The real estate market in Northern Cyprus is supported by foreign buyers, although sales in Famagusta have fallen, demand from investors from abroad is still strong, and prices are steadily rising. Nicosia is in high demand.
According to official sales statistics published by the Department of Lands and Geodesy, the total number of real estate sales contracts throughout Cyprus in March 2024 reached 1,257, which is 7% less than 1,352 deposited in March 2023. They decreased by 15% in Famagusta (one of the most investment-attractive places in the Turkish Republic of Northern Cyprus), while sales in another city — Nicosia — increased by 38% compared to March 2023, and by 42% last year.
Moreover, many buyers come from abroad. To obtain a residence permit in Northern Cyprus, there are no restrictions on the minimum cost of housing, unlike in Turkey.
Recently, we talked about the five best places to stay in the TRNC.