Many people are now considering Northern Cyprus as a destination for relocation. Dozens of companies, mainly in the IT sector, are moving their business and employees here. In addition to the climate, they are attracted by the mild tax regime for IT-related businesses, as well as the high level of educational and medical infrastructure. In particular, there are English schools, modern medical centers, and several international universities. By the way, Northern Cyprus has a low crime rate.
Stages of buying real estate
1. Selection of an agency
Selecting the right counseling agency is the key to a successful transaction. By working with professionals, you can be sure of the quality of the service you receive.
2. Selecting a property and negotiating terms and conditions
Depending on the purpose of purchase – for your own residence, coming on vacation or renting – you can choose an object closer to the coast or in the mountains, in a small village or a large developed area. Prices for real estate in Northern Cyprus are traditionally indicated in British pounds.
3. Signing of the contract and transfer of funds
As a rule, the buyer pays the seller of the property by transferring funds to the developer’s account or to the account of an individual, in the case of the secondary market.
4. Obtaining a title
On the basis of a registered sale and purchase agreement, you are already the owner of the apartment and can dispose of it – live in it yourself, rent it out or pass it on by inheritance. However, if you have not registered the title, you will need prior approval from the developer when selling the property.
How to make the right choice?
The choice of real estate is an individual thing, which is based on your desires. Most often, attention is paid to the size of the housing, the number of rooms, the presence of neighbors, sea view, infrastructure, the general area of the complex and much more.
In recent years, the housing market in this part of the island of Cyprus has been actively developing. Previously, it was in the shadows for a long time, largely due to problems with the legal status of this part of the island. But now there are no problems for foreigners to buy real estate in Northern Cyprus, especially since there is an attractive price-quality ratio.
Buy a luxury villas for sale in northern cyprus or choose a cozy studio – it’s up to you. We wish you a good purchase!
