North Cyprus Property Buyers FAQs

These Property Buyers FAQs, briefly run through the Process of Property Buying in Northern Cyprus.  For full details and in depth information, contact us and we will immediately appoint you your personal Property Advisor who will take you through the whole property buying process.

The current laws of the Turkish Republic of Northern Cyprus, state non-TRNC citizens may only take title to one Northern Cyprus property and this property is up to a maximum area of 1 Donum (0.33 Acres) per household.

For those Foreign investors who intend making multiple property purchases there will be a need to form a Limited Company and your appointed property advisor is able to run through the procedure of this with you.

The solicitor you appoint will ensure that the property you purchase in North Cyprus is free of encumbrances, charges, liens or debt and that all local taxes and community charges are paid up to date.

Request what legal fees are payable from your Lawyer in advance.  Your appointed property advisor will be able to advise on Lawyers in your local area and in particular should you require, contact details of English speaking lawyers.

Once you have made a Verbal Offer, it is normal for a  reservation deposit to be paid.  This is the time when the property is taken off the market and your Estate Agent will fomalise your offer in writing to you, the vendor and respective lawyers.

Normally Reservation Deposits are non Refundable unless it has been paid specifically on condition that certain factors such as awaiting planning permission documentation and so on are produced.

Exchange of Contracts will normally take place within 2 weeks from the date that you received a formal acceptance to your offer.  At this stage it is expected that your lawyer has completed all necessary searches and drawn up a draft contract of sale.  This contract will reflect all  agreed terms of the offer and sale. Clearly stated in the contract will be the dates when payments have to be made.

When purchasing an off-plan property, the initial stage payment will normally be between 10 – 25% of the property purchase price. All other payments for the property will be conditional upon completion of works or exchange of contract.
When deciding on your budget, remember to add approximately ten percent to the property purchase price in order to allow for all other fees.

The additional fees you can anticipate are for Transfer of Title, Stamp Duty and VAT.