Ozankoy - Bellapais - Edremit

Nestled on the northern coast of Cyprus, Kyrenia captivates with its rich history dating back to the 10th century BC. Its cobblestone streets are echoed by grand, historically significant structures like the Kyrenia Castle, St. Hilarion Castle, and Bellapais Monastery. Geographically, Kyrenia is located at the foothills of the majestic Kyrenia Mountain range, presenting a picturesque view of the sparkling Mediterranean Sea from the cliff tops. This city is an enthralling mix of ancient tales and modern pursuits, making it an ideal location for an upscale real estate market.

The Exclusive Property Market in Kyrenia

The exclusive property market in Kyrenia is currently in a strong and stable position, owing to its geographical location and the attractive luxury lifestyle that it offers. The high-end real estate landscape in Kyrenia boasts an impressive supply catering to the significant demand for luxury homes and apartments.

Economic and Political Status

Kyrenia enjoys a politically calm atmosphere and a steady economic situation, adding to the investors' confidence and making the city more attractive for luxury real estate purchases.

A Look at Costs and Taxes When Buying a Luxury Property

When buying a home in Kyrenia, it's important to consider additional costs, such as transfer tax, realtor commissions, notary fees, and potential inspection or legal costs. The average real estate commission ranges from 3 to 5%, being borne by both buyer and seller. The transfer tax on private property is around 3 to 6%, while the wealth tax on property ownership stands at around 1%. However, investors should consult with their real estate advisors to understand the specific cost structures.

Mortgage and Financing in Kyrenia

Mortgage requirements in Kyrenia generally hover around a 20-40% down payment of the purchase price, with the balance mortgaged. Income documentation is also required to secure a mortgage.

Top Residential Areas in Kyrenia

Some of the most sought-after residential areas for luxury homes in Kyrenia include Bellapais, Esentepe, and Catalkoy. These areas are well-known for their breath-taking views, luxurious properties, and upscale lifestyle.

Accessibility and Vicinity of Kyrenia

Kyrenia is well connected by a network of roads and highways. The nearest big city is Nicosia, which lies approximately 22 kilometers to the south. The city is around 44 kilometers away from the Ercan International Airport.

Education and Medical Facilities

Prominent educational institutions in Kyrenia include the Eastern Mediterranean University and the Girne American University. Top-notch hospitals and clinics like the Kyrenia University Hospital serve the city's healthcare needs.

Luxury Lifestyle and Entertainment in Kyrenia

Kyrenia is known for its seafront promenade dotted with luxury shops and high-quality restaurants. Famous hotels include the Lord's Palace Hotel and the Savoy Ottoman Palace. In terms of entertainment, the city houses a number of stylish nightclubs and casinos. The city hosts several annual events, such as the Kyrenia Festival, that add to its cultural richness.

State of Public Infrastructure

The city's public infrastructure is well-developed, providing residents with all necessary amenities including high-quality educational institutions, modern healthcare services, well-maintained roads, and a robust public transport system. For nature enthusiasts, Kyrenia offers various outdoor activities like hiking and sailing on its beautiful azure waters. In conclusion, Kyrenia is a perfect blend of cultural richness, architectural grandeur and luxurious lifestyle, making it an ideal location for luxury real estate investments.