Flat in Northern Cyprus. City - Famagusta
ID SA-223
Address: Orhan Dervish Street, City Mall District
Total area: 77 m²
Bedrooms: 2
Bathrooms: 1
Year built: 2019
Property type: 2+1 Two Bedroom Apartment, Apartment
Property status: For Sale
Features
Description
Apartment near a shopping center in Famagusta, North Cyprus.
The apartments are located not far from the City Mall shopping complex. Besides, they are in the center of Famagusta. However, it's worth noting that the house is situated in a calm location.
Location:
Furthermore, there is an activity center nearby. As a result, you can enjoy life in Famagusta to the fullest!
Under the house is a parking lot, there is surveillance on the territory, a videophone in each apartment. Moreover, on the roof, there are solar panels for heating water. Certainly, in each apartment, there is a videophone, an electric water heater. Additionally, a ready-made kitchen - glossy facade cabinets, built-in wardrobes in the bedrooms. Furthermore, a large terrace with glass partitions and panoramic views.
Apartment features:
Moreover, the apartments are perfect for permanent residence or rental.
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 (91 146 $) 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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