Upon choosing desired property we recommend reserving selected unit. The reservation can be processed by a bank transfer or directly in our office and is non-refundable. After the reservation is paid, we offer our clients financing through the bank-partner as a possible option.
While selecting the property and planning the budget please consider additional costs such as:
0,5% Stamp Duty
1% Land transfer fee
You will also need to contemplate costs of the following services: solicitor’s fee, water and electricity connection fee, furniture.
In North Cyprus, there is an annual tax – 1.25 TL (0.2 euro) per gross area sqm.
Since March 2010, the consensus amongst international investors is that BOTH types of title deed (These are Pre-74 Title Deeds (include British and Turkish pre-74 Deeds) and TRNC Title Deeds (include what was previously known as Esder or exchange and TMD)) in North Cyprus are equally “safe”. In fact, there is far more risk to yourself in buying from an unverified small developer who has an unpaid debt on his land, than you are by buying a TRNC title deed from an approved developer. A TRNC title deed refers to land, or new property built on land, which is a brand NEW title deed issued by the North Cyprus government since the division of the island in 1974. Any theoretical compensation due to a possible original pre-74 Cypriot landowner (if they are still alive) is since 2010 now being paid in full by the Immovable Property Commission upon application – and this system now has the full recognition of the European Courts of Justice.
We gladly offer to our clients an inspection tour to see all our projects in person. After property is chosen and the reservation is paid, we schedule an inspection tour to Cyprus. The tour includes 3 day stay in one of our projects and visiting all our projects, guided by our representative. A property that was reserved can be upgraded to another unit according to availability. A client will be accompanied by an appointed agent from our office.
Contract of sale should be signed by both parties and registered directly on Cyprus. A client should notify in advance our company of his/her departure to Cyprus. A client is also offered to use solicitor’s service who will represent the party and will sign on its behalf the paperwork.
Foreigners who own a villa or apartment in the TRNC may be granted a 1 year renewable residence permit for the first 3 years, and thereafter 2 years renewable permit provided they have obtained the title deeds (Kocan) registered in their name.
(1 lira currently costs €0.10):
- Water is ca. 10 Lira per cube
- Electricity fee depends on the time of the day - at night 0.7 Lira per square meter, from 7 a.m. to 5 p.m. - 1 Lira, on weekends and from 5 p.m. to 10 p.m. - 1.4 Lira.
Despite the property market for international buyers is relatively new in North Cyprus, property prices have risen at a rapid pace. On average, prices have risen by 5% per year throughout the country and in key investment zones Kyrenia city and Esentepe by 10% per year.
Cyprus can be reached by plane from major German cities such as: Frankfurt am Main, Berlin, Munich, Cologne, Stuttgart, Dortmund, Hanover, Dusseldorf, Hamburg and Memmingen.
Approximate flight time to Larnaca is 3,5 hours.
There is no hindrance on border crossings between the South and The North of Cyprus. Since Cyprus joined the EU in in 2003, borders were opened and it has been easier to travel between the North and South.
Cyprus enjoys an intense Mediterranean climate, with long dry summers from mid–May to mid–October, and mild winters from December to February, which are separated by short autumn and spring seasons. The average annual temperature on the coast is around 24 °C (75 °F) during the day and 14 °C (57 °F) at night.
The official and predominant language in North Cyprus is Turkish. The Turkish Cypriots have a regional dialect that differs from that spoken in mainland Turkey, though the basic language is the same and there are rarely communication difficulties between the two. English, however, is widely spoken as a second language. English is also taught in Cypriot schools.
North Cyprus is perfectly safe and a vast majority of visitors will experience no problems during their visit. Crime numbers are relatively low for a European destination and statistically lower than those in Southern Cyprus. Just exercise the same caution as you would during a trip to any other European destination and you’ll have nothing to worry about.
Alte Rothofstr. 2-4,
60313 Frankfurt am Main
Monday to Friday 10:00 to 18:00
Weekends upon request