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20.03.2024

REAL ESTATE IN NORTHERN CYPRUS: where to buy

The content of the article:

  • The History of Northern Cyprus
  • RESIDENCE permit for HOW LONG
  • Real estate prices
  • The best cities in Northern Cyprus

 

Oh, this Achilles heel of Cyprus. Or is it still not Achilles'? There is little information about the historical conflict between Northern and Southern Cyprus. Only data is given in which year and from which side it all started. For a long time, the dispute over territory between Turkish Cypriots and Greek Cypriots was of a belligerent nature. Several times the representatives sat down at the negotiating table, but either the Turkish side or the Greek side could not come to an agreement. In 1983, Northern Cyprus declared itself the Turkish Republic of Northern Cyprus, but no one recognized the Republic except Turkey. This affected the decrease in the flow of tourists, which led to the decline of some resort towns in Northern Cyprus and did not have the best effect on the country's economy. Then the parties established a truce, separating from each other by the "green border". As a result, you can travel to both parts of Cyprus, subject to the main rules:

  • Entry through Northern Cyprus is considered illegal, so Russians need to open a Cyprus national visa or have a valid Schengen visa and enter the country through international airports or seaports in Cyprus. 
  • Despite the fact that Northern Cyprus has its own airport, it works only with Turkish airlines, it is closed to other carriers. Moreover, if you decide to fly to Cyprus at Ercan Airport, the southern part will most likely refuse to issue a Cyprus national visa.
  • From the Greek part of the island, you can get to the Turkish one through special checkpoints. The procedure is short-lived, but mandatory. The Northerners will most likely stamp you on a special letterhead, which gives you the right to stay in this part of the island for about a month. If it is necessary to extend, you will need a passport, a return ticket, a place of residence and the purpose of extending the stop. After that, you can stay for another 3 months. 
  • In Northern Cyprus, you can also open a work visa, only for those whose position is relevant and does not take away the jobs of local Cypriots.
  • It is quite easy to get a residence permit in Northern Cyprus by investing money in real estate according to the established rules: the main thing is that at least 30% of the cost of housing is paid and the purchase and sale agreement is executed in the land department. And if earlier the rental business did not bring the expected income, then since the end of 2022, real estate prices have increased significantly here. After the pandemic, many tourists discovered the northern part of Cyprus, where they can enjoy a fairly budget vacation. The British also love this part of the island. About 80% of luxury housing belongs to them. Recently, investors have been coming here from different parts of the world. First of all, they are attracted by affordable housing prices.
  • We should immediately note that it is hardly worth going here in search of work, it is impossible to find and get it without special permission. But becoming an investor or buying a vacation home is a great solution.

 

Many doubt the safety of this part of the island, as there are still British military bases there. Yes, there are military bases there, this is rather due to the fact that Cyprus was a British colony. But the myth that it is dangerous there is far—fetched. The Northern Cypriots are very friendly and open. The country has a low crime rate: citizens lead a calm and measured life. Most cars don't even have an alarm system, all houses are without grilles and special protection systems. Needless to say, this is surprising to many European residents of large cities, not to mention our compatriots. 
Medicine is well developed in Northern Cyprus. For citizens, medical care is free, tourists can seek insurance help, but if something urgent happens, you will be hospitalized without it. And recently it became known that a large medical center is being built in the capital of Northern Cyprus (from the Israeli subsidiary Hadassah Medical Ltd), which will provide a wide range of services: from complex operations to complete rehabilitation of patients. The advantage is that a hotel will be built at the clinic, designed for relatives of patients of the medical center.
The Cypriots of this part of the island treat children with reverence. Excellent kindergartens and schools work for them, and the level of education of universities is recognized all over the world. Turkish Cypriots speak English perfectly, so this part of the island is loved by British pensioners, who in their declining years prefer to have a house on the Mediterranean coast.

Real estate prices also vary. As a rule, everything determines the location, the year of construction, the number of bedrooms and the complete set of housing, plus the multi-storey building and the distance to the coast are taken into account.
You can also pay attention to the objects under construction, they will cost much cheaper, and in the future you will be able to become the owner of your own house, which can be sold much more expensive. There are also pitfalls in this area, because you can get caught by unscrupulous agents who may not offer the options you dreamed of. Therefore, contact agencies with a proven reputation. 

The best cities for investing in real estate in Northern Cyprus remain:

  • the resort towns of Kyrenia and Famagusta;
  • for a measured and calm life — Lefke and Morphou;
  • Well, the capital of two states at the same time is Nicosia (Lefkosha). 

The wealth of Kyrenia is its stunning views: in the north there are mountains, on the south side there is the sea. At the same time, the city has developed infrastructure, international schools have been opened: the American University of Kyrenia and the British School of Kyrenia. Diploma of education in these institutions at the level of many prestigious universities in Europe. In Kyrenia itself, housing prices are higher than in areas located near the city. Therefore, if you are looking for a house at an affordable price, then feel free to go to the suburbs near Kyrenia. Life in this place is more peaceful and quiet, because there is no such flow of tourists, and you can get to the center by bus, your own car or taxi. The distance is no more than 14 km. 

Famagusta, in addition to the cleanest sandy beaches, attracts those who want to plunge into history here. Old ruins, buildings of the ancient Romans, an archaeological park — all this will be presented to you by Famagusta. You only need to take into account the fact that the education of children here is mainly in Turkish. A school at the University of the Eastern Mediterranean is open for English speakers. Real estate prices are very different. You can buy a beautiful villa for 500,000 pounds. And you can buy a two–room apartment near the sea, within 80,000-100,000 pounds.

Lefke is located far from the sea and, rather, is suitable for living here with the whole family in their own house, located on a fertile plot of land. Climatic conditions allow the cultivation of dates, lemons, tangerines, plums and other fruits. But Lefke is not exactly a rural town. The infrastructure is no worse developed here than in large cities. Schools, kindergartens, roads — everything is at a good level. The training is conducted in Turkish, since this part of Cyprus once belonged to the Ottoman Empire. The inhabitants have preserved the culture and traditions of the Turkish people, as well as rare architectural monuments of the Ottoman Empire of the 19th century. The town also has its own university — a European one, where students from Asia and Africa come mainly.

Morphou is also a small town, free from the hustle and bustle of the city. It is surrounded by greenery, as it is surrounded on one side by pine forests, and on the other by citrus orchards. But the main attraction of the city is the Church of St. Mamas. It was built in the 12th century, until now it has been rebuilt several times, while preserving the interior of the temple in its original form. Entrance is paid, as for the local population it is not just a church, but a real museum. However, one ticket is issued: for a visit to the temple and a visit to the Museum of archaeology. The inner streets of Morphou have paving stones, the more colorful and interesting it is to walk here. 

Nicosia or Lefkosha — the northern Cypriots call their capital that way. The very “green zone”, the UN buffer zone, is located in this city. The only reminder of the past conflict is the presence of military personnel at the checkpoint, and so it is possible to move from one part of the city to another (southern) (this was written a little above). The city is located at an altitude of 170 m above sea level and holds the secrets of two peoples: Turks and Greeks. There are many architectural buildings in Nicosia that have preserved the historical appearance of ancient times from the outside, and inside they have undergone many transformations for the convenience of a modern person. Lefkosha is the main financial and economic center of Northern Cyprus. Large global companies, embassies, banks, government agencies, shopping malls are located on its territory — everything that determines the economic level of the state. Of course, this also affects the cost of buying and renting a home. In this part of the island, real estate prices are the highest compared to other regions. The price range for apartments in new complexes and a prestigious area starts from 100,000 pounds, and it is still cheaper than the cost of the same apartment on the south side of Cyprus. 

REAL ESTATE IN NORTHERN CYPRUS: where to buy.

Recently, information appeared in the media about Cyprus's entry into the Schengen area. This caused a flurry of emotions: How can the South join without the North? We recently also published an article on this topic, where there were also comments of this nature. But let's figure it out: What do you lose as a property owner in Northern Cyprus? Hand on heart, nothing. To join the Schengen area, Cyprus must either unite and become a single Republic with the same entry and exit passes, or recognize Northern Cyprus as a separate state — the Turkish Republic of Northern Cyprus, and then agreements on border posts and visa rules will be revised.  In both cases, you remain the owner of a property in Cyprus. Time does not stand still, rules are changing, laws are being amended, and for this we need competent specialists who will help you make the right choice and give accurate advice on the purchase of real estate. 

Make an appointment for a consultation.

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