tax and fees
Cost of house and apartment in Northern Cyprus
The real estate market in Northern Cyprus currently offers the best prices among the Mediterranean countries. The price of buying houses in Cyprus is underway in the coastal areas of 40,000 pounds for the flat and 80,000 pounds for the villa. The flats and luxury hotels are at the best of up to 500 thousand pounds of British pound and luxurious villas to 250 thousand pounds, far less in comparison to similar real estate prices elsewhere in the world.
Types of real estate documents in Cyprus
It is necessary to know a brief introduction to the history of the conflict between Northern Cyprus and South Cyprus before examining the kinds of land documents of Northern Cyprus. After the end of the Cyprus civil war about 40 years ago, a boundary wall was drawn between two northern and southern sides. The northern part of the Republic of Cyprus is renamed the Republic of Northern Cyprus and the southern part of Cyprus. Meanwhile, the properties of a number of people on one side of the border strip and on the other side of the border. Suppose that an angel has a property in the northern Cyprus region and is native to Cyprus or vice versa. So different property documents came after the peace talks.
Property documents in Northern Cyprus are divided into three categories:
Turkish Cypriot title deed (Turkish Title)
The document belongs to land that was originally Cypriot and originally from Northern Cyprus and is currently located in Northern Cyprus. This means that there has been no dispute over the ownership of this property. This type of document is the most expensive type of real estate document in Northern Cyprus.
Cyprus Real Estate Exchange
Since both sides and the governments had lands on the other side, after the peace talks, the governments exchanged the lands by valuing the lands. That is, a number of lands within the territory of Northern Cyprus that belonged to the Southerners were legally and officially exchanged by paying money to the Southerners or by handing over the Northern Cyprus lands located in the Southern Territory to them. Most of the land in Cyprus is like this, and if you ask the registry office, they are exactly the same land as the Turkish one.
Suspended property deed
These properties do not have a specified status or are in the swap process. As far as possible, it should avoid buying and construction on such estates as it is possible to terminate the ownership in the terms of the connection and the integrity of the north and the south and the establishment of the Republic of Cyprus.
Note: All properties offered and transferable by us with official inclusion in the document have Turkish or exchange documents and can be inquired from the Cyprus Registry Office.
Possibility of unification of Northern and Southern Cyprus
If the UN-Cyprus peace talks succeed, Northern Cyprus will be considered part of the territory of the Republic of Cyprus, a member of the European Union, which, according to experts, will see a 2.5 to 3-fold increase in house and property prices. At the moment, the price of a property in Southern Cyprus is up to 2.5 times the price of a property in Northern Cyprus. This is very close to the long-running Cyprus Cypriot peace talks, and it is a great opportunity for people who have bought property in the north.
Annual growth in property prices in Northern Cyprus
The annual growth of real estate investment and property purchase in Northern Cyprus is around 5 to 12% and is more true for pre-sold purchased property. Also due to the relative ingenious of the island and the sudden influx of citizens of other countries to stay (due to the tourist attractions of Northern Cyprus, a large number of travelers come here every year and see the conditions, decide to immigrate and stay in Northern Cyprus), request to buy the property goes up every year and increases in proportion to the price of the property and the house.
The simplicity of the administrative process in recording the document and obtaining the residence of Northern Cyprus
There is no need for the establishment of the company to buy the property in Northern Cyprus, and the administrative procedure and the legal procedures of buying properties on the island are very simple. so that by paying 30 percent of the total amount, the house or property is registered in the name of the client and immediately it is possible to carry out the steps that take a maximum of three weeks.
Payment terms and facilities
Royal Amatis International Company has provided installment payment conditions for customers up to 3 years without interest and up to 6 years with interest. Such conditions make it easier for the customer to pay. The conditions for obtaining residency are the same, regardless of how you pay in installments or in cash. For customers with cash payment, in addition to not paying interest, facilities such as the provision of some kitchen appliances and… as a gift from the company is considered.
Obtaining permanent residence in Northern Cyprus
After staying in Northern Cyprus for 5 years (without the need to live continuously and stay on the island for the entire period), foreigners will be entitled to a 5-year residence card. Northern Cyprus is one of the safest countries in the world to live in. According to the statistics of international organizations, Cyprus ranks first among the small countries with the highest global security and cleanliness of the environment, and fifth among all countries in the world in terms of social security, lack of crime and optimal living conditions.