We believe that you can only make a good decision that you are completely comfortable with if no question is left unanswered.

Buying a property in North Cyprus

Yes, there is a land register system in Northern Cyprus. The land register is used to document and manage ownership rights to real estate. When you purchase a property in Northern Cyprus, the transfer of ownership and the ownership rights are recorded in the land register to ensure legal certainty and clarification of ownership issues.

In order to register a property in the name of a foreign national, an application must be made to the Cypriot authorities (Council of Ministers) for a property purchase permit. All you need to do is show your passport and we will help you to complete the filling of necessary documents.

You can view the entire process from the first non-binding introductory meeting to the subsequent move-in and later support here.

Yes. “In North Cyprus, it is best to buy real estate OFF PLAN, meaning before they are built or completed. At the beginning of the construction phases, prices are 30-50% cheaper than after completion. In advance, a reservation fee of between £5,000 and £8,000 GBP is paid to take the property off the market for 2-4 weeks and reserve it at a fixed price (even if the price increases in the coming weeks). This amount is offset against the purchase price or is non-refundable in case the customer cancels later (administrative expenses for Mein Nest).”

Mein Nest focuses on the best locations in North Cyprus (Iskele,Kyrenia, Esentepe…), where 95% of Europeans and many German and Swiss customers make their purchases. Apartments start at around £75,000 GBP, and apartments and terraced villas are in the price range of approximately £190,000 GBP to £350,000 GBP. The purchase price per square meter of usable space, in some cases, is less than £2,000 GBP (about €2,160 as of August 2023) for new top-quality properties, which is significantly more affordable than in other European countries. In addition to this, there are purchase-related costs, furniture, and furnishings. There are hardly any limits at the upper end; it depends entirely on your desires and requirements

According to the data provided by the ministry of education. In Northern Cyprus, 7 out of 10 young people have received at least a university education level.

We currently calculate a net yield of 5-6% when renting out a property, including the use/payment of a complete external property manager (approx. 30% rental costs).

The service charges for owner-occupiers are relatively low, the property tax is only 1.25TL /m2. As an example for a 120m2 apartment, the annual service charges are approx. 150 TL (currently 5.10€). In addition to this you will have to pay monthly maintenance fee.

The purchase contract is drawn up in 2 columns in Turkish and English.

The Turkish text is always the legally valid one.

The purchase contract is signed by the seller, buyer and lawyer.

Then the purchase contract is notarized by a notary public (with power of attorney, Mein Nest can sign on behalf of the buyer)

After this, the buyer usually pays 30% of the purchase price as a deposit, which is required for registration in the land register. The buyer pays 30% and 0.5% stamp duty to their solicitor, who forwards this to the public administration.

Normally, the contract should be registered at the Land Registry 21 days after the signing of the purchase contract.

Then every foreign buyer must apply for a purchase permit from the Ministry. This procedure is also undertaken by the lawyer and takes up to 6 months. However, the buyer can move in, rent out or even sell their property before then.

Finally, the title deed is issued together with the final valuation report and the land transfer tax invoice.

Real estate in Northern Cyprus is always paid in British Pounds (GBP)

Taxes payable on the net purchase price are 0.5% stamp duty (payable on registration of the contract of sale), 5% VAT (payable on completion by the developer but not on private resale) and 12% land transfer tax, a total of 17.5%.

Land transfer tax is payable at 6% on registration of the stamped deed of sale at the Land Registry and a further 6% on transfer of the title deed into the buyer’s name. This “Title Deed Transfer” including the 6% tax is optional. We recommend individual advice from (our) lawyer.

Other notable additional costs include approx. 2,000 GBP for legal fees, 1%-2% notary fees and development costs of approx. 3,000 GBP.

Apart from the small reservation fee to be charged later, there is no fee for the buyer via Mein Nest.

Example: Net purchase price 250’000GBP, therefore approx. 302’500GBP gross.

As a rule, off-plan projects offer interest-free payments over several years (at least until completion and up to 3 years if the property can be lived in, rented or sold before full payment is made). Mein Nest can arrange financing (our contract allows foreigners to submit an application to the bank in Cyprus (up to 65% external capital share) and then process this partly with the bank branch in the home country), but this must ultimately be checked individually and cannot be guaranteed in advance.

Foreigners can only buy either a plot of land, a villa or an apartment. Other purchases can be made through a trustee or a company, which Mein Nest can assist you with.

The contract of sale should be registered with the Land Registry within 21 working days of the date of signing.

In order to be registered as the foreign owner of the property in the Land Registry, an application for approval from the Ministry is required. Such approval is a procedural and usually takes up to 6 months, however, the owner can fully reside, rent and sell the property before then.

Life in Cyprus

In Cyprus you will find a relaxed, Mediterranean island lifestyle. The warm hospitality of the people, the diverse culinary palette with specialties such as halloumi and mezze and the picturesque architecture of the towns and villages give Cypriot culture its unique charm.

Cyprus is an interesting mix of tradition and internationality. The island has a deep historical and cultural tradition that is reflected in various aspects of life, such as religious festivals, family structures and local cuisine.

At the same time, however, Cyprus is also strongly characterized by international influences, particularly due to its strategic location in the Mediterranean. Cities such as Nicosia, Limassol and Paphos have a modern, cosmopolitan atmosphere with international restaurants, stores and cultural events. Tourism plays an important role, bringing different cultures and influences to the island.

Overall, it can be said that Cyprus has found a successful balance between tradition and internationality, resulting in a diverse and rich culture.

Northern Cyprus is considered to be very safe as the crime rate is comparatively low.

This is very good, there are both state and private hospitals and the standard of medical care is particularly high in the private hospitals. The private hospitals have very modern equipment and are characterized in particular by their experienced and qualified doctors, who have often been trained in Europe or United States

For stays of > 6 months per year, either private emergency insurance or state health insurance is required as part of the residency process. Otherwise, travel insurance from your home country is usually sufficient

In general, basic products are significantly lower than in Europe.

Examples: The average cost for a 3-star hotel is about €50 and. in a luxury hotel about €70-€80 per night. Public transportation: 1-3 Euro

Rental car: Around €13-15 per day in high season, otherwise even cheaper

Restaurant: In restaurants, you pay an average of around €20 with starter and drink for 2 people.

Food: Food prices in Northern Cyprus are on average slightly cheaper than in Europe.

Average net income: The average salary in Northern Cyprus is 500.00 Euros.

The education system in Northern Cyprus meets European standards. As Cyprus has many immigrants, the kindergartens and schools are also characterized by multiculturalism. Both locals and the children of emigrants can attend state institutions and receive a high-quality education.

In addition, Northern Cyprus offers a selection of international private schools at a good price. The colleges and universities in Northern Cyprus are internationally recognized. There are also branches of foreign universities on the island.

Für den Besuch von Immobilien erhalten Ausländer ein 60- oder 90-Tage-Visum.

Nach dem Kauf einer Immobilie mit Eigentumsurkunde wird immer ein 90-Tage-Visum erteilt oder Ausländer erhalten eine einjährige verlängerbare (für die ersten drei Jahre) und danach eine zweijährige Aufenthaltsgenehmigung.

Staying outside an EU country incurs additional costs for you with the provider. We therefore advise you to buy a local SIM card (approx. €6 for 10GB), unless you have taken out an additional tariff for non-European countries.

Basically, anyone who has a driving license is allowed to drive in Northern Cyprus. However, it should be noted that a foreign driving license can be used for a maximum of three months. After these 3 months, a driving license from Northern Cyprus is required. According to the Traffic Department of Northern Cyprus, the following documents are required to obtain a driver’s license: Passport and a copy of it, 2 photos, original driver’s license from the home country and a copy of an application, receipt of payment of the fee (the amount depends on the validity period of the license – for 2, 3 or 5 years). Note: currently (February 2023) a driving test (theoretical exam) is required on site if you want to get the TRNC license.

Northern Cyprus uses the Turkish Lira as its currency. However, you can pay almost anywhere (supermarkets, petrol stations, stores, cabs, etc.) in Euro, GBP or USD and get the remaining money back in Turkish Lira without any loss. In the real estate sector (and also for cars), however, everything is quoted in British pounds (GBP), as the Turkish lira is subject to strong fluctuations.

Foreigners are issued a 60 or 90 day visa to visit properties.

After buying a property with a title deed, a 90-day visa is always issued or foreigners receive a one-year renewable (for the first three years) and then a two-year residence permit.


Dieses Textmaterial und die Informationen, die in diesem Q&A und auf unserer Website präsentiert werden, werden bereitgestellt, um die Möglichkeit des Kaufs einer Immobilie in Nordzypern für eine interessierte Partei oder Person zu prüfen und sollten nicht als Rat oder als verbindliche Empfehlung von MYNEST oder einer ihrer Tochtergesellschaften zum Kauf in Nordzypern interpretiert werden. Diess Textmaterial basiert auf Informationen, die sich ändern können, auf verschiedenen Annahmen (von denen wir nicht versichern können, dass sie sich letztendlich als richtig erweisen) und auf überarbeiteten Analysen. Die dargestellten Beschreibungen sind Informationen, die nach bestem Wissen und Gewissen von Mein Nest aus den verfügbaren Marktinformationen zusammengestellt wurden, aber möglicherweise nicht genau, aktuell oder vollständig sind. Für die Vollständigkeit, Richtigkeit und Ausführlichkeit der Daten und Beschreibungen wird keine Gewähr übernommen.

Die Anleger können zukünftige Situationen erleben, die wesentlich von den dargestellten Informationen abweichen. Die Qualität und der Verlauf der Immobilieninvestitionen hängen von den tatsächlich getätigten Investitionen und den in der Zukunft geltenden Wirtschafts-, Zins- und Wettbewerbsbedingungen sowie Gesetzen und Vorschriften ab (die sich von den in den beigefügten Unterlagen dargestellten und/oder den derzeit geltenden Bedingungen unterscheiden können).

Wechselkurse können dazu führen, dass der Wert der zugrunde liegenden Anlagen sinkt oder steigt. Auch kann die wirtschaftliche und politische Lage unbeständiger sein als in etablierten Volkswirtschaften, was sich negativ auf den Wert der getätigten Investitionen auswirken kann.

Potenzielle Immobilieninvestoren sollten auch ihre eigenen Untersuchungen und Analysen der von Mein Nest vorgeschlagenen Immobilieninvestition durchführen und eine unabhängige Bewertung des Angebots vornehmen, ohne sich auf diese Unterlagen oder Mein Nest zu verlassen. Darüber hinaus wird potenziellen Anlegern dringend  empfohlen, ihre  eigenen Rechts-, Finanz-,  Buchhaltungs- und Steuerberater hinsichtlich der Auswirkungen einer Investition in die vorgestellte Immobilie zu konsultieren.


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