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Since the passing of the new North Cyprus Property Purchase Regulations on 21st May 2024, at North Cyprus International we have created this new Property Buying Guide to take overseas buyers step by step through their new villa or apartment purchase. This new “one stop shop” guide will ensure that your property will comply with all the new rules. If you have any queries, please contact us.
Which North Cyprus property agency should I use for property viewings?
It is important to choose an “emlak” or estate agency which has experience, and which is guided by legal advice. A good agent will ensure that what you view has the paperwork in order and will be a smooth buying process if you decide to go ahead.
At North Cyprus International (NCI) we celebrated our 20-year anniversary this year, and are regularly guided by experienced lawyers to ensure that our sales are all bone fide. We only organise viewings on properties where we have checked the legalities in advance.
Should I arrange my own property viewings or let an agency do it?
We recommend that you let an experienced agency such as us organise your viewings and also carry out personal property finding, rather than trying to organise your own viewing list as you would at home.
The first reason is that portals such as Rightmove and other local property websites cannot feasibly check the legalities of properties they advertise. It goes without saying that in a foreign country there are more potential pitfalls in buying properties overseas than there are at home, so let us guide you.
The second reason is that not all of the best properties are advertised online! Many property owners are living in their properties and have privacy reasons to keep them offline, so many of the best properties are sold “off market”.
The third reason is that we often know better than you which properties will fit best with your “wish list”. Let us do the legwork and property finding for you with our 20-year network! To get a suggested viewing list – please complete our no obligation PROPERTY QUESTIONNAIRE.
Do I need just one North Cyprus agency or view with multiple agencies?
North Cyprus is larger than it looks online! The driving in hot weather can be tiring.
Viewing with multiple agencies can lead to repeated journeys to the same or similar properties and make the process more exhausting, particularly for families. Most properties are listed with multiple agencies and where necessary we co-operate with other trusted agencies to streamline your viewing process. You can trust North Cyprus International as your “one stop shop” to arrange your visit and viewings.
How many properties can an overseas buyer purchase in North Cyprus?
An overseas property buyer is classified as anyone who does not hold Turkish Cypriot Citizenship (Kimlik).
All other non-Turkish overseas nationalities can only hold ONE property (villa, land or apartment). However, nationals of mainland Türkiye can hold up to three properties.
Can my family members hold additional North Cyprus properties?
It can be possible for other family members to purchase additional properties – you should contact your lawyer for advice on this. Up to three family members or friends can also share a property – again please contact your lawyer for advice about what the future implications of sharing a property may be when you come to sell it.
What type of North Cyprus property can I purchase?
Apartment – only one apartment is allowed. An interim “Kat Irtifak” Title Deed or separate individual title deed must be provided in order to purchase. Please note that prior to the May 2024 regulations, it was common for certain developers to sell multiple properties with contract only and prior to the issuing of any deed at all.
We strongly advise against any purchase where the property does not have a title deed already issued, whether interim or individual, even on new build properties, and even if the developer tells you it is ok.
New build apartments being constructed where permits were not obtained prior to May 2024, must now fulfil the regulation to ensure that 20% or more of the units being sold are sold to Turkish Cypriots and no more than 50% of the units are sold to people of the same nationality.
House/Villa – if a villa is to be purchased, the surface area cannot exceed 3,300m2 and no additional house or apartment can be built on the land, although approval for extensions can be applied for.
Land – if land is being purchased, it cannot be land designated for forestry or farming. It must be no larger than 1,338m2 (one donum) and only one residence can be built on it. It must have the appropriate permissions to build.
How to reserve a North Cyprus property
If you have found the property you wish to purchase, you should first consult a recognised North Cyprus lawyer, certainly prior to paying any reservation deposit.
Some purchasers have tried to purchase without a lawyer. We strongly recommend against this. You cannot use a lawyer in your home country.
You will need to set up a Power of Attorney with this lawyer, who will check the paperwork and advise you whether or not to proceed. If you are happy, you can then pay a reservation deposit to your lawyer. This will take the property off the market.
Your lawyer will release it to the seller when they feel the time is right. The amount of this deposit will vary depending upon what you are purchasing and the period of time for which you need to reserve it for, but it is likely to be between £2,000 and £10,000.
Reservation deposits are usually NON-REFUNDABLE once the lawyer releases them to the seller, so be sure about your purchase prior to making a reservation. We strongly advise against paying reservation deposits to agents or developers.
Can I buy a North Cyprus property without making a visit?
It is possible to do a remote purchase, but we do not recommend it.
Firstly, even with a zoom tour, if you are not happy with the location or property when you do visit, it will be too late to undo the purchase.
Secondly, although one can set up Permission to Purchase remotely, doing the Power of Attorney remotely is more time consuming and can involve visits to Embassies as well as DHL postage charges.
If possible, arrange an inspection trip with NCI, even for 2-3 days. However, if there is no other option, then we at NCI will help you purchase remotely if you really need to.
Must I apply for permission to purchase (PTP)?
All foreigners, including those from mainland Turkiye, must apply for permission to purchase. Your lawyer can help you with this, but it must be done online.
The documents related to the property particulars and Police Clearance Certificate from the country of the applicant’s citizenship must be uploaded to the system. The Ministry will reject the application if the applicant has any criminal record. You will need an up-to-date Police Report from your passport country of origin in order to apply. Please note, even if you live in another country, the Police Report must be from your passport country.
Fees in Turkish Lira for the application are as follows:
- First application – half of the gross minimum salary wage (i.e. as of 21.05.24 -17,035TRY);
- Second application (same property) – double of the application fee (i.e. one gross minimum salary wage).
Do I need a North Cyprus bank account to purchase a property?
It is not necessary to have a North Cyprus bank account in order to purchase a property. Each lawyer will have a “client account” where monies can be sent by International Bank Transfer (IBAN). The details of this account will be given to you when you take on your lawyer.
Please be wary of any email which comes to you purporting to change the bank account of your lawyer. There have been scams. Check the bank account number by phone if you have any doubts.
Most North Cyprus banks require in any event a local address in order to open a bank account. Once you have your property you can easily open an account.
Can I buy my North Cyprus property with installments or mortgage?
At present, almost all overseas property purchases on completed (resale) properties with individual deeds are taking place as cash purchases. The reason is that bank mortgages for overseas buyers have become less common. It’s also because most sellers of individual deed properties, particularly villas, are only willing to take offers from cash buyers due to demand.
If you are buying an apartment or villa from a developer, they may offer an installment plan. Please see above about the need for a Kat Irtifak deed in order to safely buy off plan or under construction developer properties. NCI does not sell new build properties without this.
Who prepares the contract of sale to purchase my property?
As well as helping or instructing you apply for PTP, your lawyer will draft the contract for the purchase of your property. They will check this with you in person or by email and ensure it protects your rights to the property.
As they have Power of Attorney, even if you are not in the country, they can sign this on your behalf. Once it’s signed, the full payment is made by your lawyer to the vendor.
Must the contract of sale be registered at the land registry?
It is extremely important that the contract of sale is registered at the land registry by your lawyer once it is signed. At that time, you will need to transfer money to your lawyer to cover the following
- stamp duty tax (currently 0.5% in 2024)
- half of the total transfer of title fee (currently a total of 12% in 2024). 6% due at this time.
If you want to read about all the Costs of Buying – please click HERE.
When do I take possession of my North Cyprus property?
It is normal for possession of the property to take place prior to the Permission to Purchase being granted, mainly due to the currently long periods of time for the PTP to be granted (at the time of writing, up to 18 months). As long as you do not have a criminal record and as long as the property is not located close to a TRNC army base, you should have no problems getting the PTP.
How do I get the Title Deed for my property?
According to the new regulations of May 2024, after the Permission to Purchase is approved, the transfer of the title deed must take place within 6 months. If not completed, the permission to purchase will become invalid.
If the sale price is paid in installments, the six-month period starts from the last payment date.
What taxes do I pay at the time of Deed Transfer?
When your contract of sale was registered at the land registry, you will have already paid half of the total transfer of title fee (a % of the total cost of your property) as well as your stamp duty.
After your PTP is granted, athough the transfer of the title deed has to be made within 6 months of the last instalment paid to the vendor, the taxes (i.e. remaining transfer fee, VAT if applicable and stoppage tax) have to be paid within 60 days after the permission to purchase is granted and published in the Official Gazette. Otherwise, the permission to purchase will become invalid.
If the permission to purchase becomes invalid due to the reason stated above (i.e. taxes not being paid within 60 days), the purchaser has the right to reapply for permission to purchase and pay double the fee. However, the same overseas buyer cannot re-apply a third time for the same property.
Should I buy a property with a shared title deed?
There are many properties in the TRNC with “shared deeds” and traditionally these have been more affordable. Please see our article on New Regulations for North Cyprus Property Purchase for our advice on this.
If you have any questions about any of the above, please do contact us. If we can help, we will. In some cases, we will refer you to your lawyer.
Can you help me with After Sales?
After you gain possession of your property, you will need to transfer the water, local tax and electricity accounts into your name, as well as possibly furnishing the home. If you purchase via North Cyprus International (NCI) our friendly team will guide you through this process.
A North Cyprus property purchase should be fun! By following the steps above, we can help you ensure that moving into your North Cyprus home is a joyful, stress-free experience.
