Buyer's Guide

Buying a property in Northern Cyprus whether a villa or apartment, new build or just land is a major investment so good advice is essential. Here is a brief yet informative guide to how the buying process works.

Further legal information can be found by contacting our recommended lawyers, Naomi Mehmet & Partners www.nmplegal.com.

Foreign Title Deeds Pre-1974
Owned by a British or foreign person with the Kocan (title deed, pronounced kochan) clearly stating this. These deeds are internationally recognised and are safe. In order to have the title deeds transferred into your name you require the approval of the Council of Ministers. This procedure takes approximately 12 months.

Turkish Title Deeds Pre-1974
Owned by a Turkish Cypriot these deeds are internationally recognised, safe and before the property can be registered in your name you require the approval of the Council of Ministers. This procedure takes approximately 12 months. The application to the Council of Ministers is only a formality.

TRNC - Es-Deger Title
This is land or property originally owned by a Greek Cypriot prior to 1974, with new title deeds issued by the Turkish Republic Northern Cyprus government for compensation of land or property owned by Turkish Cypriots given up in the South of Cyprus. He would then sign over his properties in the south to the TRNC government, who in turn would hold them pending a negotiated settlement between both the north and south governments. The Turkish Cypriot would then be issued with new title deed for his recompensed property. TRNC-Es-Deger title deeds are recognised by the Secretary General, Kofi Annan, plan and are safe to purchase.

TRNC - TMD Title Deeds
These properties are with title deeds issued by the TRNC government for various reasons. These title deeds are legal and safe to purchase provided they are invested upon. You will need to invest 100% of the value of the land in its original state plus inflation. Any investment on such land or properties to the value of £3,000 Cyprus pounds (£3,600 Sterling approx.) is guaranteed by the TRNC government and by the Secretary General, Kofi Annan.

Purchasing A Freehold Property Process:-

When decided on a property, agree a price.

Arrange a meeting with your appointed solicitor who will draw up contracts stating the terms of the sale ie: price, timescale, vendors & purchasers details, stage payments etc.

When both parties happy with contract vendor & purchaser sign.

Purchaser pays 20% deposit

Purchase permit is applied for by your solicitor to the Council of Ministers which takes approximately 12 months
Once purchase permit has been received the remaining balance is due from purchaser.

When vendor receives the final payment the Title deeds will be signed into the purchaser name and the sale is officially completed.

If purchasing a leasehold property the whole process is much the same as purchasing a freehold.

The exception being you apply either directly or via your solicitor to the Minister of Tourism who will grant the lease rather then applying to the Minister of Interior for a freehold property.

Purchasing A Leasehold Property Process:-

When decided on a property, agree a price.

Meeting with your appointed solicitor for drawing up of the contracts in which both vendor & purchaser must sign.
Application to Minister of Tourism applied for.

Deposit of 10 - 20% is held for the vendor.

Once application has been granted the sale can continue to completion with the balance remaining being paid and the lease being transferred into the purchaser's name.


Land
Land in Northern Cyprus is measured in donums. 3 donums equals 1 acre, 1 donum equals 1338sq meters.
Foreigners are limited to 1 donum per person or 1 house (husband and wife count as one unless they have different surnames).

Extra Costs:-
In line with the rest of the world there are some additional costs involved when purchasing a property in North Cyprus.

They are as follows:

Solicitor - £1200 - This is a one off fee for the conveyance work.

District Land Office (DLO) - 6% of the estimated value of the home, this is usually lower than the sale price and is based upon the cost to replace the building.

KDV (vat) - 5% This is a one off cost which the majority of the builders in Northern Cyprus include this in the purchase price but this must be stated in the contract.

Council Tax - 1% - This is a one off cost at time of purchase, with no further payments of council tax in the future.

Mains connections - Electricity £500 & Water £200 - Approximately

Flights into Northern Cyprus:-

Ercan Airport has recently undergone a facelift and plans are underway for direct flights. At the moment flights with TRNC airlines, KTA airlines, Onour all fly into Ercan via Turkey.

We would recommend flying into Larnaca Airport in the south and travelling through the border to the North. We have a relationship with an excellent company who will pick you up from the airport, take care of any paperwork needed to speed you through the check point with no delay.