Best Property in Northern Cyprus
C'est la vie Team

C'est la vie Team

Eco Wellness Resort In North Cyprus

How to Select the Best Property in Northern Cyprus?

Before anything else, deciding if you’re buying for a long-term or short-term investment, a permanent home, or a vacation is essential. The number of rooms, age of the building, window view, number of stories, closeness to infrastructure, and availability of nearby facilities are just a few factors that influence an object’s price.

Let us first know about the points to keep in mind while buying any property:

  • Along with resale value, you should choose an area with significant potential for future growth and development for your new house. 
  • Choose a place with solid infrastructure and amenities. A house is highly valued if it is close to stations, highways, hospitals, schools, and other significant stores.

Things to know before buying a property

  • Decide on a location, organize the finances, set a budget, and more.  
  • Building quality, the availability of water and electricity, the necessity of furnishing and renovating, and the associated costs are all factors that can be considered when choosing properties for sale in Northern Cyprus
Property in Northern Cyprus

Northern Cyprus

The third-biggest island in the Mediterranean is Cyprus. Turkey to the north, Syria to the east, Israel, Palestine, and Lebanon to the southeast, and Egypt to the south are its nearest neighbors. The island has a total surface area of 9251 km2. The TRNC has 3355 km2 of surface area. The nation is home to roughly 350,000 people. Nicosia is the capital. Famagusta, Kyrenia, Güzelyurt, Yeni İskele, and Lefke are the other districts.

No visa is needed to enter the Turkish Republic of Northern Cyprus. The Turkish Lira is used as payment. Ninety-nine percent of TRNC inhabitants are literate, and seven percent have a university degree. On the list of nations where people can live comfortably, the Turkish Republic of Northern Cyprus is number 24. There is a predominantly Mediterranean climate. Winters are moderate and wet, while summers are scorching and dry. Traffic in the TRNC flows from the left, and cars are driven with the right hand.

Steps you can take to buy property  

  • Establish your spending limit: Consider your financial situation and the amount of available money. Also, make sure you qualify for a home loan.  
  • Select a place: Choose a spot that fits your requirements and tastes.  
  • Choose a kind of property: Consider its dimensions and amenities when choosing a property.  
  • Investigate and select properties: Find homes that fit your requirements.  
  • Examine the real estate paperwork: Check the papers for the property to determine who owns it. You should also review the title document to verify who owns the property and that it is in the name of the real estate developer.   
  • Obtain house loan preapproval: If necessary, obtain home loan preapproval for apartments for sale in North Cyprus.
  • Discuss the pricing: Reach a price arrangement with the seller and work out a contract for the purchase.
  • Offer: In every case, submit an offer via a real estate broker.
  • Exercise due diligence, saving time and money, and include a home inspection.
  • Close the deal: Property ownership is transferred at the closing, also known as the “settlement” meeting. 
  • Some other property-buying advice includes choosing a reputable builder, confirming the property’s resale worth, examining extra expenses, using an estate agent, and raising your credit score. 

Foreigners must apply for Permission to Purchase (PTP) from the Ministry of Interior to purchase real estate in Northern Cyprus. During the six—to twelve-month PTP procedure, the buyer can still possess and sell the property. Throughout the procedure, the Ministry of Interior will confer with the army, immigration officials, and land registry regarding Northern Cyprus apartments for sale.

To purchase real estate in Northern Cyprus, follow these steps:

  • Look into and select a property.
  • Decide on the sale price and terms with the vendor.
  • Sign a reservation agreement and provide a 1,000–5,000 pound down payment.
  • Engage a lawyer to look up titles.
  • Sign agreements between the seller and the buyer. 
  • Pay following the conditions specified.

Unless they purchase a foreign or Turkish title, foreigners are restricted to one property or donum of land (14,400 square feet) per individual or married couple. In Northern Cyprus, the typical repayment period for real estate is eight to ten years.

Cyprus Resort has recently announced a FREE 3-day and 2-night tour for all the guests. You must use their promo code ‘ag34’ to enjoy happy moments at the Cyprus Resort. If you plan to buy a studio apartment in North Cyprus, this is your opportunity to do it now, for FREE.

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