Property loan in North Cyprus

Property loan in North Cyprus

Property loan in North Cyprus

One of the reasons for the popularity of buying property in North Cyprus, in addition to the high annual growth of real estate, is the low interest rates on mortgages in this country. Mortgages in North Cyprus have an easy process as well as reasonable interest rates.

Buying property in North Cyprus is in cash or non-cash with interest-free or very low-interest installments. Property purchased with a mortgage will be transferred to the buyer immediately after the contract is signed. The terms of the loan will be included in the contract and the purchased property will guarantee the security of the loan. During the loan repayment, the buyer owns it. This means that he is allowed to rent or sell the property.

According to the rental applications in all seasons of the year, the landlord can pay the loan installments by renting his property. Leasing a property to a landlord will also be profitable. Annual apartment rent can be between 8 and 10% of the total value of the property.

The interest rate on bank loans depending on the bank varies from 5 to 13%. This loan is up to 70% for Turkish people and up to 50% for non-Turkish people.

Some companies offer loans with 5-year interest-free installments or loans with longer payments and interest rates of 5 to 12%. The down payment for the property also varies from 10 to 50% depending on the construction company.

Bank loan conditions  in North Cyprus:

  • A valid passport.
  • Opening a foreign currency account in a bank.
  • Certificate of financial ability (Official translation of legal receipt, lease, official translation of a bank account Or blocking money in the bank as a loan guarantee. It should be noted that interest can be withdrawn)
  • Payment of installments on time (installments are usually between 6 and 36 months).
  • The applicant in addition to the mortgage period should not exceed 70 years.
  • Mortgages can be in various foreign currencies such as: pound, dollar, Swiss franc, euro, etc.
  • The repayment period of a foreign currency mortgage is up to 15 years.
  • The repayment period of the mortgage in Euro is a maximum of 25 years.
  • The maximum loan amount can be up to 70% of the value of the purchased property (depending on the customer’s credit rating).
  • Mortgage repayment is monthly or every 3 months.
  • The loan can be paid in amortization (principal and interest) or first (for example, 5 years) interest and then the principal amount to the bank.
  • Pay for stamps, insurance and so on

Cihanara is proud to guarantee the loans of its customers with the bank

“It should be noted that it is possible to change the interest rates of banks in the future.”


  1. .Good day. I am from Lithuania. I would like to buy an apartment in Northern Cyprus. What would be the options for obtaining a consumer loan?

    1. Good day.
      We will send you an email with all the information you need.

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