- Latest update: March 20, 2023
- author: Andishe team
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Northern Cyprus
Northern Cyprus, located in the eastern Mediterranean and the western coast of Turkey, was a special place for the first meeting of traders. The long and hot summers in the unique corner of the Mediterranean Sea have provided a lovely atmosphere for the immigrants and residents of this country. Of course, winters with a little rain are also one of the characteristics of this beautiful country. Cyprus is one of the small and sparsely populated countries, but economically it is completely independent and growing. Every year, nearly 12% price growth in the North Cyprus real estate market has caused many people from different countries to visit North Cyprus to invest and buy property.
Buying property in Cyprus
Buying a property in North Cyprus is one of the methods of obtaining residency in this country, which we will try to introduce and increase your information about. People who intend to immigrate or stay long-term in North Cyprus for a period of more than 6 months a year, must apply for a residence permit. In order to obtain residency through the purchase of property in Cyprus, after completing the purchase process, you must take the relevant documents to the registration and tax offices and register the property under the name of the buyer or buyers. It is worth mentioning that by purchasing a property, there is no need for your permanent presence in this country and you can live in your own country. Also, when you need or want, you can enter or leave the country. In the same way, some people leave Cyprus after buying a property in North Cyprus and obtaining residence, and give the house for annual rent. This issue is one of the advantages of buying property in North Cyprus.
House prices in Cyprus
Due to the growing economic development of North Cyprus and social welfare in this country, the real estate market has the best prices among the Mediterranean countries, but the important point is the location of the houses. For example, the prices of houses and villas in coastal areas are different from other points and they differ depending on the type of real estate purchased. For example, the cost of an apartment with a penthouse or villa has a price difference.
Advantages of buying a house in Cyprus
Buying a property in North Cyprus is the best way for people who want to immigrate and live independently or with their family. What better way to stay in Cyprus than to invest in a safe place with an independent house. There are also many reasons to buy property in North Cyprus.
1. The possibility of the union of North and South Cyprus
North Cyprus is considered as a part of the territory of the Republic of Cyprus and a member of the European Union. In the case of peace negotiations with South Cyprus, which increased three times the growth of real estate prices with very specific investigations, now real estate prices in South Cyprus are two and a half times that of North Cyprus. Therefore, this negotiation is a great chance for people who have bought a property in the northern part.
2. Annual growth of property prices in Cyprus
On average, real estate in this country has grown by 5 to 12 percent per year and is mostly reserved for pre-sold and purchased properties. Also, due to the greenness of the island, the influx of many nationals and immigrants from all over the world to this country has increased the annual stay percentage. Due to tourist attractions and tourism, the attraction of immigrants is also increasing, as a result, it has a direct relationship with the increase in property prices.
3. Ease of administrative process and simplicity of document registration
Unlike many countries, this country has a simpler process for residence, as a result, you do not need to establish a company to buy property in North Cyprus . In the continuation of the legal and administrative process in these stages, it is very easy and simple that you can quickly proceed with the case. In general, by paying 30% of the total cost of the property, it is registered in the name of the desired person, and it is immediately possible to complete the residence procedures within three weeks.
4. Easy living conditions in Cyprus
Very easy conditions have been considered for people who intend to stay in this country for a long period of more than 6 months, but they must apply for a residence permit, so to obtain a residence permit from the purchase of a property, after the purchase stage, the relevant documents must be submitted to the registration offices and Pay taxes and register the property in the name of the intended buyer. Also, the issuance of a license does not mean the applicant’s permanent presence in Cyprus, and the buyer can leave or enter North Cyprus at any time and for any period of time. In the same way, some people leave Cyprus after buying a property and obtaining residence and leave the house for annual rent.
5. Obtaining permanent residence
After staying in Northern Cyprus for 5 years (without the need to live continuously and stay on the island for the entire period), foreigners will have the right to receive a 5-year residence card of this country.
In general, North Cyprus is one of the best options for investing and buying real estate in the world. Both you and your dear family will benefit from the facilities and prosperity of this green island, and you will be sure of the security of your capital. Contact us for more information about investing and buying property in North Cyprus. You can also contact us by requesting advice.
