Buying a home in Northern Cyprus: what it really costs
Can foreigners buy?
Yes, up to 3 properties (land cap ~1,338 m2), but each needs Council of Ministers Permission to Purchase (1-6 months); title-deed history risk.
Costs on top of the price
12-22% · Title deed transfer fee for foreigners 6-12% (sources disagree: 9% most cited, 12% in one 2026 guide) + 5% VAT on new builds (one source says 19%) + 0.5% stamp duty + legal GBP 1,000-2,500 + transformer fee GBP 1,500-3,000 on new builds.
Yearly property tax
Per m2, very low: about GBP 10-100/yr for a typical apartment or villa.
Tax on rental income
10% of gross rental income (Investra, 2026).
What holiday rentals earn
No sourced gross yield; data conflict. Airbtics Jan 2026 Iskele: 75% occupancy, ADR EUR 84, ~EUR 24k/yr, 'top 1%' for STR yield in Southern Europe. AirROI 2025-26 Kyrenia: 37.1% occupancy, ADR US$99, ~US$10k/yr.
Holiday-rental rules
Must register with the Ministry of Tourism and hold a licence for short-term letting; monthly tax reporting.