• Titles
• Legal Fees
• Taxes
• Connection Fees
• Service Charges
• Letting Opportunities

The Government of the Turkish Republic of Northern Cyprus issues all title deeds through the Land Registry Office and officially there is only one type. Unofficially, it is common to regard the following four distinctions as far as the buyer is concerned. Buyers are advised to take professional advice and we can recommend suitably qualified lawyers.

• FREEHOLD (Foreign or Turkish pre '74)
• EXCHANGE (commonly known as Esedger)
• TRNC TITLE (also known as TMD or Tahsis)
• LEASEHOLD

Most North Cyprus lawyers charge a fixed fee of £1000 which covers the purchase of a property and most importantly, the process of obtaining an application to purchase from the government.

On the purchase of a North Cyprus Property, there is a purchase tax of 3.5% and VAT of 5%. These are calculated on the Land Registry Valuation of the property rather than the market price and is typically around 10% of the purchase price.

New properties are connected to electricity, telephone and water supplies on the completion of the development and the utility companies charge each property an amount based on the cost of connecting the development. The cost varies depending on the area and the distance from the nearest supply but is rarely more than £500 in total.

Most new developments of villas or apartments that have communal facilities now arrange maintenance and will charge an annual service charge.

The North Cyprus holiday market is growing rapidly and there can be a shortage of hotel rooms at peak seasons. The letting market is therefore buoyant and we offer a management and letting service for our developments that should produce a healthy income.