Can Turkish Citizens Buy a House in Cyprus?

We have made a detailed examination to satisfy the curiosity of the citizens of the Republic of Turkey about owning a house in Cyprus. Here is the process of buying real estate in Cyprus and things to consider:

Right to Buy a House in Cyprus

Yes, Turkish citizens can own property in Cyprus.

• TRNC:It is legal and quite easy for Turkish citizens to buy real estate in TRNC. According to TRNC law, each individual can own at most one immovable property (e.g. an apartment, a plot of land or a villa). However, those who want to buy more than one property can overcome this limitation by establishing a company.

Things to Consider When Buying Property in the TRNC

1. Research:Check the title deed and legal status of the property you want to buy.
2. Understand Title Deed Types:There are three different types of title deeds in the TRNC: “Turkish Title,” “Equivalent Property” and “Allotment Property.” Turkish Title is the least risky option in terms of legal property rights.
3. Approval Process:Foreigners buying property in the TRNC is subject to the approval of the Council of Ministers. This approval process is usually completed between 3-6 months.
4. Taxes and Fees:Consider financial obligations such as title deed fees, VAT and income tax when buying a property.

Why Should You Consider Buying a House in TRNC?

• Low Cost:Real estate prices in TRNC are very affordable compared to Turkey and other European countries.
• Investment Potential:TRNC is an attractive location for investors thanks to its developing economy and tourism potential.

• Climate and Natural Beauties:The Mediterranean climate and the peaceful environment of Cyprus make it ideal for living or vacationing.