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Background to property sales in North Cyprus
The North Cyprus property market has changed a lot in the last few years. As a former British colony until 1960, and with English as an official language, property sales in North Cyprus have always been popular with British and other English speaking buyers. Many retirees choose Cyprus for relocation in later life, and younger couples and families often choose Cyprus as a holiday or second home.
More recently, many other nationalities too have discovered the fabulous climate, natural beauty, affordable prices and friendly local culture of the country. Property sales in North Cyprus have been booming with those from Russia, Ukraine, Scandinavia, Germany, Austria, ex pats from the Middle East and people from mainland Turkiye also choosing North Cyprus.
North Cyprus has come of age as a thriving, multi-cultural investment and lifestyle property destination.
Why is the North Cyprus property sales market growing?
New educational opportunities – As well as retirees, more recently many younger families are now choosing Cyprus as their main home, particularly now that new English speaking school options are available, as well as English courses at the many new Universities.
New quality – The quality of the new build has also changed in the last 10 years, with many of the apartment sites now offering five star, all year wellness/spa facilities or apart hotel investment rental options. High end as well as the budget property sales are on offer, providing a great range of prices for all budgets and attracting a wider range of investor types.
New Facilities – Over the last 20 years, many new facilities have been constructed. These include the Korineum 18 hole golf club and spa, The Karpaz Gate Marina, the brand new Ercan International Airport, highest quality hotels including Elexus and Cratos Hotels, and many brand new roads providing a better driving experience and easier access to the Karpaz and other tourist destinations.
Easier residency – Applying for residency in North Cyprus is also easier than in many other countries in the European area. This applies both to British buyers post Brexit, who may find residency in the EU area now unaffordable, or to non-British buyers from countries who are not able to secure residency in the Schengen area.
Capital Growth, Stable currency – Despite the fluctuations of the Turkish Lira, these currency concerns are avoided for investors by the pricing of all North Cyprus property sales in the pound sterling (not the euro). This is a historical anomaly which relates to the fact that Cyprus was a former British colony.
Capital Growth – There has been significant capital growth in North Cyprus property for sale over the last few years. NCI predicts that this will continue, particularly for the established resale market (used/pre owned apartments and villas) which are always in demand and which also gain a very good rental yield for holiday lets.
Transport connections – access to North Cyprus via either Ercan (via Turkiye with Turkish Airlines, Pegasus and Anadolu Jet) or Larnaca and Paphos Airports (Larnaca is a hub for most budget and luxury flights all over the world) makes Cyprus ideal for those who need easy access to both the EU/UK OR the Middle East and beyond.
All these factors have brought about an increase in the prices for property sales in North Cyprus as well as a huge number of new property agents.
To read about the possible rental yield for apartment and villa investors – CLICK HERE
Types of North Cyprus property for sale – take our questionnaire!
North Cyprus is rich with many types of properties for sale. Whether you are seeking a commercial opportunity such as a hotel, a buy to let investment, or a residential or holiday villa, town house or apartment property for sale, NCI can assist you. Land is available for developers too.
At NCI, we always take time to explore our client needs before arranging viewings. To do this, we recommend all of our customers fill in the NCI Property Questionnaire.
Sometimes the ideas which our clients have about what they wish to buy, is not always the best “fit” for their needs. We like to explore all the options then make our recommendations. On the questionnaire we make sure to ask about the expectations of the client about rental income (or not), capital growth, area, size, type etc. We will then use our market knowledge to offer our recommendations. Our clients are often surprised by how accurate our predictions are about what we feel they should buy!
We also carry out Personal Property Finding for our buyers as sometimes the best offers are not even advertised online. “Off Market” options are often the best with some sellers preferring not to advertise online – trust us to find you the best North Cyprus Property for sale!
3 steps to a safe North Cyprus property sale
The beautiful island of Cyprus has an unusual and unique history. Just as there are two sides to Cyprus (the Greek south and the Turkish North) so there are always two sides to every argument. In the past, some buyers were wary of buying North Cyprus property for sale due to publicity about property ownership. Sadly, for political reasons, the flames of these concerns were often fanned by Greek Cypriot politicians.
These old concerns are now rare for today’s buyers, as most property for sale in North Cyprus has been built long after the island was divided in 1974 and due to the EU’s recognition of the IPC (Immovable property commission) in Nicosia which exists to pay compensation to any Greek Cypriot land owner who has lost land or property in the North of Cyprus.
The laying to rest of these concerns is one reason why today’s North Cyprus property sales are booming.
However, as with all overseas property sales, it’s important to put safety first. Of prime importance is finding a property where the title deed and paperwork is in order. This will avoid any problems in the future.
Here are 3 steps to follow.
- Choose an experienced North Cyprus Property Sale Agent – When choosing your North Cyprus property sale agent it’s important to choose one which has been established for many years and therefore gives the best property sales advice. North Cyprus International (NCI) is a key agency of choice for both British and buyers of other nationalities – having been established for 20 years and so offering sound advice and the benefit of long experience. North Cyprus International (NCI) can help you find your way through the maze of property types for sale and help you make the right choice for you and your family – whether you prefer a new build or resale property.
- Use a reputable North Cyprus Lawyer – Whether buying or selling it’s important to use a reputable North Cyprus lawyer. Contrary to popular belief, it’s NOT possible to use a lawyer in your home country. As all the North Cyprus property sales are carried out in Turkish language documents, it’s essential to have a local lawyer who is bi-lingual and who offers translations as well as conducting all the business on your behalf with the Land Registry and local government organisations.
- Pay your deposit to your lawyer – We also advise that you never pay a reservation deposit to either the private seller OR the agent who introduces you to the property. NCI recommends you pay your reservation deposit to your lawyer, who can then check the paperwork before releasing this deposit to the seller’s lawyer.
Setting up power of attorney – NCI always recommends that you set up a POA (power of attorney) with a reputable lawyer during your visit. This is usually free or low cost and will also give you the opportunity to make a decision to purchase once you return home, as well as giving you the chance to ask your legal queries with the first visit usually being free of charge. You can find our list on this LINK.
Costs of buying – To read about the costs of buying and property taxes etc – refer to our article Costs of Buying North Cyprus Property.
Planning your North Cyprus property purchase
At North Cyprus International (NCI) we know that many clients can take several months, in some cases, several years, to plan their first North Cyprus property viewing visit. We want you to visit and buy when you are ready. We never pressure our clients.
We therefore have two teams available in our company to help you.
Our Marketing Team will answer your email or phone call (or WhatsApp message) and help with the following:
- Answering your initial queries
- Help you complete the property questionnaire
- Help you decide which areas and property types might be right for you
- Offer travel advice on flights, hotels, car hire and border crossing (if you are not on island)
- Send you initial viewing suggestions
- Book your viewings with our sales team when you are ready.
Our sales team takes over once you arrive on the island or if you are already in Cyprus.
Our team can spend any period of time from one hour to several days showing you all the suitable properties. How long you spend with our sales team is up to you.
Once you select your chosen property, the team will accompany you to the lawyer of your choice and help you through the reservation process.
After sales – the after sales is jointly conducted by our sales team and your chosen lawyer. They will see you through the buying process and even meet you when you arrive to take possession of your property and make sure you understand the processes involved in moving in.
The future – your own North Cyprus property sale
Whether or not you purchased your property through ourselves, NCI has a great track record in achieving the best prices on North Cyprus property sales. And for our buyers, we always ensure that the property or properties we recommend for viewing are those which we know will most easily resell within the next few years, in case your plans change. We want to stay in touch with you throughout the life of your property ownership, enabling us also to help you when you are ready in the future to put up your own property for sale in North Cyprus.
Is North Cyprus property for you?
North Cyprus is a geographically beautiful country with a fabulous Mediterranean climate in a hugely strategic location offering safe investment, capital growth and lifestyle potential for property buyers of all types and with all budgets. The process for securing residency outside the EU/Schengen area offers lifestyle and educational opportunities for many nationalities. The country has excellent transport connections via both the new Ercan International Airport in the north of the island (via Türkiye) OR via the south of Cyprus via Larnaca International Airport with great connections to all over the world. North Cyprus International (NCI) has 20 years of experience assisting many hundreds of international buyers with their North Cyprus property sale safely and professionally.
To find out more about a North Cyprus property visit or viewing contact us via email (help@northcyprusinternational.com), phone (+44 207 112 8086 or +90 548 861 0600) or WhatsApp (see contact page).
