Buying a home in North Cyprus

Types of Title

The process of buying property depends largely on the kind of Title Deed you are acquiring. There are currently four different types of Title:

  1. TRNC Title (previously Greek, owned prior to 1974)

  2. Turkish Title (Turkish owned prior to 1974)

  3. Foreign Title (Owned by foreigner i.e. British ,German, American etc.}

  4. Leasehold (property is owned by the government who grants long-term leases of upto 49 years)

Guide to buying a Freehold property

Please note that in purchasing a Freehold property the Ministry of Interior performs a number of checks which can take between 4 to 8 months to complete.

  1. The sale price is agreed by both parties

  2. Contracts are drawn up by a solicitor binding the terms of sale

  3. Both parties sign

  4. The purchaser pays a 10% deposit of the sale price

  5. The solicitor then applies for a Purchase Permit from the Council of Ministers

  6. When the Purchase Permit is received the remaining balance is paid by the purchaser

  7. Seller then signs the Title Deed over to the purchaser
The solicitors fee for this type of purchase is 1,000 ($1,600). This includes the drawing up of contract, power of attorney, Purchase Permit application and seeing the sale through to the end.

Guide to buying a Leasehold property

Buying a Leasehold property is pretty much the same as a Freehold purchase, the main difference is that instead of applying to the Ministry of Interior you apply to the Ministry of Tourism, who grants the Lease.

  1. The sale price is agreed by both parties

  2. Contracts are drawn up by a solicitor binding the terms of sale

  3. Both parties sign

  4. Seller then applies to the Ministry of Tourism to transfer the Lease

  5. Buyer applies to the Ministry of Tourism to acquire the Lease (which may require an interview) and pays a 10% deposit to the seller

  6. Once the buyer has been approved, the remaining balance is paid to vendor and the Lease is transferred
The solicitor fee for this type of purchase is 300 ($480). This includes the drawing up of contract, power of attorney and seeing the sale through to the end.

NOTE: The Land Registry levies a 6% Stamp Duty on all purchases

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