Good to know

Why Northern-Cyprus?

Cypros is often called as „The pearl of the Mediterranean“. It is the third biggest island in Mediterranean Sea, situated on the crossing of 3 continents – Europe, Asia and Africa, around 70 km from Turkish coast. From east to west there is 240 km and from north to south 100 km. Cyprus is best known for its warm climate, sun, beautiful beaches, turquoise sea, historical places and beautiful nature. There are lot of sightseeing and exciting places to visit- ancient ruins, big temples and museums, mountain villages and beautiful beaches.

Northern-Cyprus makes from the total island 36,5%, population is around 300 000 people, from these 80% are Cyprus turkish people (cypriots), rest are mostly foreigners who have found their new home in Cyprus – from England, Sweden, Norway, Russia etc. Main language spoken by locals is Turkish, but majority of people understand and speak also English language. Cypriots are very warm and hospitable people, criminal activity is almost non-existing.

Main reasons why people choose Northern-Cyprus are good climate, beautiful nature and also cheap prices. Official currency is turkish lira, as it has lost from its value during last year a lot, it has made life for foreigners very favourable. Prices for real estate are considerably cheaper that we have used to see in Europe or Southern-Cyprus. End of last year fuel prices were around 80 eurocents per litre, for 20 euro you will get either from shop few big bags of foodstuff or nice dinner for 2 in local restaurant with candles and wine. Fresh fruits you will get either from your own garden or from local fruit market, wide choice and cheap prices.

For people from the North are of course most important warm weather and sunshine. Usually there are around 300 sunny days per year . Local winter is from December to the end of February, meaning some rainy days and average temperature around 10- 15 degrees. Beginning from March spring starts, this is one of the most beautiful seasons on Cyprus, everything is blossoming and the whole island looks like sea of blossoms! From March to June is for us ideal summer, sunny, temperatures between 25-30 degrees. Same is from September to December. Last year even in November temperature in sea was 24 degrees. July- August is local summer, it is hot and temperature may rise up to 40 degrees. But again, it depends where you are living, in mountains there is always some 5 degrees lower temperature. And mountains in Cyprus are beautiful. Nature in Cyprus is wild and beautiful, there are lot of mountain tracks to walk around and enjoy the nature. As the island is not too big, using your car you can pretty quickly be anywhere you want. Life in the island has its own slow tempo, no hurry, be happy…!

Transport

Cyprus has three international airports:

  • Ercan International Airport (ECN) in Northern Cyprus, near the capital Nicosia (Lefkosa).
  • Larnaca International Airport (LCA) on the south-east coast of South Cyprus;
  • Paphos International Airport (PFO) on the west coast of South Cyprus;

Northern Cyprus must take into account:

  • The easiest way to fly to Northern Cyprus is through Istanbul and Northern Cyprus Airport via Ercan.
  • It is also possible to travel to Northern Cyprus by ferry via Turkey.
  • You must have a valid passport as a travel document to travel to Northern Cyprus.
  • To move around Cyprus, consider renting a car. It is also possible to take a taxi. Public transport is infrequent.
  • Both northern and southern Cyprus have left-hand traffic.
  • There are 7 border crossings between northern and southern Cyprus, and crossing the border is fairly easy, so you actually own the whole island of Cyprus.
  • However, additional insurance must be purchased for the car to cross the border.

Currency

In Northern Cyprus, the Turkish lira is the currency, but in some places you can also pay in pounds sterling, dollars and euros. In recent years, the Turkish lira has depreciated significantly against other currencies, making life relatively favorable compared to Europe and also to southern Cyprus.

Payments to buy Property In Northern-Cyprus

  1. After founding the property you would like to purchase, you  must agree on the sale price and any additional terms with the seller. You will pay the   deposit in amount 1500 -2000 € to your
  2. lawyer account  to confirm  that you are ready to proceed and that the property can be withdrawn from the market. This deposit will be  paid to the seller when the sale contract is signed and registered .
  3. Find yourself a lawyer who represent you in the whole buying process. He  will check the property title deeds and any relevant building paperwork to ensure that all is in order, also check that all the annual property tax and utility bills are all paid up to date and prepare the sale contract and check  at the land registry office to ensure that there is no mortgage or other encumbrance on the property. To be on the safe side, also all payments will be made through your lawyer account. All foreigners need to get permission to buy property (your lawer will handle also this) , it may take from 12 -24 months.
  4. After preparing  the sale contract by your lawyer and it is agreed and signed by both parties.
  5. Payment for your contract will be held through lawyer account . 

Additional payments connected with contract are following:

  • 0.5% Stamp Duty must be paid and your lawyer will then register the contract with the government, so that there is an official record of your purchase on file.  Contract registration gives buyers security during the interim period whilst their title deeds are being processed, so that the current title deed holder cannot use the property as an asset to borrow from banks or make any claim on the property whilst you wait for your new deeds to be issued. After the  contract registration is complete, your funds are released to the seller and you may then receive the keys and take possession of your new property.  Average time line  is usually around 4 to 8 weeks. 
  • Transfer charge in case of your  first property buying will be 3% from contract value. In case of following transactions it will be 6%. It will be paid after Title Deed registration. The only known reasons that people are refused purchase permission are if they have a criminal record, or if the property that they are buying overlooks a military installation.
  • 5% VAT will be also paid after Title Deed registration.
  •  Your lawyer fee may be around 1500  €.
  • Depending on your negotiation skills there may be additional 600 -1000 € for connecting with electricity, gas and water.

NB! As Norther Cyprus is old English colony, all real estate prices are usually showed in english pounds.

 

EnglishEestiРусский