North Cyprus Property Costs

When buying property in North Cyprus, there are many additional costs associated with property purchase that you have to keep in mind. Firstly you will need to pay your solicitor an average £1000, so that he can apply for the purchase permit from the Council of Ministers. This process on average takes something between four to five months.

After receiving the purchase permit the purchaser pays the remaining balance. After paying the remaining balance the seller signs and transfers the title deeds to the purchaser to complete the sale. The costs involved for this procedure are between £750 and £1.500.

Additional cost of 15% VAT is paid by the purchaser to transfer the property onto hi/her name. Stamp duty cost is levied at the rate of 6% by the Registry Office.

Electric Connection Costs in North Cyprus

To connect electricity to your new property in North Cyprus will cost you approximately £500. For this you will need to go in person to the Electrical Supply Company's office and sign the supply contract.

Electric Supply Costs in North Cyprus

Electricity is billed at the rate of 0.200 YTL per kWh in Northern Cyprus which comes approximately equal to any other European country. Please keep in mind that the electricity supply in North Cyprus is not very reliable; there are frequent power outages and power fluctuations. For this you are advised to arrange for a generator and for protection of your electrical equipment good surge protectors.

Gas Supply Costs in North Cyprus

There is no mains gas supply company in Northern Cyprus. For supply of gas you will need to rely on bottled gas companies. These companies provide gas in big cylinders which can be conveniently located on the back of your villa or in the garden.

These cylinders normally will last a month during the winter season.  The sizes of the cylinders and costs associated vary so you may need to check them with different supply companies.

Water Supply Costs in North Cyprus

To get water supplied to your new property; you will need to go to the Belediye (Local Council) and sign a water supply contract. After you sign the contract you will be given a Metered Connection, and billed accordingly. The water cost is 20 YTL for the total initial 20 tonnes which roughly translates to 1 YTL per tonne.