FAQ Guide
Get answers on Eden Projects: Real estate investment, infrastructure, and project details in Northern Cyprus.
Who is Eden Projects?
Eden Projects is a brand established by three major business development firms with years of experience in real estate development in Turkey. Under this brand, it aims to build over 14,000 housing units in Northern Cyprus within five years on more than 260,000 m² of land owned by the company itself in six different locations. The group’s companies are Geçitkale A.Ş in Turkey and Passcastel Ltd. Şti in Cyprus, under the brand name Eden Projects.
Are there any infrastructure problems in Cyprus?
In Cyprus, there can occasionally be short-term power outages in certain areas. The water supply issue has been resolved thanks to the pipeline coming from Mersin. In fact, the sale of water to Southern Cyprus has even been proposed, but it was declined by the South. As for electricity, efforts are ongoing to bring a power line from Turkey, and there are currently no significant electricity problems. Additional Information: This ensures that the project is carried out in harmony with local administrations and to high standards. All necessary work to meet the infrastructure needs of the project is being done in collaboration with the TRNC government and the local municipality. The development of Geçitkale has become a state policy. Significant interest and support have been shown by the Presidency, Prime Ministry, and Ministry of Interior for all the projects planned in this area. In this context, the Geçitkale Municipality has already started work to expand the road passing in front of our project area.
Why should I invest in this project?
Eden Projects offers numerous advantages to investors who purchase real estate. With the Eden Card, specially prepared for our investors, you can access the social areas of all Eden Projects in Cyprus and enjoy exclusive benefits at Eden beaches. The Eden Card serves as a guarantee system, designed to meet the service needs of our residents, especially those coming from outside the island. This includes convenient access to essential items such as furniture and appliances, as well as support for legal and medical assistance when needed. Eden Projects is also a management brand. We aim to offer various services after the sale, including rental management (this does not constitute a rental guarantee), cleaning services after short-term stays, shuttle services to beaches, and more. Additionally, our site is self-sufficient, with both commercial and social areas, as detailed in the project. Additional Information: Eden Projects not only provides modern and high-quality living spaces but also offers high return potential and easy payment options for its investors. These projects provide both high rental income and value appreciation in the future. It should also be noted that Northern Cyprus is an island state with limited land availability. As agricultural, commercial, and industrial areas expand, residential areas shrink. In such a highly sought-after region, the value of existing residential properties is bound to increase rapidly.
Construction projects in Cyprus never seem to finish. Why?
Claiming that most construction projects in Cyprus are not completed and generalizing this situation would be unfair. Isolated incidents occur everywhere in the world, including in Turkey, and should not be portrayed as a common problem in Cyprus. Unfortunately, this misconception is often spread by certain competitors in Turkey who view Cyprus as a rival market. The percentage of problematic constructions in Cyprus is significantly lower than in Turkey. Moreover, Eden Projects are funded by well-established and reputable Turkish development firms. These companies have the financial resources needed to ensure that projects are completed on time and without issues. The developers, Passcastle Ltd. Şti, Fenercioğlu, and Serveroğlu Engineering & Construction, are credible and financially strong groups with investments in various countries. These groups have also received approval from the Turkish Financial Authority to form and successfully operate real estate investment funds. Informative documents about our developers are available publicly in our Drive folder.
What are the start and completion dates for the construction?
Construction is scheduled to start in December 2024.
The determined blocks will be delivered as follows:
- Blocks A and B: December 2026
- Block C: December 2027
- Block D: December 2029
What is the crime rate in Cyprus?
Cyprus is a country with a very low crime rate. It ranks 5th among the countries with the lowest crime rates globally.
How will I get the title deed?
The title deed process in Cyprus is highly regulated and secure. For off-plan constructions, the contract signed with the company is registered on the title deed, ensuring ownership rights are guaranteed from the contract stage.
I don’t have time, nor do I know anyone in Northern Cyprus. How will I handle the required processes?
Under the new regulations, foreigners like us in the TRNC cannot complete the property acquisition process entirely through a power of attorney. However, our customers can benefit from the advantageous fees offered by our company’s lawyers for property acquisition, residence permits, and similar processes in Northern Cyprus.
What are the tax, fees, and payment processes under the new law?
It should be known that TRNC is one of the most demanded countries for investment due to its advantageous tax rates. Taxes arising from the sales transaction are as follows:
- Stamp tax: 0.5% of the sales price is paid when the title deed is registered.
- According to the new law, Turkish citizens can purchase up to three apartments. Title deed fees for TRNC-recognized nationals are:
- 6% for the first apartment
- 9% for the second apartment
- 12% for the third apartment
Half of these fees are paid when the title deed is registered, and the rest is paid when the title deed is issued.
- VAT: 5% is paid when the title deed is issued.
- Transformer fee: Depending on the project’s size, this is approximately £1,500–£2,000 per apartment.
There are different types of title deeds in Northern Cyprus. Are they safe? What type of deed does the project land have?
There are three types of title deeds (referred to as ‘koçan’) in the TRNC:
- Turkish Title Deed: Owned by Turkish Cypriots before 1974 and recognized internationally.
- Equivalent Title Deed: Granted to Turkish Cypriots who left properties in the South after 1974. While not recognized internationally, these are legally recognized by the TRNC.
- Allocated Title Deed: Granted after 1974 to citizens from Turkey or Turkish Cypriots. These deeds are also legally recognized by the TRNC.
