Sterling / Pound / £ Although the official currency in Northern Cyprus is ₺, since it has become a region where foreigners often buy housing, prices in the housing and vehicle market are determined in foreign currency.

While an investment you make in Cyprus pays for itself in an average of 8 years with rental income, With the increase in real estate value, it provides depreciation within 4-6 years.

While providing an annual return of 6%-8% as a rental guarantee, Rental transactions amount to an average of 1.000£ (20.000₺) per month during the 7-month Cyprus Summer Season. (This is the evaluation for Studio / 1+1.)

First you choose the flat you want to buy; We reserve the apartment against a deposit, Contracts are signed with the payment of the down payment, We formalize the contract from the Turkish Republic of Northern Cyprus Tax Office and annotate it at the Land Registry Office.

The annotation placed on the title deed during the contract is concluded with the purchase of the title deed at the end of the payment.

0.5% stamp duty is paid to formalize the contract from the tax office. While annotating the title deed office, a mortgage fee of around 200₺ is paid according to the size and price of the flat. At the end of the payment, 1% is paid as Title Deed Fee to the Land Registry Office for the transfer of title. 5% VAT is paid. A transformer contribution fee of around £1,500 is paid for all new flats purchased throughout Cyprus. In addition, an opening fee of around 2.000₺ is paid as electricity and water opening fee. (To be returned in case of transfer or sale of the flat.)