With many high-quality developments now being completed, there has never been a better range of property for sale in North Cyprus, or a better time to invest.
North Cyprus property tip #1: Research online
When considering buying any property in North Cyprus, always research your options online first. Most North Cyprus real estate developments have websites complete with brilliant sitemaps and impressive floor plans, which only tells half the story. To get the full picture, join an online North Cyprus property forum, where real buyers compare buying experiences in specific developments. You can post questions or just browse the post titles to see which Northern Cyprus developers keep their promises and which ones don’t. Best of all are the North Cyprus independent websites that offer independent reviews of developments along with feedback from their forum members.
North Cyprus property tip #2: Choose your area
Northern Cyprus is a beautiful country with several distinct areas, each with its own particular appeal. If you’re buying a home for yourself, decide what you want most; within walking distance of a sandy beach or a mountainside location with sea views. The same applies to consideration of potential rental markets or investment potential; golf tourists will want to be close to the new Esentepe course, while couples with young children will prefer to rent a beachside vacation home. Make a short list of one or two areas that interest you, then check your online forums for local information like good schools, the best restaurants, or water supply problems.
Top North Cyprus Property Tip #3: Visit North Cyprus
At this stage, do not go on an inspection tour organized by a developer; you need to be free to follow your instincts. Armed with your short list of areas, spend the first two days just driving around and getting familiar with the places that interest you. Visit the local cafe for coffee and chat with the locals. See for yourself which developments are really busy with residents or workers, and which ones are empty or half finished.
Northern Cyprus property tip number 4: Estate Agent Days
Visit local estate agents and get details of properties in your chosen areas. Only accept details on properties within your price range and arrange viewings for any property that ticks all the boxes. Follow the estate agent in your own car to any viewings of the property, so if you don’t like them, you can move on quickly.
North Cyprus Property Tip #5: Understanding TRNC Deeds
You need to ensure that your property comes with a freehold deed from the Turkish Republic of Northern Cyprus (TRNC). Due to the division of Cyprus in 1974, these come in four formats;
1. Pre-1974 Turkish Land Title, for land or property owned by a Turkish Cypriot before 1974.
2. Pre-1974 Foreign Property Title, for land or property owned by a foreign citizen before 1974. These titles are internationally recognized.
3. TRNC Exchange Title, for land or property given to a Turkish Cypriot in exchange for land and property they owned in South Cyprus before 1974, and to which they have relinquished their rights.
4. TRNC TMD title, for land granted to Turkish Cypriots for military or government service, or to settlers.
All four titles are acceptable, with the first type carrying a premium of around 30%.
North Cyprus property tip number 6: Save money with ‘Fair New’
If you want to buy property in North Cyprus that you can move into directly, consider resale in recently completed developments. Your property should already be in order with all utilities, minor issues resolved, and yet the property should still be in excellent condition. Unlike new build properties, where your money can be tied up for two years with no return, a resale property can be enjoyed or rented out as soon as you receive the keys.
North Cyprus property tip number 7: get professional advice
Buying any property is a significant financial commitment, so don’t be pressured into signing any deals. Always use your own independent lawyer to advise and act on your behalf, never one suggested by a property developer. With a complex buying process, new tax laws, and various permits to obtain, a good North Cyprus lawyer is well worth the modest fees charged. Again, online forums are good sources for reviews of trustworthy companies, and those to avoid.