Buying property in Northern Cyprus involves mandatory taxes and registration fees. To properly budget for the transaction, it is important to know the current rates and additional costs.

All rates listed in this article are current at the time of publication. They are subject to change in accordance with Northern Cyprus legislation.

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Main Costs of Buying Property in Northern Cyprus

1. Stamp Duty
Rate: 0.5% of the property value. Payable upon registration of the purchase agreement.

2. VAT
Rate: 5% of the property value. Applies to new property purchases.

3. Transformer Fee (connection to utilities)
Amount: From £1,500 to £5,500, depending on the project.

4. Title Transfer Fee
General rate: 9% of the assessed value of the property, divided into two parts:

• 6% is paid upon registration of the purchase and sale agreement
• 3% is paid upon title transfer (registration of ownership)

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Additional Costs of Buying Property

In addition to the basic taxes, the buyer also pays:

• legal support for the transaction
• connection of water and electricity meters

The amount of these costs depends on the type of property and the specific conditions of the project.

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Final Costs of Buying Property

On average, the total costs of buying property in Northern Cyprus are 10-14% of the property price, including all taxes and fees.
Before signing the contract, we recommend individually calculating all payments, taking into account the specifics of the selected property.

HUB Property Agency assists clients throughout every stage of their property purchase in Northern Cyprus, helps calculate taxes and fees, and ensures the correct processing of all payments.