The complete guide to buying property in North Cyprus

Because Northern Cyprus is a developing country, buying property is associated with lower costs and a huge capital growth.

American Forbes magazine has repeatedly mentioned the issue of investment in North Cyprus.

Shahin Zarin Bal website offers free advice in this field and will be with you in the entire process of buying a property. If you are planning to buy a property in North Cyprus, stay tuned until the end of this article.

General information about Cyprus

When you are planning to buy property in a country, it is very important to know the general information about that country. Cyprus is an island located in the eastern Mediterranean Sea and is shaped like a guitar. After the differences between the Turkish and Greek communities in 1974, Cyprus was divided into northern and southern parts. Since then, North Cyprus and South Cyprus have operated as two completely independent countries, with separate governments and presidents. There is also a border between these two parts.

Advantages of buying property in North Cyprus

Buying a property in North Cyprus includes many advantages that we will mention.

1. Reasonable property price in North Cyprus

One of the main advantages of this purchase is the reasonable price of the property in North Cyprus. The cost of buying a house in this area is much lower and more affordable than in other Mediterranean countries. Also, the cost of buying a house in North Cyprus is almost one third of the cost of buying a house in South Cyprus.

2. Annual growth of real estate prices in Northern Cyprus

Property prices in this area increase by an average of 15 to 20 percent annually; Also, the price of foreign currencies is increasing day by day. This makes buying property in North Cyprus one of the safe investments.

3. Staying in Cyprus by buying a property

You do not need to establish a company to buy property, the legal procedures for buying property in North Cyprus are very simple; It is also very easy to live in Cyprus by buying a property. After paying 30-40% of the price of the property, you can immediately proceed to get accommodation for yourself and your family members, which is an easy process and does not require much time.

4. Security of Northern Cyprus

According to the reports of reliable institutions, Northern Cyprus is one of the safest countries in the world.

Getting to know the conditions and rules for buying property in North Cyprus in 2023
To buy a property or apartment in Cyprus, you need a passport and a certificate of no criminal history. With these documents, you can have the right to buy property and invest in North Cyprus.
According to the laws of this country, when a foreigner buys a property or an apartment, even by paying a third of the total price of the property, he can receive a one-year residence permit in Northern Cyprus. As long as you own a property, your residence permit will be extended every year.
In general, any foreigner is allowed to buy an apartment unit, a villa unit or a dunam of land (1338 square meters of land) in North Cyprus. You have to pay half the tax and also in the property deed, there will be a description that this property can be traded only by you and this will be confirmed by the registry office.
The most important thing is that the conditions and rules for buying property in North Cyprus are very simple and clear. By having the required documents and paying the taxes, you can easily buy your property in this area and enjoy the benefits of owning a property in North Cyprus.
Steps to buy property in North Cyprus

The steps for buying a property in North Cyprus are as follows:

1. Checking the required laws and documents:

You can purchase a property in two ways: online and in person.

In both cases, you must present your passport after choosing the property you want. In case of online purchase, you must have an advance payment for the manufacturing company.

2. Advice and property selection

By receiving advice and collecting information, you can choose the property you want.

3. Advance payment

After choosing the property, you need to pay the down payment and the property will be registered in your name.

5. Purchase contract

After the final selection of the property, a formal purchase agreement is signed and must be registered in the Northern Cyprus Notary Public.

6. Obtaining residence

After the registration of the contract, the process of obtaining residence begins.