While Northern Cyprus is one of the most popular holiday destinations in the world, it is also considered a paradise for real estate investments. Buying a house in Northern Cyprus is both easy and very advantageous. The cheaper housing prices and the excellent location of the island of Cyprus are among the points that attract those who want to buy a house in this beautiful island country.
The process of buying a house in Northern Cyprus proceeds in several stages. Making a contract, obtaining a sales permit, and performing the title deed transfer procedures constitute these stages. Foreigners from Northern Cyprus have the right to buy one property. The necessary documents when buying a house are prepared as different documents when making a contract, getting permission, deed transfer and after. The contract requires documents from the seller and buyer of the house. The sales permit application is made to the Ministry of Internal Affairs. After the title deed approval is received, the deed transfer procedures are started.
If we take a brief look at the home buying process from Northern Cyprus;
- Contract Process
It is the contract document and the stamp duty payment document required for the contract to be made between the buyer and the seller. While drafting the sales contract, both parties should read the articles. The sales contract has a certain format. The sales contract is required to apply for a sales permit.
- Sales Permit Application
Sales permit application is made to the Council of Ministers. A police record showing that the person who will buy the property has not committed a crime is required to apply for a sales permit. The sales permit is applied with the sales contract document and stamp duty payment document. The Council of Ministers gives the sales permits after the examinations. After the permission is obtained, the deed transactions are started.
- Land transactions
In order to start the deed transactions, a sales permit must be obtained. After the title deed transactions, VAT, withholding and title deed transfer fees are paid. At the end of the deed transfer process, the property purchase is completed.
Documents Required When Buying a House in Northern Cyprus
You go through the above stages when buying a house in Northern Cyprus. In each of these stages, the number of documents increases. The most important document presentation is in the application for permission to the Council of Ministers. Required documents when buying a house in Northern Cyprus;
- Contract Document
- Stamp stamp fee paid certificate
- Certificate of clean criminal record of the person making the purchase
- Copy of ID or passport
- Sales permit application form
- Documents showing that fees and taxes are paid in the transfer of title deed
Is It Advantageous to Buy a House in Northern Cyprus?
Northern Cyprus offers very advantageous options in terms of housing prices. At the same time, buying a house here means owning property on a magnificent island. It is a profitable investment as well. There are excellent opportunities for Turks who buy a house in Northern Cyprus. It is possible to go to the very close island of Cyprus in 1.5 hours by plane. It is advantageous to buy a house in Northern Cyprus for both vacation and investment purposes.
If you want to learn more about a house or villa for sale in Cyprus, you can call our Rocs Homes investment consultants. In Northern Cyprus, which has a very serious potential, we support you from the selection of the property to your expectations to the entire purchasing process. We are always there for you to get the best property, whether for living or for investment.
Northern Cyprus or Turkey?
If you are going to buy a house, Northern Cyprus offers more advantageous opportunities compared to Turkey. While it is a dream to buy a seafront villa in Turkey, it is much easier in Cyprus. By buying a house in Northern Cyprus, one of the most popular holiday destinations in the world, you make an investment. You can evaluate luxury and well-located housing options at a much more affordable price. New housing projects in Northern Cyprus create opportunities where you can buy even seaside villa options very cheaply.
