Flat for Sale in Cyprus

With its natural beauty, geography, climate arising out of its being an island country, and the fact that its every city is another center of attraction, Cyprus is the first choice of Turkish citizens who want to purchase a flat for sale. The most important reason why Turks and foreigners would like to have a house on the Island is the fact that it is a continuously developing country. Having ever-increasing investments every other year in tourism, the country also receives serious investments in the education sector.

A Country of Tourism and Education

Having been transformed into a country of tourism and education, Turkish Republic of Cyprus is thus among the latest favorites of the investors. In the country, Nicosia, Kyrenia, Famagusta, Trikomo, and Güzelyurt are the favorite tourism and investment areas. Since there are universities and faculties in these areas, they are also the living spaces of students. As regards the flats for sale in Cyprus, these cities are preferred mostly by those who have investment purposes, as they provide the highest profits in terms of rental income. As the prices are, and the sales are made, in Sterling, one gains an advantage over Turkish Lira. While you have the right to purchase only one villa in Cyprus, you may buy 3 flats on your name.

A Heaven with Its Living Conditions

In order to own a real estate in the country, one should apply to the Council of Ministers and to wait until its decision to be made. Following the issuance of the decision in approximately 2 months, you may stay in the country for 90 days. Residence permits are given for 90 days, but it is possible to extend them until one year. If you are retired, you may obtain a residence permit by making a statement of income. Turkish Republic of Northern Cyprus, heaven with its nature, view, sea, and living conditions, is a country where significant projects are realized with the newly adopted real estate law.

It Is Possible to Find an Appropriate House at Every Standard

It is known that an increasing number of investors have an interest in the country, as the housing prices are still lower than those in many other coastal countries. It is possible to find an appropriate house in every city of the country at every standard. It is seen from the researches on a flat for sale in Cyprus is that the flats are generally 3+1, however it is also possible to find 2+1 or 1+1. The location and age of the building, as well as its distance to the sea or city center, are among the factors determining the house prices. The monthly rental income of a flat whose average price varies between 200 and 400 thousand lira, is between 1800 and 6 thousand lira on average. Annual rental price is a common practice in Cyprus. In other words, you need to pay the rent for one year in advance for the flat you would like to rent in any district. This is a great advantage for especially those who would like to purchase a house for investment purposes.

Real Estate Sector is Buoyant and Dynamic throughout the Whole Year

While the settled population of the Island is around 300 thousand, those who live there exceeds 600 thousand. This demonstrates that the island is a country full of students and foreigners. As this is the case, it is rather natural for it to have a buoyant and dynamic real estate sector throughout the whole year. Cyprus is the first choice for those who would like to make an investment that brings a profit at a high rate and especially for the Turkish citizens. Turkish investors and those who make research on flats for sale in Cyprus are interested in every district of the country.

There Are Three Kinds of Deeds in the Country that Are Called ‘Coupons’

There are some aspects that need attention when purchasing a flat in Cyprus. There are 3 types of deeds in the country that are called ‘coupons’. The deeds of the places which were owned by the Turkish and English people before 1974 are called the Turkish deeds, the deeds given by the ITEM law dated 1977 are called exchange deeds, and the deeds given for the places allocated by the state of Cyprus are called allocated deeds. Those which are the easiest to purchase are the Turkish deeds. Therefore, one should be really careful in purchasing a flat for sale in Cyprus.