Fabulous sunshine almost all year round combined with spectacular scenic beauty, pristine beaches and exotic foods make North Cyprus a much sought after destination. More popularly described as 'A corner of earth touched by heaven', tourists come to visit but are smitten forever and end up wanting to call North Cyprus home. All this, combined with good infrastructure, superior quality of construction and affordable real estate prices make North Cyprus a good place to by a vacation home.
North Cyprus offers property buyers that very rare opportunity of owning beach vacation-houses at very realistic prices. This is made all the more irresistible by the superb coastal motor way that links all the main towns as well as the continued investment in local infrastructure.
Buying a vacation house on the beach is a great way to accommodate family and friends who are holidaying in North Cyprus and are looking for a place to stay. If you own a vacation home on a beach in North Cyprus you can also rent it out to tourists who come to stay long-term in winter in order the escape the biting cold of their own countries. Whether you buy it for personal holidays or as a real estate investment, a Cyprus beach vacation home in just about any coastal location is a tempting proposition. You can sit back and watch your investment grow and increase even as you bask in the sunshine in this sunny paradise.
If you intend purchasing a vacation home in Cyprus you will have to first sign an agreement with the company that owns the selected property. You will then have to get the contract signed at a cost of L1.50 per L1000 of the value of the contract. Within a month of getting it signed, the contract is deposited at the Land Registry for the purpose of securing the Purchaser's rights.
Foreign investors are required to furnish proof that they have sufficient funds in foreign currency to cover the cost of securing the purchase. This money should necessarily have been transferred to the Cyprus Central Bank from an external account. If you intend cash and are carrying it with you in person, you will need to furnish proof that you had declared the same at the airport. After obtaining approval of import from the Cyprus Central Bank, the same has to be furnished to the Land Registry prior to getting the Title Deed of the chosen property transferred into your name. An application also has to be made to the Council of Ministers for obtaining permission to own property in Cyprus.
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