Key Stages in Purchasing a Property with Unique Homes Cyprus.

We will hold the property’s value steady for 2 to 4 weeks as we get ready for the transaction. The deposit generally ranges from £2,000 to 5% of the property's overall price.

We manage all the details and draft the contract. Once prepared, we will go over the document with you, discuss the terms, and proceed to sign it. Legal assistance is available for £1,300.

At contract signing, a down payment is required, followed by specific transaction fees: a 0.5% stamp duty and a 6% land office registration fee. The minimum down payment is 30% of the property's cost. Upon completing registration and tax payments at the land office, the next step involves securing a purchase permit from the Ministry of Interior, which requires a conviction report from your country of origin. For additional information, you may contact us.

At the key handover stage, payment of the transformer fee is required. To connect water and electricity, registration with the municipality and district electric office is necessary. The transformer fee, detailed in the sale contract, ranges from £1500 to £3500.

When buying property in Northern Cyprus, VAT is paid just once—either at the time of key handover or during the title transfer, based on the construction company's policy. The VAT is 5% of the property's value. To gain full legal ownership, the title deed must be transferred to your name, which incurs a fee of 6% of the property's value. These payments must be made after receiving approval from the Ministry to continue with the purchase.

The annual property tax varies by location and is set at 4 Turkish Liras per square meter.