Flat in Northern Cyprus. City - Famagusta
ID SA-3123
Address: Famagusta center
Property area: 115 m²
Bedrooms: 3
Bathrooms: 2
Year built: 2023
Property type: 3+1 Three-Bedroom Apartment, Apartment
Features
Description
So, the project of this residence, located in the center of Famagusta city, offers magnificent residential space with 3+1 options.
Famagusta, which is currently a favorite of tourists. As well as domestic and foreign investors. It is the most suitable region for investment in the world. According to a study conducted by the world-renowned Forbes magazine.
The residences are located in an ideal location. Here you can enjoy a beautiful beach just 1 kilometer away from home. At the same time, it will directly enrich your life as it is very close to Long Beach, the ancient city of Salamis, picnic spots, as well as unique restaurants with local delicacies and forest areas where you can take your delightful nature walks.
This project is situated on a plot of land with a total area of 7,000 m². It includes 36 apartments with an area of 115 m². All apartments have 3 spacious bedrooms. Plus, there is a living room leading to the kitchen.
Project features:
The project is already fully built. Move in and live!
So, 3+1 Apartments in Famagusta are waiting for you!
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 (117 365 $) 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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