of approval.
• Risks and Challenges: Potential risks include legal risks due to the unrecognized status of Northern Cyprus as a state, contractual risks, risks related to construction projects and financial risks due to exchange rate and tax differences. It is recommended to conduct thorough due diligence, engage a reputable lawyer and carefully analyse the market before making any decision to purchase property in Northern Cyprus.

KIBRIZ understands the uniqueness of the market and the legal aspects and property rights involved. With a deep understanding of the regional dynamics and the property market, KIBRIZ offers comprehensive services that simplify the buying process and help investors and home buyers achieve their goals in this fascinating region.

Regional highlights and where to buy

If you decide to buy a property in Northern Cyprus, you have a number of attractive locations at your disposal, each offering its own charm and specific advantages. Here is a quick overview of some of the most popular regions and what makes them special:

• Paphos: Known for its historical sights and as a UNESCO World Heritage Site, Paphos offers business opportunities as well as a sunny climate and fair prices. Ideal for those who appreciate history and culture.
• Limassol: This lively city on the south coast of Cyprus is known for its beautiful beaches, modern buildings and good work opportunities. Limassol is a melting pot of cultures and offers numerous entertainment options.
• Nicosia: As the largest city and financial center of Cyprus, Nicosia offers a vibrant culture and rich history. It is unique as the only divided capital in the world.
• Larnaca: With a relatively low cost of living compared to other European cities, beautiful beaches and a diverse expat community, Larnaca is one of the best places to live in Cyprus.
• Famagusta: Known for its historical significance, ancient sites and archaeological ruins, this coastal city in Northern Cyprus offers stunning beaches and a mix of history, natural beauty and economic opportunities.

For those specifically interested in Northern Cyprus, here are some recommended places to buy land:

• Karşıyaka, Kyrenia: Offers stunning sea and mountain views.
• İskele Boğaz: Known for its pristine beaches and tranquil surroundings.
• Yeni Boğaziçi, Famagusta: Ideal for those looking for proximity to cultural attractions.
• Dipkarpaz, İskele: Offers a unique combination of natural beauty and rural charm.

The price range for land in Northern Cyprus ranges from £100,000 to £10,000,000 depending on the location, size and type of land. The property types available include land for sale, land for houses, commercial properties and land for investment.

For more information and to find the perfect plot to suit your needs, contact KIBRIZ. With extensive experience and knowledge of the local market, KIBRIZ can assist you at every step of the buying process.

Building regulations and permitting procedures

Buying a property in Northern Cyprus is an exciting step but requires an understanding of the local building regulations and permitting procedures. Here are the key steps and requirements prospective buyers should be aware of:

1. Approval by the Council of Ministers:
2. • The process begins with applying for approval from the Council of Ministers of Northern Cyprus, which can take between 2 and 6 months.
   • This approval is required to ensure that the purchase complies with local laws and does not endanger national security.
2. Legal Representation:
3. • A lawyer represented by a power of attorney is necessary to represent the buyer in the purchase process. represent.
   • This will check the land registry records for evidence that the seller is the registered owner of the property and that all necessary building permits are in place.
3. Contract and Registration Procedure:
4. • A purchase agreement is drawn up to protect the buyer’s interests, with details such as plot number, size, price, payment schedule and completion date.
   • This contract must be registered with the District Land Registry within 21 days, with stamp duty of 0.5% of the purchase price payable prior to registration is.
   • Once registered, the buyer is protected from the property being sold to a third party and the contract takes precedence over any subsequent encumbrances.

Additional notes:

• A planning permission process is required to ensure that all construction projects comply with local regulations. Once the purchase permit is granted, it is not permitted to build additional dwellings.
• The Electricity Authority will require proof of paid stamp duty before an electricity meter is connected to the property.

These steps demonstrate that while buying a property in Northern Cyprus is a clearly structured process, it requires compliance with local regulations and working with experienced professionals such as KIBRIZ. By working with a local brokerage company, buyers can simplify the process and ensure that all legal requirements are met.

Financing and investment opportunities

North Cyprus House Buying offers comprehensive support and advice for purchasing property in North Cyprus. With a wide range of services and a deep understanding of the local market, the company makes acquiring property easier and safer for investors and private buyers. Here are the key aspects of financing and investment opportunities that prospective buyers should consider:

• Financing options:
• • Cash: The easiest and most straightforward method, often with the possibility of price negotiations.
  • Bank loans: Available to locals and foreigners, although terms may vary depending on the bank.
  • Developer financing: Many developers offer interest-free financing options, which can be particularly attractive to buyers who do not want or cannot pay the full amount immediately.
  • Bitcoin: Some sellers and developers now also accept cryptocurrencies as a means of payment.
• Investment opportunities:
• • Boğaz Life Project: An outstanding example of modern and attractive investment opportunities in Northern Cyprus. With a variety of housing options, from 1+1 to 3+1, this project offers everything your heart desires – from large communal pools to its own shopping district.
  • Location and amenities: Just 600 meters from the Mediterranean coast and close to international airports, tourist hotspots and cultural attractions, the Boğaz Life project offers a perfect balance between holiday and residential options as well as investment opportunities.
  • Payment plan: Flexible design, with a 35% down payment, a further 45% during the construction phase until the keys are handed over and the remaining 20% ​​within 12 months after the keys are handed over, all at a 0% Interest rate.

By working with experienced lawyers and financial experts, Buy a House in North Cyprus ensures that the purchase process runs smoothly and without unexpected obstacles. A satisfied customer from the United Kingdom particularly highlights the interest-free financing and the acceptance of Bitcoin, which underlines the flexibility and modernity of Buy a House in North Cyprus. With increasing demand for residential and tourism properties, a stable political climate and attractive financing options, Northern Cyprus remains a prime destination for property investment.

Quality of life and amenities

When buying property in Northern Cyprus, it is important to take your time, compare prices, seek advice, carefully consider the property type and location and make a well-informed decision to avoid regrets later. Should you not plan to live in the property all year round, property management services may be worth considering to take care of maintenance, rental income and tenant issues.

Northern Cyprus has a well-developed infrastructure that ensures seamless connections to major cities and essential services. The region offers excellent healthcare facilities, educational institutions, leisure facilities, shopping malls, restaurants and cultural attractions for different age groups and interests. The local community contributes to a vibrant social life, with events such as art exhibitions, music festivals and sporting activities.

• Infrastructure and amenities:
• • Healthcare facilities: Modernly equipped hospitals and clinics.
  • Educational facilities: Schools and universities with high educational standards.
  • Leisure facilities: Diverse sports and leisure opportunities.
  • Shopping centres and restaurants: A wide range of shopping and dining options.
  • Cultural attractions: Museums, historical sites and Cultural centers.
• Social life and culture:
• • Events: Art exhibitions, music festivals, sports activities.
  • Unique culture: Influenced by different civilizations, rich history.
  • Historical sites: Explore the rich past of Northern Cyprus.
• Climate and quality of life:
• • Mild, Mediterranean climate: Over 330 days of sunshine per year.
  • Average temperatures: From 15°C in winter up to 40°C in summer.
  • High quality of life: modern infrastructure and diverse leisure opportunities.

Northern Cyprus thus offers a high quality of life with modern infrastructure, including hospitals, schools and universities. The unique culture, influenced by different civilizations, with a rich history and many historical sites, makes Northern Cyprus a special place to live. The mild, Mediterranean climate with over 300 days of sunshine per year and average temperatures of 15 degrees Celsius in winter and 30 degrees Celsius in summer further adds to the region’s appeal.

Completion and steps to purchase

Throughout this article, we have thoroughly examined the many reasons that make Northern Cyprus a desirable location for investors and private buyers, along with the legal, financial and quality of life aspects of a purchase. Northern Cyprus presents itself as a region that not only impresses with its stunning natural beauty and cultural heritage, but also with its economic advantages and stable investment opportunities. With the help of KIBRIZ, a local real estate agency, the buying process is made much easier by providing prospective buyers with extensive knowledge of the market and the region to help them navigate this diverse property market.

With the increasing demand for properties in this rich and diverse region, it is crucial to have a trustworthy partner by your side who will not only help you find the perfect property, but also guide you through the entire buying process. Buy Northern Cyprus property with KIBRIZ to take advantage of these unique opportunities and realize your dream of owning your own home in one of the most picturesque corners of the world. With KIBRIZ’s expertise and support, buying a plot of land or property in Northern Cyprus becomes a safe and well-considered decision.