Buying off plan allows buyers to take advantage of installment schedules typically over the course of 12 – 24 months, according to the construction time period.


Example 1: This is a typical payment schedule.

• 1000 – 2000 (non refundable) is payable immediately to reserve your property
  
• 20-25 % is payable within 14 days of contract signing (minus reservation deposit)
  
• 20-25 % is payable upon completion and inspection of concrete
  
• 20-25 % is payable upon completion and inspection of brick work, roofing, plastering and floor tiling
  
• 20-25 % is payable upon completion and inspection windows, kitchen, bathrooms and wall tiling
  
• 10-20% Upon completion of all works and in return for delivery of Property to Purchasers
  

Example 2: Often times you will find the below payment schedule for investors or buying apartments off plan.

• 35% deposit
  
• 35% skeleton phase
  
• 30% upon completion
  

Options

Payment schedules vary for each developer, but are typically somewhat flexible depending on down payment amount, so it is important to discuss with your estate agent who is representing you what your individual needs are with respect to the payment schedule.


Payment Methods

Reservation and deposits paid in N. Cyprus are paid via cash or credit card (TRNC does not accept American Express credit cards).

Reservation or deposits paid from abroad are paid via wire transfer to the solicitor or Estate Agent and is not released to Developer until Contract of Sale is drawn.

Further stage payments are made through simple wire transfers.