Cyprus, Nicosia

Purchasing Apartment in Northern Cyprus

Updated: 3 weeks ago
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Many Russians consider purchasing property in Northern Cyprus, and the local market happily responds to this demand, offering buyers a wide range of options.

Here, at quite affordable prices for the Mediterranean region, regular and luxury apartments, houses, and apartments are sold. You can buy a villa or a hotel, as well as any other property. The buyer can choose what they like best - a city with its business lifestyle, a secluded villa by the sea, or a tourist area no worse than the legendary Ayia Napa.

The total area of housing starts from 40 sq. m. The bonuses provided to property owners in Cyprus (residence permit or citizenship) depend on its cost, but in any case, they are significant enough to consider the issue in more detail. Every year, our compatriots buy houses and villas in Cyprus, so why not follow their example?

Why is real estate cheap in Northern Cyprus?

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This is partly due to the peculiarities of the political system of the northern part of the island - the republic is officially recognized only by Turkey, and direct air and ferry communication with it exists only from this country. Formally, you can enter Northern Cyprus only through the South, obtaining the appropriate visa, however, if you put the entry stamp not in the passport, but in a special migration card, then you can easily enter from the side of Turkey. Many wonder -- won't it happen that I buy property in Cyprus, and then something happens, and I will be left without money and without a house? If this is the only thing stopping you from buying property in Cyprus, we recommend discarding doubts: your villa will not go anywhere.

Is it possible to buy real estate in Northern Cyprus?

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The current status quo has existed with no significant changes since at least 1983. Northern Cyprus is considered one of the safest places in terms of crime, and, as we have already mentioned, real estate gives its owners quite tangible benefits. We also note the high level of service and quite budget life in the northern part of the island - prices here are closer to Turkish than to Greek, the Turkish lira is in use.

Add to this the general plus for the region - Cyprus is a paradise in the middle of the sea, with magnificent views, a mass of cultural and natural attractions, picturesque tourist routes, and opportunities for hotel or "wild" seaside holidays - and it becomes obvious that it is hard to find a better place to buy real estate.

How much does an apartment cost in Northern Cyprus?

недвижимость на северном кипре

Buying property in Cyprus is relatively simple. Prices for apartments start at around 40,000 euros. Of course, you should not expect elite real estate offers on the first coastline for this money, but it will be a quite decent one- or two-room apartment in a solid house in the city of Famagusta or Kyrenia. The area of such apartments is usually about 40-60 sq. m., in addition to the bedroom, there is a bathroom and - usually - a kitchen combined with the living room.

Apartments with a larger area and in more prestigious areas - including in tourist complexes right by the sea - cost more, while the number of offers in the range of 50 to 100 thousand euros is simply off the scale. For this money, you can buy a large 3 or 4-room apartment with 2 or 3 bedrooms. The total area here is usually more than 100 sq. m.

There are also many offers in the segment of 100+ thousand euros, and here, as a rule, we are talking about elite real estate - view apartments, penthouses, and studios in modern residential complexes, equipped with everything necessary, including a pool, private terrace or huge balcony, walking distance to the beach, and other pleasant moments. For such properties, the area ceases to be decisive, although it affects the price.

Naturally, secondary real estate is cheaper than new buildings; you can also buy property in residential complexes under construction at various stages of readiness. We advise you to check the legal purity of "secondary" particularly carefully; when buying new real estate, the risks are minimal.

How much does a house cost in Northern Cyprus?

недвижимость на северном кипре

Buying a house in Cyprus cheaply is quite a real task. Villas in Cyprus start at around 100,000 euros, but there are very few such offers, and it's strange to hope that this type of property doesn't have any pitfalls: after all, this type of property can't be too cheap. A significant part of the offers for houses is in the range of 200 to 300 thousand euros. For this amount, villas are sold with at least 2 bedrooms, their total area varies from 80 to 200 square meters, but there are offers where the total area of the house reaches 400 meters. We advise you to soberly assess your capabilities because the larger the area of the villa, the more expensive the utilities will be. When buying a villa in Cyprus, it is especially important to calculate costs carefully, how to do this - we will tell you in the relevant section.

More expensive options already belong either to the "elite" category or to business real estate, which - given the developed tourism - pays off well. It is important to remember that real estate worth more than 300,000 euros gives its buyer the right to obtain a "golden visa" - a permanent residence permit, which allows you to come to Cyprus without any restrictions. When buying more budget housing, the buyer is given a temporary residence permit, which needs to be renewed every year.

No matter what type of property you choose, we advise you to start your search by determining the budget, viewing available offers, and finding a reliable intermediary who will help with the choice of a house in Cyprus or an apartment.

You can buy any property in Cyprus in installments by using one of the offers of local banks, sometimes it is better to do this to optimize expenses. At the same time, a residence permit is issued upon payment of the first installment for housing.

Where is the best place to buy property and live in Cyprus?

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Apartments or a villa, city or country house - in Cyprus, the eyes often simply run wide from the variety of options. Of course, the decision in each case will be deeply individual, but we will try to give a small classification that will make it easier for you to choose.

The generally recognized center of business life in Cyprus is the capital of the republic - the city of Nicosia, although this applies to the northern part of the city to a lesser extent. Moreover, of all the major cities of Northern Cyprus, it is the furthest from the sea. Any major city in Cyprus leads a business lifestyle - primarily Kyrenia or Famagusta - while they are right by the sea, often you can see it right from the bedroom.

For those who love peace and seclusion, a quiet town like Lapithos would be more suitable. Life here is more measured, and apartments are generally a bit cheaper on average.

There are quite interesting real estate offers in the central region of the republic - for example, in the towns of Lefke and Morphou - they are more suitable for those who want to connect their lives with agriculture. With a car, the sea is accessible from almost any part of the country - the total area of Northern Cyprus is only 3355 sq. km., and it's unlikely to take more than an hour to reach the coast from any point in the country. Plus, there's much less tourist hustle and bustle here.

But if you want to immerse yourself in the tourist persona of the country and feel at home in the epicenter of beaches, ancient monasteries, and tourist entertainment, then consider looking for a villa or apartments on the coast near Famagusta - it's a stone's throw from the main resort of Southern Cyprus - Ayia Napa. Here is the Long Beach area, one of the most popular tourist beaches in Northern Cyprus, so it makes sense to start looking for "beach-type" housing here.

What does residency permit offer?

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Unlike a tourist visa, a residency permit grants the right to permanent stay in the country. When buying a house, villa, apartment, or any other real estate, you apply for a temporary residence permit, which is issued in a maximum of two weeks, and the residency is automatically granted not only to the buyer but also to all family members. It is issued for a maximum of one year, after which it needs to be renewed.

You can apply for citizenship after living on the island for 12 years (or buy higher-level real estate, or invest a substantial amount in the island's economy - in this case, you can get the status of a republic citizen with a corresponding passport immediately). You can apply for permanent residency after living temporarily for 6 years.

It's important to understand that both temporary and permanent residency - unlike citizenship - only allow you to work or do business in the republic with the appropriate visa. However, according to numerous immigrants, the enforcement of immigration laws here is not very strict.

How much does it cost to live in Cyprus?

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To obtain a residence permit, you need to provide documents proving an income of 1200 lira per person, but of course, your expenses will not be limited to this. Utility services are quite expensive. Gas is supplied in cylinders at a price of about 12 euros, and such a cylinder lasts at most a month with economical use. Electricity costs from 0.15 euros per kilowatt, considering that air conditioners and boilers run on it, you need to strictly monitor consumption: after 200 kWh per month, a higher tariff applies. A cubic meter of water costs 0.8 euros.

But other services - like garbage collection and area maintenance - cost, by our standards, pennies. Small apartments will require 5-10 euros per month, more expensive apartments and villas will cost about 75 euros, and elite homes in Cyprus will pull 100-150 euros per month from the owner's pocket - after all, a villa is still a villa in Northern Cyprus! The calculation takes into account not so much the total area of the housing, but its value and the status of the residential complex.

Food and transport cost about the same as in mainland Turkey. By Russian standards, these are really not very high expenses.

Where do Russians live in Cyprus?

недвижимость на северном кипре

The Russian-speaking community is quite numerous - although no official international statistics are kept, it is believed that mainly Russians and English buy real estate here. However, there is generally no compact resettlement - when choosing an apartment or villa, our compatriots are guided by their personal preferences. The search is more about the formal characteristics of the housing than where there is a larger Russian community, some even look for places with the least concentration of Russian-speaking population.

Russians have access to any type of real estate, and foreigners here are treated well and no one would think of restricting anyone in their desire to buy a house in Cyprus, move closer to the sea, and realize their long-held dream.

If you are seriously thinking about buying real estate in Northern Cyprus, then our primer on real estate agencies will be useful. Also visit the Telegram forum in the section "Real Estate" and ask your questions to specialists in this field.

MURAD GASYM-ZADE
MURAD GASYM-ZADE
CEO of Cyprus-FAQ

Real Estate Specialist in Northern Cyprus

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