Geçitkale - Iskele

Enjoy the Sophistication of Today in the Rhythm of Yesterday

Starting from £58,000

Harmonious Blend of Modern Luxury & Historical Charm

Delve into the serene world of Olea Residence – an architectural marvel set in the quaint town of Geçitkale, Famagusta. With a completion date set for 30/08/2025, Olea Residence seamlessly weaves modern amenities with a rich cultural backdrop.

1 to 3 Bedrooms
Apartments & Penthouses
Completing in August 2025
652 Units
Street View
Mountain & Landscape View
1km to Amenities
Shuttle Service to the Beach

Sustainable Living Amidst Ancient Heritage

Enveloped by stunning landscapes, Geçitkale is a treasure trove of history dating back to the Bronze Age. With its traditional olive oil factories, halloumi family production businesses, and proximity to Salamis Ruins and Saint Barnabas Museum, this town is a living testament to Cyprus’s vibrant past. Being part of Cittaslow, Geçitkale personifies sustainable living and architecture, creating a soothing aura of a calm city.

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Your investment is secure

Secure Investment
Regulatory Compliance
100% Customer Satisfaction
Flexible Payment Plan

Perfectly Placed for Convenience & Connectivity

Olea Residence is a strategic blend of tranquility and connectivity. A quick 10-minute drive gets you to Iskele Long Beach and Famagusta, while Ercan Airport and Nicosia are only 20 and 30 minutes away, respectively. Your international travels are a breeze, with Larnaca Airport a mere 45-minute drive away.

Project Location

Geçitkale: An Idyllic Journey into Iskele's Historical Heartbeat

Nestled in the Iskele district of Northern Cyprus, Geçitkale is a hidden gem with a rich history dating back to the Bronze Age. This charming village is surrounded by stunning natural beauty, where rocky cliffs stand guard over rolling hills, adorned with olive groves and citrus orchards. It’s a place where traditional halloumi cheese is still made by family businesses, and where the air is fragrant with the aroma from the local olive oil factories. Geçitkale is a vibrant, open-air museum that transports you back in time, inviting you to explore the famous Salamis Ruins, Saint Barnabas Museum, and numerous other historical sites nearby. As a proud member of Cittaslow, Geçitkale exemplifies the calm city concept, cherishing slow living and sustainability in its architecture and daily life. It is an enticing blend of serenity and vibrancy, a true retreat for those seeking an immersive cultural experience in the lap of nature.

Experience Leisure & Luxury

From expansive green areas and walking paths to a café/bar and fully-equipped gym, Olea Residence is replete with amenities that cater to every aspect of your lifestyle. Enjoy leisurely dips in our indoor and outdoor pools, engage in sports at the multipurpose court, or pamper yourself at the beauty salon. We’ve got your essentials covered too, with a supermarket, pharmacy, and bank right within the premises.

Payment Plan

At Olea Residence, we offer a straightforward payment plan. Pay an initial 30% prepayment, followed by 40% spread until the delivery date, and the final 30% in the 12 months following the delivery. We require a minimum deposit of 1,000 Stg, held for 15 days, with the prepayment to be completed at the end of this deposit period.

Units & Price List

Olea Residence is an idyllic place for all investors seeking a harmonious blend of modernity and nature. Choose from our range of high-quality 1+1, 2+1, 3+1 flats, and 2+1, 3+1 penthouses, each designed with top-tier finishes and modern appliances. Experience small-town living with the local community, local shops, and restaurants, while enjoying easy access to essential services and a daily shuttle to the beach.

The starting price for each of these property types are:

Unit TypeStarting Price
1+1 Apartments£58,000
2+1 Penthouses£156,000
CommercialTBA

Frequently Asked Questions

Initially the buyer reserves his chosen property by signing a Reservation Agreement and paying a reservation fee, in order to remove the property from the market. Then the buyer signs a Sales Agreement noting all particulars of the property transaction, and the contract can be registered by the Lands Registry Office to secure ownership for the buyer. Stage payments then follow as per the Sales Agreement until the delivery date of the property.

Our property payment terms apply to all our developments and depend on the work executed and value provided. The payment terms are shown below as a percentage of the purchase price:

  • Reservation Agreement signature: 5%
  • Sales Agreement signature: 25%
  • Foundation completion: 10%
  • Skeleton completion: 10%
  • Brickwork completion: 10%
  • Plastering completion: 15%
  • Tiling completion: 15%
  • Delivery and handover: 10%

Payments can be made via bank account transfer or Cyprus banker’s draft. Cash, Cyprus cheques and visa payments can also be accepted but only for the purposes of paying the reservation fee.

All our properties can be customized internally according to the requirements, tastes and preferences of our clients, always depending on the stage of construction.

VAT is an acronym for Value Added Tax, known in some countries as goods and services tax (GST), and is payable to the Tax Department of Cyprus. It is levied on the price of the property, and is payable upon the payment of each instalment at the percentage applicable at the time of payment. Currently, VAT on properties in Cyprus is 19%. However, a first time buyer in Cyprus can apply for the reduced rate of 5% on purchasing a property as long as the dwelling is used as the principal and permanent residence of the applicant.

Olea Residence: Serene Living, Enriched by History, Surrounded by Nature

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