Apartments in Northern Cyprus

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Apartments in Alsancak 3
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Cheap apartments in Northern Cyprus 56
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By the sea 115
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Apartments from real estate agencies 54
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Apartments for sale in Northern Cyprus

An apartment in Northern Cyprus for investment and living is a highly liquid and profitable property. More and more foreign investors are choosing this region. The reason is simple: a comfortable climate and affordable prices. For overseas buyers, a property in the TRNC is an opportunity to find an option for permanent residence. No less favourable is to buy a flat in Cyprus for investment.

The Turkish Republic of Northern Cyprus is an autonomous state located on an island in the Mediterranean Sea. In 1974, it gained independence from colonial rule, which was taken over by different countries for many centuries. Now, the TRNC and Southern Cyprus are two different states. The border between the two runs through the capital, Nicosia.

Tourists and those who choose a house in Northern Cyprus for relocation can enter the republic through seaports or by air from Turkey. Entry can also be made via border crossings from the southern part of the island.

Five reasons to invest in apartments in Cyprus.

  • Comfortable climate conditions that attract tourists throughout the year. You can swim in the sea even in late autumn or early spring. Not all travellers prefer to stay in hotels, which makes apartments highly demanded.
  • Decent quality of residential complexes under construction. The tourist destination is rapidly gaining ground, so the new developments are designed to meet the needs of the most demanding buyers. They include energy-saving technologies, the possibility of maintaining comfortable temperatures with underfloor heating, and connection to the “smart home” system.
  • Stability of the economy, which ensures a high quality of life and demand for housing. If desired, the flat can always be resold for a profit, as prices are constantly rising.
  • High profitability ratio. The average profit from renting out an apartment is 3–4% per year. However, for residences under hotel management, it can reach 6–7%. The final figures depend on the particular flat.
  • Possibility of obtaining a residence permit. For this purpose, it is enough to buy an apartment worth more than EUR 300,000. Even if there are no plans to move, the theoretical and legalised possibility of doing so will not be superfluous.

The cost of apartments in Northern Cyprus

Prices for flats in North Cyprus are more attractive than in the southern part of the island. You can also compare the cost of local accommodation with similar properties in other European holiday destinations, such as Italy or Spain.

Prices vary depending on the location. Housing on the first line by the sea is more expensive. In addition, the price is influenced by the prestige level of the residential complex, the presence or absence of additional amenities, the quality of repairs, the area, and the number of bedrooms.

At the time of publication of this article, the following prices can be seen in the adverts:

  • In Famagust, a studio is available for EUR 48,000. A 1-bedroom flat in the same holiday town can be bought for EUR 75,000.
  • In Iskele, a one-bedroom apartment is sold for EUR 50,000. A 2-bedroom apartment can be purchased for EUR 75,000.
  • In Kyrenia A 1-bedroom flat is sold for EUR 67,000. A 3-bedroom residence can be bought for EUR 87,000.

The article shows the minimum values, the maximum prices can reach several million euros. It is important to take into account that the cost of real estate is steadily increasing, so it is advisable to check it directly when booking the selected object.

With a limited budget, it is possible to take out a loan to buy a property. For this, you will need to pay at least half of the property value as a down payment. The most profitable option is to purchase off-plan real estate with instalments from the developer. It allows you to avoid additional commission payments.

Help in buying a flat in Northern Cyprus

Explore available offers in real time. The website contains advertisements from developers and real estate agencies. The search system is equipped with filters, with the help of which you can find the suitable property by location, type, and number of rooms. The database of real estate in Northern Cyprus is regularly updated and contains only relevant information. For your convenience, prices are shown in different currencies. It is easy to buy an apartment in Northern Cyprus: you just need to find the right accommodation and contact the advert’s author. Explore the property market in Northern Cyprus and do not miss the most profitable offers!