Flat in Northern Cyprus. City - Famagusta
North Cyprus real estate — 1+1 apartment for sale in Famagusta, fully furnished apartments in the completed residential complex Uptown Park by NorthernLAND. The apartment is located in the center of Famagusta, on the 5th floor, block P, apartment No. 5. The property is suitable for buying real estate in North Cyprus both for own living and for investment and rental income.
The contract area of the apartment is 56 m². The layout includes a separate bedroom, a spacious living room with an open-plan kitchen, one bathroom with a shower, and a balcony.
The apartments are sold fully furnished and equipped with household appliances. The apartment has a refrigerator, washing machine, oven, hob, extractor hood, and TV. Air conditioners are installed.
Uptown Park is a completed residential project in a convenient part of Famagusta. The territory includes an outdoor pool, parking, central generator, water pump, and satellite system. Nearby are supermarkets, restaurants, medical centers, and Eastern Mediterranean University (EMU). The distance to the popular Glapsides beach is about 2.9 km.
The apartment is of interest to those looking for an apartment for sale in Famagusta, real estate in North Cyprus, 1+1 apartments in North Cyprus, investment real estate in Famagusta, or a ready apartment with a tenant.
Currently, the apartment is under a long-term lease. The lease agreement is concluded between the owner of the apartment and the tenant — an individual.
The lease is arranged through NorthernLAND Construction Ltd. The rent for a full year is $6,000 and is provided as a single payment. The term of the current lease agreement is from June 26, 2026 to June 26, 2027.
The terms of transferring the current lease agreement to the new owner are agreed upon by the parties when concluding the transaction.
Thus, the property may be of interest to investors who are considering buying real estate in North Cyprus with an existing rental income.
In Cyprus a residence permit is typically issued based on a minimum investment threshold. Applications are reviewed within 30–60 days in Famagusta; you will need a passport, proof of funds, and the ownership documents. Hatamatata helps prepare and submit the paperwork.
Banks in Cyprus finance 50–70% of the property value for non-residents with rates of 3–5% for 20–30 years. A life insurance policy and a 30–40% down payment are usually required. Terms and programs vary by city and bank.
Expected expenses: transfer tax 0–15%, registration 0.5–2%, notary 0.5–1.5%, agent commission 0–3%. In total 2–20% on top of the purchase price. Exact rates depend on region, property type and programs.
A title search at the land registry of Cyprus takes 10–15 business days. You receive ownership, encumbrance and tax clearance certificates. Documents are translated and reviewed by a lawyer before signing.
Yes. Rental income tax is 5–25% depending on the regime. In Famagusta short-term tourist rentals typically yield 5–8% per year. Municipal permission and income registration are usually required.
Yes. An inspection costs about 0.5–1% of the price (93 346 $) and covers structure, utilities and legal status. Hatamatata arranges a qualified engineer with an EN/RU report.
A typical transaction runs 30–90 days, averaging 45 in Famagusta: due diligence (10–15 days), notarization (5–7 days), registration (10–14 days), residence permit (30–60 days, if needed).
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