Apartments in Kyrenia
If you are interested in buying overseas property, consider apartments in Kyrenia for investment and living. It is a charming coastal city in Northern Cyprus, famous for its picturesque harbour, historical sites, multicultural environment and cosy atmosphere. It is conveniently located: from here you can easily reach Nicosia, Famagusta, and Ercan International Airport.
Apartments for sale in Kyrenia are well-thought-out and located in modern residential developments. Many of the complexes have internal infrastructure with swimming pools, relaxation areas and sun loungers. They are fully guarded and have concierge service and other amenities. There are also older flats in Kyrenia, meaning each buyer can find something that matches their preferences.
Kyrenia District is one of the best places to buy property in Northern Cyprus. Each area here has something unique about it. Below are the most popular ones.
- Lapta: Located on the northwestern coast, the town is famous for its quiet beaches and magnificent sea views.
- Karaman: Built near the Beşparmak Mountains, Karaman offers a unique combination of picturesque mountain landscape and proximity to the coast.
- Esentepe: This village allows you to enjoy a serene atmosphere amid beautiful nature.
- Girne (old town): If you prefer historical locations, you can consider buying a property in this old town of Kyrenia. It is home to quaint stone houses, beautiful cosy streets, authentic restaurants and shops.
- Karakum: This village is popular with foreign buyers due to its convenient location and well-developed infrastructure.
The procedure for buying an apartment in Kyrenia is quite simple. After negotiations and agreeing, the buyer makes a deposit, which is usually 15% of the property cost. The contract of sale is then signed. For this procedure, it is recommended to hire a lawyer, since it is necessary to register the contract in the buyer’s name, register the title and conduct the due diligence of the transaction. Today, developers rarely prepare contracts themselves as this is usually entrusted to the buyer’s lawyer.
Some companies sign the contract of sale after the deposit is paid, but generally, this happens when the first payment is received. The size is 30% or more of the purchase price.
Next, the contract of sale is registered with the Land Registry. This must be done within 21 days of signing the contract. It is mandatory to pay a stamp duty of 0.5% of the property value. Upon completion of all procedures, the keys are handed over and the buyer becomes the owner of the apartment.
The buyer must also pay VAT of 5% of the apartment cost. This is usually paid when receiving the keys.
Cost of apartments in Kyrenia
Apartment prices in Kyrenia, Northern Cyprus depend on the year the building was built, property area, location and other parameters. For example, you can purchase a 43-square-metre unit on the secondary market for about EUR 67,000. The apartment has a 12-square-metre terrace, is furnished and has all the necessary utilities. The property is located in the Chelsey Village community in the village of Arapköy. The windows offer views of the sea and surrounding natural beauty. The gated complex features three swimming pools and a children’s playground. There are sufficient shops nearby, and restaurants and supermarkets are within a 10-minute drive. You can also reach Alagadı Beach, one of the most popular in Northern Cyprus, in just 10 minutes.
EUR 150,800 can buy you a 2-bedroom apartment in a new development. The living area is 49-square-metres, and there is also a 17-square-metre terrace. The property is in Esentepe, just 200 metres from the sea. The complex in which it is located is gated and has premium infrastructure. Residents have access to a large outdoor and indoor heated swimming pool, allowing them to swim all year round. The residential complex also has a basement floor with a spa area, featuring a sauna and hammam, and there is a fitness room for working out. In addition, the complex has a cafe/bar. The apartment is finished with high-quality materials and is sold with built-in wardrobes, double-glazed windows, ceramic tiles, plumbing fixtures and air conditioning.
Another example of flats for sale in Kyrenia is a 3-bedroom duplex worth EUR 488,000. This wonderful property is located in a 3-tower residential complex, which is in the heart of the city. The 174-square-metre unit is currently still under construction. The duplex will be delivered move-in ready, featuring all necessary utilities and panoramic glazing. Residents of the complex will have full access to a fitness room, spa area and indoor pool. The property is just a 12-minute drive from Zeyko Beach and a 30-minute drive away from Ercan Airport. The area also has an old harbour, restaurants, cafes and shops within walking distance of the complex.
Buy an apartment in Kyrenia
Purchasing apartments in Northern Cyprus is an excellent opportunity to relocate, holiday and make a good investment. The average payback period for real estate is 15 years, and the average return ranges between 8 and 12%. Moreover, some developers promise a return of up to 17% per annum. The property market in Northern Cyprus is developing, new developers are coming into the industry and more and more people want to buy a home in this piece of paradise. Our real estate aggregator website, which contains current listings from trusted developers and agencies, will help you navigate the variety of existing offers. Think about investment apartments in Kyrenia and find the right property today!