Would you like to own a North Cyprus property?

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What type of property would you like to own in North Cyprus?

Many people fantasize about spending time under the sun. If you are looking for a vacation property, a place to reside or retire in the future, North Cyprus, unlike many other sun-drenched destinations, is a safe and affordable place to be. The process of selecting and buying a property may be thrilling as well as nerve-wracking.

This blog post will provide you with an overview of everything you should think about while buying property in North Cyprus. This article addresses some common misconceptions about property on the island, discusses purchase expenses, taxes, and the legal processes you will need to negotiate, as well as provide some useful ideas and advice. You can also read our previous blog post to learn about the steps of buying the right property in North Cyprus!

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Thinking about where to buy North Cyprus property?

Once you have decided to buy a home, one of the most important factors to consider is location. When you go on vacation for a few weeks in the summer, all you want to do is relax by the pool and eat at local restaurants. Your choices may differ if you want to live on the island or visit for some months every year. By reading our previous blog post, you can also learn how to complete the property buying process in 4 steps!

When choosing a place, take into consideration the nearby amenities such as shops, hospitals, and cinemas, as well as regions with organized activities such as dancing, pottery lessons, bowling, or cards circles, where you can meet new people and establish friendships. Consider commuting distance if you plan to work; cities such as Kyrenia and Nicosia suffer traffic problems during peak commuting times.

It is worth taking some time before you start looking for a home to think about the type of neighborhood you want to live in, as this will help you narrow down your search to places and property types that are right for you. If you are familiar with North Cyrus, you might already know where you want to reside, but if you have never visited, it is worth spending some time on the island to get a feel for it. The following link provides useful information about the best areas to reside in North Cyprus.

What are the other issues to consider when buying a property?

  • ​Do you wish to live in a building with a lot of other foreigners? Several developers are completing properties in North Cyprus’s more rural areas. These are popular among European immigrants. Near Kyrenia and Famagusta, there are other large complexes that are more popular with Turkish residents and workers. İskele is also among the fast-growing regions with a variety of residential property options for both foreigners and local residents.
  • Do you want to live in a quiet spot around the mountains or another rural area? There are numerous alternatives with locations in the hills above Kyrenia or further afield if you want to live in a traditional-styled property within a rural community. Again, İskele should be among your best options.
  • Do you wish to live in an urban area or near a city with amenities such as hospitals, dentists, cinemas, and shops?
  • Do you want to reside in a location like Lapta or Atalköy, which has a mix of ex-pat and local homes on tiny developments?

These sites benefit from proximity to amenities while remaining only a few kilometers from unspoilt countryside. Living in a remote village might be a wonderful experience if you don’t mind long commutes; but, if you need to be close to a hospital, a position closer to one of the larger towns may be more ideal. Areas like Alsancak, Lapta, and Atalköy are easy for traveling into Kyrenia while still providing rural properties.

Consider whether a large complex with multiple properties used mostly as vacation homes will be suitable when many of the facilities go down in the winter if you plan to live on the island year-round. If you want to buy a home for investment purposes, there are various options available, depending on whether you want to rent it out for a short or lengthy period of time. The İskele long beach region offers the most rewarding opportunities when it comes to investment in North Cyprus.

After you have chosen a location, think about the type of property you will need. The requirements may vary depending on whether you are looking for a vacation house, a retirement home, or a location to live and work. Making a list of your property requirements and deciding which are essential and which are desirable is a smart idea. When you go to an estate agent, be sure to explain your most important requirements so you don’t waste time looking at properties that do not fit your criteria.

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Before opting to pay for any property, visit well-established construction or property investing companies who have a document for each of their houses with all the facts stated, which you can take away or view in the office. Because many smaller companies do not give information sheets, be sure to spell out your most important criteria.

Here are some ideas to consider when you assess your property requirements:

Budget – Set a limit on how much you can spend and stick to it. North Cyprus property prices are negotiable, but be realistic about how much a seller will accept. Include other costs involved with buying a home, such as taxes, which can range from 5% to 6%. For a more thorough breakdown of the applicable property buying rules and taxes, click this link.

​Apartments are normally less expensive than villas and bungalows, though penthouses and luxury apartments may be equally priced. If you only intend to use your property for a few months each year, an apartment or villa with shared facilities managed by a maintenance firm would be a good option, as you can rest assured that your property’s surroundings will be taken care of while you are away.

If you are retiring, having someone take care of your surroundings may allow you to spend more time relaxing. Gardening, on the other hand, is a satisfying and relaxing hobby. Bungalows are a popular solution for folks who have difficulty moving about.

Swimming pool – Having your own pool is a dream come true for many individuals, but keep in mind the maintenance costs. Depending on the current exchange rates, small private swimming pools cost roughly £80 per month to maintain, with upkeep and repair charges thrown in for good measure. Pools in North Cyprus are normally kept in good working order all year, so you pay these charges even when you are not using the pool.

Because the costs and upkeep are shared, a shared pool in a small complex may be more cost-effective. Consider a property without a pool instead; the sea is nearby, and many people prefer to swim in the sea.

Garden/landscape – Because land in North Cyprus is very cheap, you may prefer a property with a lot of space. However, due to rising land costs, the number of possibilities for purchasing a new property with big tracts of land has shrunk drastically in recent years. As a result, the majority of new homes are constructed on relatively small plots.

The distance between detached houses must be at least 2 meters. If you want a house with a huge garden, you will either have to buy an older house or buy land and pay a contractor to design and build a custom home for you. Consider the effort required to maintain a large garden if you choose a property with one. If you buy a vacation house with a large garden, you will need to hire a gardener all year to keep it up in your absence. Maintaining a garden may be a delightful pastime if you are purchasing a home with the intention of retiring.

Historically, community areas around flats and villa complexes have been neglected since the management of communal areas was haphazard and many tenants fail to pay. This is changing as developers must now maintain social areas in apartment complexes for two years after the development is completed, after which they must arrange for an appropriate maintenance solution. Occupants of apartments are now required by law to pay maintenance fees, and they can be hauled to court and forced to pay.

As a result, rather than the prior ad hoc arrangements between tenants, professional property maintenance companies are progressively taking over the maintenance of apartment blocks/complexes. Consider the care of common areas and maintenance arrangements while visiting a property in an apartment building or complex with shared maintenance.

Sun and shade — Cyprus is hot, especially in the summer months of July and August, so finding shade is essential. Consider whether your home has both shaded and sunny areas, as this is vital in Northern European countries. In the winter, a sunny aspect will assist keep your home warm and save money on heating.

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Garage/Car port/Off-street parking — providing shade for your car in the summer is quite important. If the property you are looking at doesn’t have a garage or a car port, is there a suitable space where you could install one later? Because the costs of constructing a simple auto port are low, you may easily add this feature later.

How many and what kind of reception rooms do you need? Many homes have open-plan (American style) living areas, which are wide and properly ventilated in the spring and autumn but can be costly to heat and cool in the winter and summer. Consider whether the home will be easy to heat or cool if you plan to reside in Cyprus all year.

Number of bedrooms and bathrooms – If you reside in North Cyprus, visitors from other countries are likely to come. Consider how frequently you will have visitors and what amenities they will demand. New residences are rapidly adopting the modern trend of having en-suite bathrooms in the majority of rooms. If you only need one or two bathrooms, an older home may be the best option.

Children — if you have children or have family and friends who regularly visit you with children, consider whether the property is suitable for children. Child safety standards are not as strict in the United States as they are in Europe. Is the accommodation acceptable if you have pets? Pets may be prohibited in some apartments.

You can read more from our previous blog post to understand why you should own property in North Cyprus as a foreigner!

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