Buying a House in Cyprus in Installments

Homes for sale on installment in Cyprus: The Turkish Republic of Northern Cyprus offers unmissable opportunities for real estate and property investors. These homes stand out for their rental income in foreign currency, short amortization periods, and quick rental rates. At the same time, their affordability makes them highly attractive to investors of all budgets. Additionally, it is possible to purchase a home on installment in Cyprus to benefit from more favorable payment terms. So, what steps should be taken to buy a home on installment in the TRNC?

Down Payment for Installment-Based Home Purchases in Cyprus

If you wish to purchase a home on installments in Northern Cyprus, you will be required to make a down payment regardless of your payment terms. This down payment is a requirement for bank loans and obtaining permission to purchase real estate, particularly for foreign investors. Down payment rates across the island range from 30% to 50%.

Mortgage Loans for Installment-Based Home Purchases in Cyprus

After making the down payment, it is possible to purchase a home in Cyprus through an installment plan by obtaining a mortgage. With repayment terms of up to 120 months, mortgages offer the opportunity to become a homeowner under very favorable payment terms. Reliable companies assist their customers with bank loans after the down payment is made and guide customers who wish to purchase a home on installments in Cyprus. In Northern Cyprus, mortgage loans vary depending on the type of title deed but can be granted up to 75% of the property’s value.

In the TRNC, real estate and properties are priced in British Pounds. However, by using a mortgage, it is possible to become a homeowner in Cyprus by making payments in Turkish Lira.

Who Can Use a Mortgage

Anyone who meets the eligibility criteria set by banks in the Turkish Republic of Northern Cyprus can obtain a mortgage. There are some differences in the requirements for obtaining a mortgage between Cypriot citizens and citizens of other countries. Nevertheless, thanks to the favorable mortgage terms offered by banks, almost everyone has the opportunity to become a homeowner in Cyprus through installment payments.

For more information on mortgage loans, visit the "What You Need to Know About Cyprus Mortgage Loans" page.

Contact Us

If you’d like to learn more about what you need to do to buy a home on installments in Northern Cyprus, you can reach out to us by using the contact button on this page.