Buy property in North Cyprus
The buying process
Agree the price, terms of payment and receive a written confirmation of all additional extras and specifications – Freedom will assist you throughout this process to agree on the best terms with you and the developers or vendor.
Most developers in North Cyprus will offer up to 3 years interest FREE for off plan projects, and they may even offer an extended period beyond this at very low interest rates. A typical payment plan looks like this:
£2000 Reservation Fee (Non-refundable)
- – 35% on contract agreement (normally within 1 month)
- – 20% on foundation completion
- – 20% on Skeleton completion
- – 20% on windows and tiling
- – 5% on completion or key handover
Points 3,4,5,6 are normally over a 24-month period off plan, however it’s wise to negotiate with the developers to find a plan that suits you, and if you are buying a completed property which is key ready to move in, then a specific payment plan will be needed.
There are always extra costs involved when buying a property abroad, such costs would include:
- - Electricity transformer contribution
- - Water infrastructure contribution
- - Electricity and Water meter deposits
- - Lawyer and Power of Authority fees
- - VAT/KDV (on new builds and some services)
- - Furniture packs and kitchen appliances/AC units/Heating
- - Insurances
- - Bank transfer fees
- - Title transfer fees
Contact our North Cyprus office
We’d love to hear from you! Send us a message using the form opposite, or email us.