Lapta - Alsancak - Karmi

Nestled between the wind-kissed rugged cliffs and the azure Mediterranean, the serene village of Kayalar, Northern Cyprus offers a taste of heritage wrapped in tranquillity. This quaint locale is replete with history, its historical sites bearing witness to the passage of time, from the Byzantine, Lusignan, and Venetian ages. Among such enriching offerings is the Church of Panagia Kanakaria, a symbol of Byzantine architecture. Strategically located on the west coast of Northern Cyprus, Kayalar is a picturesque gem offering luxury living coupled with a serene countryside.

Exclusive Property Market in Kayalar

The exclusive property market in Kayalar is currently stable, offering a variety of luxury homes designed for those who appreciate tranquil life paired with elegant design. The supply and demand of luxury homes in Kayalar are balanced, making it an opportune time for discerning investors.

Political and Economic Stability

Kayalar enjoys a rather stable political and economic environment, which significantly influences the real estate market to remain robust. The stability thus creates a welcoming atmosphere for both local and international home buyers.

Real Estate Commission and Additional Costs

When it comes to the average real estate commission, both the buyer and seller can expect to pay around 3 to 5% in Kayalar. The additional costs of purchasing a luxury home include transfer tax, notary fees, potential construction inspection or legal costs. The transfer tax stands at approximately 6 to 9 percent.

Property-based Taxes in Kayalar

In Kayalar, the wealth tax on private ownership of a house depends on the property band rates; it's advised to consult with local authorities or a real estate lawyer. Also, it is fundamental to understand that while there are no taxes on the profit made when selling a privately owned primary residence, profits made from selling a second/vacation home may be taxable.

Corporate and Income Tax Rates

The corporate tax on profits for registered companies stands at 20 percent, whereas the income tax for registered residents varies based on scale, ranging between 20% to 30%.

Mortgage Regulations

Mortgage lenders typically provide up to 70-75% of the purchase price, with the stipulation that the property buyer has a consistent income that can fully accommodate the repayments.

Elite Residential Areas and Accessibility

The most expensive and sought-after residential areas are concentrated along the pristine coastline offering captivative sea views. Kayalar is easily accessible by road and is well-served by an efficient transportation network. It is approximately 39km away from the nearest city, Nicosia.

Education, Environment, and Climate

The locale boasts a number of reputable educational institutions, including Nicosia University. Kayalar is surrounded by tranquil nature, unspoiled water ecologies, and a breathtaking landscape with an enviable Mediterranean climate.

Luxury Lifestyle Opportunities

The village is home to a selection of luxury lifestyle shops with local and international brands. Exquisite local cuisine can be savoured at high-quality restaurants, while evenings can be enjoyed in the stylish local bars, offering a taste of the vibrant nightlife scene.

Cultural Attractions and Events

Kayalar houses several galleries and local theatres, with various art exhibitions and cultural events taking place annually, such as the Olive Festival.

Healthcare and Public Infrastructure

Kayalar possesses commendable public infrastructure with hospitals and clinics providing excellent healthcare services. The quality of life is enhanced by readily available amenities, making Kayalar an ideal location for a luxury lifestyle.