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Buying a property in North Cyprus

Buying a property in North Cyprus is of course different from buying a property in your country, but it is a relatively simple process. We at Sunlife Homes can offer you all the experience needed to make you feel comfortable and safe in your property investment. We help you find your dream home, and guide you in the financial and legal issues that may arise.


Our advice is to make a budget on how the property purchase is to be financed. It is possible to apply for a mortgage with local banks at 50% of the purchase price with an annual interest rate of 4-8 percent. This only applies to existing properties with registered title deed. If you have the opportunity to mortgage an existing property in your home country, you will clearly get a lower interest rate.

If you buy a new development, the construction company offers a financing plan which is usually called a “payment plan”. This varies between the companies, but you usually pay 30-35 percent of the purchase price when signing the purchase contract and the rest in 2-3 years interest-free installament payment or 5-10 years with current bank interest.

Viewing a property

If you have decided to come down and investigate areas and properties, we vill offer you accommodation and transfer from the airport. During the tour, we offer you the opportunity to look at the properties you are interested and also you have the opportunity to get to know the area. Read more about our inspection trip.

Putting an offer

Once you have found a property that you want to buy, you put an offer through your broker. If the offer is accepted by the seller, the buying process can begin.

Legal representative/lawyer

When buying and selling properties in North Cyprus, both parties are represented by a legal representative/lawyer. The lawyer assists you throughout the purchase process and handles the formalities such as purchase contracts, payments, registration, purchase permits and legal registration. We recommend that you choose a lawyer that you have full confidence in. We can also recommend you experienced and authorized lawyers that we collaborates with.

The lawyer checks that the seller is the registered owner of the land, has no loans, injunctions or other charges on the land/property, checks the building permit, that the seller has the right to sell the property, etc. We recommend that you give your lawyer a power of attorney so that he/she can complete the purchase for you when you are not in Cyprus. The cost of hiring a lawyer varies between £1500- £2000 GBP.

Reservation contract

When you and the seller agree on the price and other terms, you sign a reservation contract and a down payment will be paid, usually £2000- £5000 GBP depending on the purchase price. The down payment is paid to the lawyer’s client funds account. When the down payment is paid, the property is removed from the market and your lawyer can begin the work of checking the property and establishing a purchase contract.

Purchase contract

If everything is in order with the property, the next step in the process is to sign the purchase contract. When both parties have signed the purchase contract, 10-30 percent of the purchase price (or in agreement with the seller) will be paid (less a reservation) to the lawyer’s client funds account. This amount will be transferred to the seller.

A purchase contract must contain:

  • Personal information about sellers and buyers.
  • Information about the property (designations, drawings, permits, etc).
  • The purchase price
  • Payments (down payment, final payment and possible installments)
  • The date of completion
  • Obligations and rights of seller and buyer.


When buying a property in North Cyprus as a first-time buyer, you pay 8.5% tax. Within 21 days after the signing of the purchase contract, 0.5% of the purchase price must be paid in the form of stamp duty. The remaining amount consists of 5% VAT and 3% transfer fee, both will be paid at transfer of the title deed.

Final payment

If you buying a new built or resale property, the entire purchase price must be paid within 1-3 months after signing or in agreement with the seller. When buying an off plan or ongoing project, the purchase price is usually paid in increments or installments in agreement with the construction company.

Access to the property

As soon as the contract is registered at the Land Registry Office, which must take place within 21 days after signing the contract, you can access the property if it is ready to move in. If you purchasing an ongoing or off plan project, access takes place in accordance with the purchase contract.

Purchase permit

To be able to own a property in North Cyprus, you need to get a purchase permit from the “Interior Ministry”. This will your lawyer help you in connection with the purchase process and the cost is included in the fee. You only need to send an extract from the criminal record from the police to your lawyer.


We recommend everyone who buying a property in North Cyprus to sign a will. Unlike your home country, which has inheritance legislation, there is no such thing in North Cyprus. This means that if the owner dies and a will is missing, the state inherits the property. Therefore, it is important to sign a will and determine who will inherit the property. Your lawyer can help you with this. The cost of a will is £200- £300 GBP.

Other expenses

  • Connection of electricity/electricity meter – £ 1000
  • Connection of water/water meter – £ 1000
  • Wireless internet connection (WIFI) – £ 200
  • Property tax – 1.25 TL per month
  • Home insurance – approximately £ 120 per year
  • Electricity consumption – 1 TL per KW
  • Water consumption – £ 2 per 1000 L

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