Is it safe to buy property in Northern Cyprus?
Northern Cyprus is one of the hottest property markets among potential buyers in Europe. Beautiful golden beaches and Mediterranean Climate have contributed a lot towards the popularity of properties that is available for purchase in the region. If you are looking for the best place to go ahead with enjoying summer breaks, you may purchase property in Cyprus. It is among the best places to retire as well.
Can foreigners buy property in Northern Cyprus?
Yes, it is possible for a foreigner to go ahead and buy property available in the region. The best thing about purchasing property in Northern Cyprus is that the overall process is a hassle-free one. There aren’t any special restrictions, and you just need to go ahead and buy.
Property Purchase Process in Northern Cyprus
You can buy property for cash, crypto payment or go ahead with a mortgage. If you are looking for a mortgage, you should first arrange it. This is where you need to work out with the banks and see how much you can receive. Then you can get the help of a local lawyer, who will manage the transactions along with paperwork. While getting the help of the lawyer, you can ask your estate agent to search for property that is available for sale in Northern Cyprus. There are numerous properties available on the property market in North Cyprus which you can use to search online as well.
If you come across a good property to buy, we encourage you to visit there in person. Then you can check and see whether the property you are about to invest in matches with your expectations or not. If there is no possibility for you to visit in person, you may think about sending your lawyer to do an independent check and provide recommendation to you.
Once you are happy with purchasing the property, you can make your offer to your local broker. It is a good idea to make this offer via a real estate agent. Then you can confirm the deal than your will need permission to buy the property. After getting offer agreed you may sign the sale contract and transfer funds. This will help you to complete first step of the sale.
About Northern Cyprus
Northern Cyprus is a self-declared state. It is only recognized and supported by Turkiye. You can find a democratic political system in the region. The country extends from Guzelyurt to the tip of Karpass Peninsula. There is a buffer zone in between Turkish Republic and Northern Cyprus and Cyprus Republic, which is currently managed by the United Nations.
You can find a stable economy in Northern Cyprus as of now. Hence, there is no need to fear about making a real estate investment. Your property value would surely appraise along with time, and you will never come across any challenges at the time of selling your property in the future. That’s because there is a high demand for property from domestic and foreign investors in Northern Cyprus.
Another great thing about North Cyprus is the rich culture that you can find in the region. You can find numerous venues where you can experience culture. You will be able to supplement your life in Northern Cyprus with finest literature, dance, and music. On top of that, Northern Cyprus excels in theatre and cinema as well. There are multiple sports activities available for people in Northern Cyprus to engage with. Moreover, you will also fall in love with Northern Cyprus cuisine, as it is one of the best that you can find out there in the world as of now. To experience all these benefits, you should invest to buy property in Northern Cyprus or rent for a while.