Flat in Northern Cyprus. City - Famagusta
ID SA-320
Address: Ersoy Birki Square, Tuzla
City: Famagusta
Total area: 128 m²
Bedrooms: 3
Bathrooms: 2
Year built: 30-07-2021
Property type: 3+1 Three-Bedroom Apartment, Apartment
Property status: New Listings, For Sale
Features
Description
This complex is located literally at the entrance to the Tuzla area. Of course, not far from the city of Famagusta. Moreover, it is within walking distance of the sea. As a result, thanks to the convenient location, you can reach all the necessary infrastructure in minutes. For example, shops, hospital, markets, and Eastern Mediterranean University are located near the house.
So, the two-story complex-villa has only 4 apartments, with a terrace and garden to choose from.
On the lower floors, the apartment is 128 m2 with a garden of 75 m2. And on the upper floors, the apartment is 130 m2 with a terrace of 45 m2 with barbecue.
Apartment features:
Complex features:
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 (164 961 $) 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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