What You Need to Know About North Cyprus Properties

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With over 300 days of golden beaches, stunning countryside, the sunshine, and friendly people, it’s not a surprise that many people all over the world consider purchasing property in North Cyprus. With modern apartments and property developments in Northern Cyprus at reasonable prices, property investors and holidaymakers have a variety to choose from North Cyprus Properties.

Why Invest in North Cyprus Properties?

Northern Cyprus non Euro-Zone Status

The non-Euro-zone status of this country has led to the increase of overseas buyers. The prices of all properties are due to the strong sterling pound which is the international currency of this country. The shops and restaurants here also accept both the pound and Turkish Lira, which is different compared to other Mediterranean destinations, for instance, Greece, Spain, or South Cyprus where properties are priced in euros whose value has fallen. Additionally, the Greek Banking System has become unstable, and it greatly affects both Greece and South Cyprus. This makes it an unfavorable place for property buyers to invest. Lifestyle and property buyers have the perfect environment to invest in Northern Cyprus due to the stable currency and a low cost of living. Additionally, the stable Turkish banks offer favorable interest rates for both lira and pound deposit accounts.

All Are Welcome

Almost everyone in the world who holds a passport can enter and live there without any advance visa as a requirement. Once a person has an address, he or she can apply for residency which is renewable on an annual basis if one can prove that they can support themselves financially. This flexibility makes Northern Cyprus an attractive place to invest for many people who want to invest or even study in the many universities that are located here. Most Universities in Northern Cyprus will teach in English. People planning to reside in this country are advised to contact a qualified lawyer to inquire about visas and residency.

Warm Climate

The Northern Cyprus climate is a big incentive to anybody who wishes to purchase property overseas. The climate in Northern Cyprus has an average of 340 sunny days, and it has the warmest temperatures during winter compared to any other place in Europe. It is also warmer than Turkey which makes it an attractive place for those who want to escape the cold and those who live in very hot areas such as Middle Eastern countries and are looking for a place to purchase their own villa in a mild climate. Unlike the Middle East, there are four seasons in Cyprus, and all of them offer unique attractions that attract nature lovers, walkers, and wild-flower enthusiasts. The climate in Cyprus is favorable for playing golf almost all year.

 

North Cyprus Properties

North Cyprus Properties

Efficient Transport and Communication

Cyprus has two main airports: Lefkosa (Ercan) that is located in the Northern part, and Larnaca that is situated in the Southern part of Cyprus. Property investors who have either a Commonwealth or European passport or a Schengen visa are free to land via the Larnaca airport. This airport offers efficient connections all over the globe. On the other hand, Ercan airport in the Northern part of Cyprus doesn’t require any advance visa, and anyone can affordably and easily fly via Turkey. Flights from the Southern part of Turkey to Ercan are only 40 minutes. Because Cyprus has a central location between the Middle East and the UK, it makes the perfect vacation spot for ex-pat residents of either side. It is located centrally geographically, and it offers mixed culture and climates which make it an ideal point for those who want to explore North Africa, Turkey, or the Middle East and beyond.

Affordable Property

The North Cyprus properties are more affordable compared to other Mediterranean areas including Turkey. The area is also more attractive due to its unique island atmosphere. It has attractive properties that start from £29,000, beautiful two bedroom flats from only £38,000, and three bed-roomed properties or more for only £60,000. Property owners who compare the prices of property with either the Southern part of Cyprus and Turkey find North Cyprus properties are better. Northern Cyprus also has low deposit mortgages for developers who have recently arrived. This allows investors to purchase properties after depositing amounts as low as £10,000. At NorthernLand, we offer a unique property search service, and you can contact us if you don’t find the apartment or villa you want on our website.

People who are planning to sell or buy North Cyprus property or land should know that those trading in real estate or estate agency should be registered with the government. We have passed the strict qualification criteria set by the government, and we are registered under the number 066. Our professionals are familiar with all legal regulations during the purchasing of land, and they can offer you with friendly advice on all aspects of real estate investment and buying of property in Northern Cyprus.

Whether previously owned or new off plan, we offer a range of apartments, villas, penthouses bungalows, holiday flats, or land for investment or building.

Freehold Titles

Different people give news and stories about Northern Cyprus titles. Therefore, it comes naturally that most prospective property buyers want to understand why there are different perspectives on what people talk about. Most of these issues that people discuss about titles arise due to the division of the island that happened in the year 1974. This led to the claims of ownership of property by the Greek Cypriots due to the land that was left behind after their forebears were moved to the south. However, what most people don’t mention is that a similar thing also happened to the Turkish Cypriots who got displaced from their homes from the southern part of Cyprus. Now Northern Cyprus is the Turkish Republic of Northern Cyprus. This means that you can only purchase one freehold title that is the Turkish Republic of Northern Cyprus Freehold Title. Any other concern about ownership of land from Greek Cypriots has now been dispelled by a recent ruling by the European Court of Human Rights because the TRNC government has established a reasonable and fair process to deal with such issues.

The freehold titles are divided into other four variants, and either can apply to your purchase. These include:

  1. Pre. 1974Turkish Title: As the name indicates, this is immovable property or land that was owned by a Turkish Cypriot before the year 1974.
  2. Pre. 1974 Foreign Title: This implies to immovable property or land owned by a foreigner before the year 1974.
  3. TMD Title: This is a title that applies to land that was given to Turkish Cypriot people after the year 1974 to be used for military service and to also encourage incomers to settle. This was meant to enhance the economic progress.
  4. Esdeger (Exchange Title): This title is for land that was awarded to the Turkish Cypriots by the government in exchange for property or land that they were forced to leave when they were fleeing the South in the year 1974.

All these TRNC versions of title deeds are considered to be safe. However, as with other property purchases, it is recommended that a buyer seeks the services of a local solicitor who is experienced in land and property laws. They can help you to determine whether your freehold title is legitimate or if it contains any liens or debts.

Purchasing Leasehold Property

The process of purchasing leasehold is often similar to that of a freehold. However, the application process is made to the Ministry of Tourism. This is a more effective method of obtaining permission to obtain property in North Cyprus. In this process, it is also advisable that one uses and experienced solicitor from the very beginning.

New Building Purchases

When buying a new North Cyprus property, a buyer can agree to give a staged payment plan. The solicitor will draft a contract that includes all specifications including the price, timescale, and payment plan.