North Cyprus Property Buyer’s Guide

The majority of people who come to Northern Cyprus to purchase property are not big time property investors savvy with the ins and outs of international real estate markets; they are people just like you and me who dream of owning a beautiful villa or apartment in the sun.

Therefore it’s essential to spread the word about the property buying experience in Northern Cyprus so that those who have yet to buy know exactly what to expect. This article is a quick run down of the buying process and some tips about where to find more information.

This article is written based on my experience of purchasing in Northern Cyprus and on the direct experiences of all those people who we at About North Cyprus.com have assisted with their purchase…

Firstly, when you come to Northern Cyprus come with a fixed idea of your budget in mind. It seems that the majority of people buyers speak to always try and push the limits of any budget so be very firm about how much you have to spend! If you have a fixed idea about the area you’d like to live in make sure you tell the people who will be showing you properties this information so that they don’t waste your time showing you houses elsewhere.

If you’re really hoping to buy a property when you arrive you will need to bring your cheque book with you because you will have to pay the solicitor you instruct his fees and also a deposit for the property you decide upon. Occasionally the solicitor and property vendor, developer or estate agent in North Cyprus will be happy to accept a bank transfer once you’ve returned home, but if you have a cheque book bring it - it’ll be simpler!

Make sure you view many properties from a number of different developers and go round with more than one estate agency otherwise how on earth will you really know whether what you’re buying is good value and well built?

Seriously - it truly pays to view more than one developer’s properties. Even if the first property you see is the one you end up buying at least you’ll know that it was the best value, best quality property in Northern Cyprus.

As an individual or married couple you can buy one property and own up to one donum of land. If you want to own more than this amount you will have to incorporate a limited company in Cyprus which has the requirement of a Turkish Cypriot partner owning a 51% share. There are ways to negate the effectiveness of the majority share but this would require expert assistance and you’d be better off speaking to a lawyer when in the TRNC.

Once you find a property you like you should begin negotiations! Occasionally it’s possible to negotiate a little on price if the property is a resale; occasionally it’s possible to have a couple of extras like a barbeque, fireplace or extra air-conditioning unit etc., thrown in. As they say, if you don’t ask, you don’t get!

With the negotiations out of the way it’s time to sign the contract! You need to appoint a lawyer and give him or her power of attorney to act in your absence, apply for your permission to purchase and do all the title deed checks and land registry searches.

Now I always recommend Munir Akil as a good solicitor simply because he has helped me and all the people we have advised, his fees are reasonable, you can email him, he has friendly English speaking staff and he trained and practised in the UK for many years before establishing his practice in Girne, Northern Cyprus. I do not recommend him over and above anyone else as I’ve never worked with anyone else, I simply recommend him as he has helped me!

If you want to contact him his details are: - email or telephone 0090 392 815 4727.

When you go to the solicitor make sure you take your passports with you and don’t stress, it’s not a big, bad formal experience like it can be in the UK. It’s generally laid back if a little drawn out and basically simple, it can take up to two hours with contracts being typed up while you wait and you having to pop across the road to the notary’s office - oh and drink a coffee and pass the time of day with all the other people waiting in the office! If you have any questions about title deeds, the reputation of the developer, the location of the land, whether there are mortgages on the land etc., now is the time to speak up and ask all the things you want answering!

Don’t be afraid of asking a stupid question - there’s no such thing, there are only stupid answers! And if you don’t ask you may feel uncomfortable about the decisions you’ve made and that’ll make the buying process unpleasant - which it shouldn’t be.

Having asked everything, made sure you’re happy with the payment schedule if buying off plan and with the proposed completion date it’s time to put pen to paper and sign the contract. Make sure you read and understand every word of the contract you’re signing and then expect to have to hand over a cheque for the deposit or to have 14 - 21 days to make the first payment.

And that’s it! It’s not difficult - the only hard part is choosing which property to purchase in the first place!

For more information about buying property in Northern Cyprus check out: - http://www.shelteroffshore.com/

And if you want to be put in touch with the developers we recommend or get a copy of our complete buyer’s guide simply contact us, click here...