Prices are average prices determined in pounds sterling. It is shared to give ideas. After selecting the property you want to buy, we will also prepare a detailed payment schedule so that you know exactly how much and when you will pay for that property.
Costs When Buying Real Estate in TRNC
Title Deed Tax
It is paid to the Northern Cyprus Land Registry Office. In the case of the first property of the person, the tax which is 3% with a discount (valid for TRNC and all foreign citizens.) is paid as 6% for all persons who have used the discount right, in the purchase of the second property. (only TRNC citizens can purchase second goods).
After signing the sales contract by both parties, 0.5% stamp fee is paid by the buyer to the tax office within 21 days and the contract is registered in the Land Registry Office, thus the buyer's property right is secured.
Transformer Contribution Cost Includes electricity, telephone, water and other infrastructure costs paid for new flats purchased from the construction company. These infrastructures, which are built by the construction company with the order of the government, are divided equally among the customers and vary between £1500-£2500 on average, paid before home delivery.
Value added tax (VAT) rate is 5%, it is paid by the buyer to the tax office before the transfer of the ear of the seller.
We recommend that you complete your process with a lawyer who is expert in deed transfers with zero error in real estate sales to foreigners. £1300-1500.
Realtor fee is 5% of the sales price + VAT and this rate is collected from the buyer. There is no buyer's commission on our prime properties, as some sellers charge this fee to make their portfolios more attractive.