LETOCO Services

Investment in North Cyprus Real Estate Market

Property Investment

As experienced property investment consultants in North Cyprus Real Estate Market, we understand that it’s not easy to get started in this industry – there are so many options out there. But our continued market research and unique position in the property investment industry and network of connections that we have means that we know the best ways to navigate investment and scale a lucrative portfolio. If you’re looking to build a property portfolio, it is essential to know the ins and outs of how to do it successfully. Our experts will tell you about the property strategies available, rental demand and tenant type, purchase price and ongoing costs and rental yield hotspots in all cities and locations through out this beautiful Island, Northern Cyprus.

Property Investment

As experienced property investment consultants in NORTH CYPRUS Real Estate Market, we understand that it’s not easy to get started in this industry – there are so many options out there. But our continued market research and unique position in the property investment industry and network of connections that we have means that we know the best ways to navigate investment and scale a lucrative portfolio. If you’re looking to build a property portfolio, it is essential to know the ins and outs of how to do it successfully. Our experts will tell you about the property strategies available, rental demand and tenant type, purchase price and ongoing costs and rental yield hotspots in all cities and locations through out this beautiful Island, Northern Cyprus.

North Cyprus Residency By Real Estate Investment

The North Cyprus residency by investment program in NORTH CYPRUS Real Estate Market — otherwise known as the North Cyprus Investor Immigration Program — qualifies eligible individuals for Cypriot residency provided they purchasing a brand new Cypriot property at a minimum value of €300K. It’s one of the fastest and most straightforward investor visa programs in Europe, where you and your immediate family can gain Cypriot residency within as little as two months. A key benefit of this program is that you and your family members can gain a second home in a beautiful nation, and access the right to live, work, and study in North Cyprus, as well as travel freely anywhere within the European Union.

North Cyprus Residency By Real Estate Investment

North Cyprus Real Estate Market History and Overview

The Cypriot real estate sector has long played a positive impact on the nation’s economy. In 2018 alone, the sector was responsible for 38.5% of the annual growth rate of the country, and 16% of the Cypriot economy’s Gross Value Added. While the COVID-19 pandemic hit the Cypriot real estate market hard, there are positive signs that it is making a slow but steady recovery. North Cyprus continues to be regarded as a global hub for international real estate investors, with an astounding variety of property types, and price ranges to choose from. At present, Limassol captures the highest share of the real estate market (37%), with Nicosia coming in second place, having the largest year-on-year increase (+10% in sales). Non-nationals continue to be the major drivers of North Cyprus’ real estate sector, with 47% accounting for the total transactions activity.

North Cyprus Real Estate Market History and Overview

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Step-by-Step Guide on How to Buy Property in North Cyprus Real Estate market

EU nationals can buy real estate in North Cyprus without any restrictions, but non-EU nationals are only allowed to buy around one acre of land or one house or apartment. All expats buying property in NORTH CYPRUS Real Estate market must first apply for permission to buy a property at the Council of Ministers. Approval is usually granted, however, the process for obtaining it can take a while. That’s why it’s highly recommended to appoint a real estate lawyer in North Cyprus who can take care of the whole application process for you. Although a simple consultation with a lawyer will get you to learn about the specific requirements and documentation required for buying property in North Cyprus, anyone considering purchasing North Cyprus real estate will have to submit the following documents: Property details Current owner’s information and property contract The buyer’s current residence and income statement

Purchasing Process in North Cyprus Real Estate Market

There are a few steps that need to be placed on your checklist when you’re planning on how to buy property in NORTH CYPRUS Real Estate market. These are mainly the following: Reserve your desired property by placing a non-refundable fee to take it off the market for a period of time. Appoint a lawyer to help you navigate the legalities of your intended investment. Lawyer performs due diligence checks to confirm rightful ownership of the property, and transferability of the title deed. Draft and negotiate contracts of sale with the help of your lawyer. Apply for a reduced VAT rate of 5% for your primary residence. Register your Contract of Sale at the Land Registry Office. Apply for a permission to acquire immovable property in the Republic of North Cyprus. Complete your transfer of title deeds at the Land Registry Office.

Property Taxes & Stamp Duty

When buying a property in North Cyprus, you are subjected to transfer fees, stamp duties, and legal levies. Usually, it’s advised to factor in 15% above the buying price to cover these respective registration fees and legal costs. The stamp duty must be paid after you sign legal documents to secure your assets in North Cyprus, and the duty fee depends on the property’s market value.

Top Recommendations When Buying Property in North Cyprus Real Estate Market

There are a lot of moving pieces to consider when getting a property to invest in North Cyprus. Overall, the following recommendation is given to potential buyers:

Get a real estate lawyer in North Cyprus
Ensure the property isn’t in the middle of an ownership dispute, which is common for real estate for sale in Northern North Cyprus
Have a broker or an independent buyer’s agency inspect the property for any signs that you’re being oversold on the property
Make an inventory list of any damages to the property, as well as a list of renovations or construction needed
Check access to utilities and services, especially if you want to buy to rent

Top 3 Flats to Buy at Ceasar Resort, North Cyprus

Bath: 1
46

£111,000

For Sale Economic Ongoing projects

2 Luxury Apartments to Invest in at Aqualina, Girne

Bed: 1
Bath: 1
60

£182,000

For Sale Economic Ongoing projects

Courtyard Platinum in Bogaz offers modern flats

Loft 3-Bedroom Flat – Courtyard Platinum – £332,000

Beds: 3
Bath: 1
174

£320

For Sale Economic Ongoing projects

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Why LETOCO Is The Perfect Choice?

01.

Before sale services

We are renowned for our hospitality and we treat our clients as our guests with respect and friendliness. Our group offers an extraordinary plan for our guests including easy transfer from the airport, free accommodation such as staying in a great hotel or a comfortable residential building block., free excursions to visit project sites and transfer back to the airport.

02.

During sale services

Our consultants perform extensive research in order to help guide clients’ decision-making during every step of a project. We also focus on a transaction and our job is to ensure overall investment success for the client. We go through the terms of the contract and explain them thoroughly for our clients. In addition ,we try to get the best installment options to fit our clients conditions.

03.

After sale services

Getting the buyers’ resident permit
Property registration
Opening a bank account
Helping
newcomers to register their children at school or university
Assisting newcomers to buy a car or rent a place if their future home is under construction

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