Girne, North Cyprus, Cyprus

Apartments in Karşıyaka, Girne (ECN-00256)

TEKCE Real Estate
FromGBP375,000
Gross yield8%
Exp. 5-yr capital growth50%

About the property

Penthouses in Girne, North Cyprus, Cyprus

Apartments with Stylish Designs in a Comprehensive Complex in Karşıyaka
Karşıyaka is a region in the west of North Cyprus and is a 15-minute drive from the center of Girne. The region, located between mountains and the Mediterranean Sea, fascinates with its unique landscapes. Karşıyaka is a tourism center thanks to its mild climate and famous beaches. It is a place especially preferred by investors and holidaymakers.

Apartments for sale in North Cyprus Girne are 400 meters to the sea, 800 meters to the main road, 1.1 km to the beach, 1.3 km to Holiday Village Club Cinema, 1.5 km to Lapta coastal hiking path, 5 km to Suna’s Beach and Sunset Beach Club, 8 km to Necat British Collage, 9 km to Merit Royal Hotel & Casino, 11 km to Lefkoşa-Girne road, 13 km to Kervansaray Public Beach, 14 km to Girne American University, 17 km to the center of Girne, 54 km to Ercan Airport, and 95 km to Larnaca Airport.

The complex consists of a brand-registered restaurant and 21 blocks. It has studio, one-bedroom loft, two-bedroom, and three-bedroom apartment types. There is a 24/7 security and reception service in the complex. The two large swimming pools of the complex can serve all residents simultaneously. The SPA center includes an indoor pool, fitness center, massage rooms, sauna, and Turkish bath. There is a bicycle path, hiking path, and generator in the complex. Apartments are under a 5-year construction warranty provided by the construction company.

All apartments have heat and sound insulation and a modern kitchen with a granite countertop. Kitchens, designed with HAFALE brand products, include a cooker, oven, cooker hood, dishwasher, and refrigerator. Also, there is air conditioning in each room. The construction company’s customized and first-class double-glazed window system provides heat and sound insulation entirely. All rooms feature suspended ceilings with LED, spot, and strip lighting. Some bedrooms have an en-suite bathroom.

Features: Air Conditioning, Balcony, En-Suite Bathroom, Fitted Wardrobe, Kitchen Appliances, Open-Plan Kitchen, Shower, Smart-Home System, Satellite TV, White Goods, Car Park, Communal Garden, Communal Pool, Fitness, In A Complex, Playground, Sauna, Social Club, SPA, Turkish Bath, Airport (50-100 Km), Beach (500-1000 M), Sea (0-1 Km), Beautiful Nature View, Mountain View, Air Conditioning, Underfloor Heating, West, East, North, South
ECN-00256

Why buy

  • Entry from £375,000

    Off-plan pricing in Girne, North Cyprus, Cyprus, with 1 unit released.

  • 2-bed homes

    A choice of 2-bed penthouse layouts to suit both end-users and investors.

  • Close to the coast

    Positioned near the beach in North Cyprus, one of Cyprus's established coastal destinations.

  • Resort-style amenities

    On-site swimming pool, gym, garden, sauna within a managed development — strong appeal for holiday-let demand.

  • Growing overseas-buyer market

    Cyprus continues to draw international buyers for lifestyle and rental-yield potential; freehold purchase is open to foreign nationals.

The address

  • [45 minutes] by car
  • [1 hour 20 minutes] via Metehan border crossing
  • Historic marina and old harbour
  • Main Kyrenia coastal highway
  • Kyrenia Harbour waterfront restaurants
  • Kyrenia Castle and St Hilarion Castle
  • Kyrenia town centre
  • British international school (A-level and IB)
  • Private university
  • Private university

Nearby transport, places and schools are as recorded by the seller. Confirm distances and school admissions independently before advising.

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TEKCE Real Estate

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Data and calculations are updated regularly for informational purposes. For accurate data and personalized advice, consult an INTRIC specialist or conduct independent research. Professional financial and legal advice recommended.

Mortgage Calculator

Cyprus mortgage analysis for Apartments in Karşıyaka, Girne (ECN-00256)

Property Details

35.0% of property price — Cyprus banks typically require 30–40% from non-EU buyers

Loan Terms

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Loan Amount
£243,750.00

Foreign Ownership Rules

  • EU citizens: Unrestricted — same rights as Cypriot nationals. May own unlimited residential or commercial property in their own name.
  • Non-EU citizens: Must obtain Council of Ministers permit (Acquisition of Immovable Property by Aliens Law, Cap. 109). Permit is functionally a formality for residential acquisitions in approved developments; allow 3–6 months processing. The cap generally permits up to two properties under individual name (most commonly one residence plus one investment unit), though the exact form varies application-by-application; corporate vehicles are unrestricted.
  • Title deeds: Cyprus operates a Torrens-style registered-title system via the Department of Lands & Surveys. Separate title deeds (Τίτλος Ιδιοκτησίας) per unit are issued only after development completion and final approvals; off-plan buyers receive contractual rights pending title issuance.
  • Limassol Greens / branded developments: Master-planned projects such as Limassol Greens by Lanitis issue individual title deeds per villa/apartment on completion. Pre-completion buyers should require a current Land Registry search certificate confirming the developer's parcel is free of encumbrances and that the contract of sale has been lodged under the Specific Performance Law.

Residency & the Cyprus Permanent Residency

Cyprus Permanent Residence (Category F / Fast-Track) is the principal investor pathway. The Cyprus Investment Programme (passport-by-investment) was discontinued in November 2020 — only the PR remains.

  • Investment threshold: €300,000 (excluding VAT) into new residential property purchased directly from a developer (first sale) or other approved investment. Resale residential property does NOT qualify for the property route under current MIP rules. May be split: e.g. €300k in property + business/fund contributions.
  • Family eligibility: Includes spouse and minor children (under 18). Adult unmarried children up to age 25 in full-time study may also qualify with proof of dependence.
  • Income proof: Minimum stable annual income (post-2023 reforms): €50,000 main applicant + €15,000 spouse + €10,000 per dependent — must originate outside Cyprus.
  • Visit requirement: Holder must visit Cyprus at least once every 2 years. Tax residency is separate and requires 183-day (or 60-day non-dom) presence.
  • Naturalisation: Eligible after 8 years of legal residence in the last 11 (with 12 months continuous immediately before application) plus a Greek-language requirement — per the amendment published 19 Dec 2023, effective 22 Mar 2024. A fast-track 3–4 year route exists for highly skilled applicants who can also evidence Greek language proficiency.
  • Non-dom regime: 17-year exemption from SDC on worldwide dividends, interest, and rental income for individuals who become Cyprus tax-resident having not been domiciled there for the prior 17 of 20 years.

Buying Process & Timeline

  1. Reservation — €5,000–€20,000 holding fee, typically deducted from purchase price.
  2. Engage a Cypriot advocate (δικηγόρος) — Cyprus has no notary tradition; lawyers handle conveyancing. Verify lawyer is independent from developer (insist on this for branded-residence purchases).
  3. Due diligence — Search Land Registry for encumbrances, mortgages on the developer's parcel, planning permits. 2–4 weeks.
  4. Contract of Sale — Bilingual English/Greek. Lodge stamped contract at Land Registry within 6 months under Specific Performance Law N.81(I)/2011 to protect buyer's contractual interest.
  5. Council of Ministers permit (non-EU only) — 3–6 month formality.
  6. Payment — Staged for off-plan (reservation, contract, completion of stages). FATCA / CRS source-of-funds declarations required by Cypriot banks under AML framework.
  7. Completion & title deed transfer — Title deeds issued by DLS post-completion; buyer attends in person or via Power of Attorney.
  8. Typical timeline: 3–6 months ready property; 12–36 months off-plan with staged construction payments.

Lifestyle & Practical Factors

  • Climate: Mediterranean — 300+ sunny days annually. Coastal summers 28–33°C with sea breeze; mild winters 12–18°C in coastal districts. Troodos mountain ski season Dec–Feb (~1,950m peak).
  • Languages: Greek and Turkish are official; English is universally used in business, education, and professional services — a legacy of the British colonial era to 1960.
  • Healthcare: GeSY (General Healthcare System) introduced 2019 covers all residents; private hospitals (American Medical Centre, Mediterranean Hospital) are widely used by the expat community.
  • Education: English School Nicosia, The Heritage Private School (Limassol), International School of Paphos, American Academy Larnaca serve expat families. Cyprus has 8 universities (Public + Private) with English-medium programmes.
  • Connectivity: Larnaca (LCA) and Paphos (PFO) international airports. Daily direct to London, Tel Aviv, Athens, Dubai; strong East-Med hub status. Cyprus is a full EU member but not yet a Schengen state — accession is targeted for 2026, pending EU Council unanimity.
  • Banking & capital flows: Full EU SEPA participation; no capital controls (the 2013 controls were lifted in 2015). Hellenic Bank, Bank of Cyprus, Eurobank Cyprus are the principal players.
  • Safety & political stability: Among the safest EU member states (low violent-crime rate). The Republic of Cyprus controls the southern two-thirds of the island; properties in the de facto "Turkish Republic of Northern Cyprus" should be approached with extreme legal caution — Republic of Cyprus does not recognise such titles.