BU Y
E R
'
S G
U I
D
E :
Property
Title Deeds & Purchase Procedure in the TRNC
As this country eases towards a settlement with the south
of the island and a possible accession into the European Union,
we examine the pros and cons of the freehold and leasehold
property purchasing opportunities. The most crucial factor
in buying property, whether it be land or buildings, is to
use a qualified lawyer in all cases for all contracts and
Government applications. There are various forms of title
deeds, as described below:
Purchase
Procedure
The
price of the property agreed.
The
sale contract will be drawn up expressing the terms of the
purchase and both the vendor and the purchaser sign.
The
purchase pays 10% deposit (the amount of deposit may vary
according to the payment terms of the vendor).
The
solicitor or appropriate appointed person will then apply for
a purchase permit from the interior ministry. This can take
approximately four to six months.
Once
the Purchase Permit has been granted from the Interior
Ministry the remaining balance is due from the
purchaser.
After
final payment the vendor assigns the title deeds into the name
of the purchaser.
By
buying a Foreign Title property the purchaser will not have to
wait for Purchase Permit and therefore the above procedure
will be much quicker.
Note:
When
buying a Turkish Title or a TRNC Title foreigners are
restricted to 1 donum of land (1,388 esq.. or 1/3 acre. This
restriction does not apply when buying Foreign Title property.
Please enquire as to which title is attached to the property
of your choice.
continue
Additional
Costs
| |
The
purchase permit applications costs vary from £500 to
£750 |
| |
6%
Stamp Duty is due to the Land Registry Office. |
Other
Costs
For a standard family (four
persons) total of all the local taxes
(electricity, water, telephone, municipal ...) is not more
than £150 - £200
per month. Yearly property tax is around £80.
There are not any government restrictions in selling your property. but
the seller pays 6% Stamp Duty when selling a Property.
Construction
& Planning
If
you wish to purchase land and build a house or villa, the
laws are as follows:
a)
Outside the Municipal boundaries, there are restrictions on
the area that one can build on (20% of the land area), and
a height restriction of two storeys.
b)
Land in Cyprus is measured in donums.
1
donum = 1338 m² or 14400 ft²
1
donum consists of 4 evleks
1
evlek = 3600 ft²
1
acre = 3 donums
Building
costs vary depending on site elevation and internal fixtures
and fittings quality. Most buildings are constructed of the reinforced
concrete frame system that is prevalent in the Mediterranean
countries. Buildings tend to be over-specified, but this can
only be an advantage to the buyer. Materials are readily available
from Turkey, Spain, Italy, Germany and UK. We will only be to
pleased to quote you for any construction project.
Why
North Cyprus
It is true to say that retired people and
families who come to live in Northern Cyprus enjoy a much
higher standard of living than their UK counterparts, with
pensions having a much higher purchasing power, and with the
reassuring knowledge that one is living in a safe environment.
For
younger people with families, there can be no finer, safer
and healthier environment in which to raise one's children,
and being in a position to earn one's living in Northern Cyprus
can only be considered a bonus.
Learn
About the Region of Your Interest
Kyrenia (Girne) - A Piece of Earth from Heaven
The
most beautiful holiday paradise of the island GIRNE, according
to a tale,
was established by Achaeans coming from Peloponnese in the
10th century BC.
Its founders gave it the name of Kyrenia, the name of a mountain
in their homeland.
continue
Bellapais - Temple of
Peace
Bellapais is an ancient village of charm and tradition; its
narrow streets and local shops create the feeling that you
are still in old Cyprus. It is superbly situated on a natural
rock escarpment, halfway up the northern hill slopes, magnificent
views of the Kyrenia coast below, rugged pinnacles of the
Kyrenia range tower behind.
Bellapais is famous for its Abbey ...
continue
Lapithos
- where the green mountains
meet the blue sea
Situated west of Kyrenia, Lapta reflects its past glory into
its role as one of the jewels in the crown of North Cyprus's
tourism industry with its abundance of historical sites, natural
beauty, hotels, restaurants and beautifully restored buildings.
continue
Ozanköy - olives,
carobs and lemons
Ozanköy is one of the most beautiful villages on the
foothills of the Kyrenia Range. The perpetual charm of this
village is due to its closeness to nature. Its wide residential
area is engulfed by acres of olive, carob and lemons ...
continue
How
can I visit North Cyprus to view the properties?
do I have to pay something for that?
Do you organise any viewing trips?
We will be
very pleased to show you the Plots of Land and Properties
available to our clients when you arrive in North
Cyprus at no expense to you.
We
do organise viewing trips from the UK or any country if
requested, We also assist our customers with their air travel
arrangements, Hotel, and airport transfers in North Cyprus, that's
one of the many privileges of being an ACPD customer.
We
are proud to say that we are very well known in North Cyprus
and we have very good relations with the best hotels and holiday
villages in North Cyprus.
If
you decided to come to North Cyprus just click over the "Best
Cyprus Hotels" link below for reservation and
accommodation details.
Moving
to North Cyprus
The
northern coastline of Cyprus is accepted as one of the most
beautiful areas in the world in which to live. Northern Cyprus
has a vibrant history, the warmest welcome in the Mediterranean
and enjoys a typical Eastern Mediterranean climate with long
hot summers and short mild winters. The natural beauty of
the island, the friendliness, hospitality and generosity of
the Turkish Cypriot peoples...
continue
British
Society
The
British Community is growing very fast as more and more British
couples (retired and families with children) buy a property
in Northern Cyprus and come to permanently live on the northern
side of the island ...
continue
Build
Your Own House
Building
a house in Northern Cyprus remains one of the most inexpensive
alternatives to become an owner of the luxury property in
Mediterranean ...
continue
FAQ
- Frequently Asked Questions
Can
I pay for the property from overseas ?
Yes, this can easily be done from any international bank directly
into our International Bank account.
|
