Apartments in Famagusta
Apartments in Famagusta for investment and living are in great demand today. Northern Cyprus is a great place to buy property thanks to its mild Mediterranean climate, beautiful scenery, variety of cultural attractions and low cost of living. The following areas are of particular interest when purchasing real estate in Famagusta District:
- Paralimni
- Protaras
- Ayia Napa
Paralimni is a town with many retail outlets, boutiques, coffee shops, bars and supermarkets nearby. This is a beautiful and peaceful location, making it ideal to raise a family.
Protaras is one of the most beautiful areas in Famagusta, home to ancient churches, sea caves, windmills and other attractions. It has a large community of British and Scandinavian expats. The town caters to families, couples, and single people.
Ayia Napa is the centre of resort life with many nightclubs, bars and restaurants. The town is a vibrant corner of Cyprus with excellent beach holiday opportunities.
There are different types of flats in Famagusta, ranging from compact studios to spacious luxury penthouses. What’s more, property in Northern Cyprus is markedly cheaper compared to the southern part of the island (on average, by 30–50%) and, of course, to other Mediterranean countries. The place is popular among tourists and migrants who mainly prefer long-term rentals. This makes apartments in Northern Cyprus an excellent investment.
Apartments for sale in Famagusta come in different sizes:
- 1+0 units or studios are suitable for single people and couples.
- 1+1 units are popular in the country and provide plenty of space for small families. They are also an excellent option for solo living.
- 2+1 units are ideal for couples and small families as they provide additional storage space.
- 3+1 units are good for those who need even more space to live and store things.
- 4+1 units cater to large families or those who want to receive significant rental income.
What documents are required when buying a home in Northern Cyprus? The exact list may be different in each specific situation, but generally looks like this:
- a passport;
- proof of the source of funds used to purchase real estate;
- a signed written contract between the parties;
- additional documents such as a power of attorney or NIE number (if required).
Proof of payment of taxes, registration fees, and other related expenses may also be required. It is important to note that you may need the assistance of a lawyer or attorney to complete and sign certain documents.
Cost of apartments in Famagusta
Apartment prices in Famagusta, Northern Cyprus depend on the location, residential complex, amenities, unit size and quality of finishes. The starting cost is approximately EUR 60,000. Below are a few examples.
A 2-bedroom apartment in Paralimni is available for EUR 99,000. The living room is connected to the kitchen, which leads to a large and cosy veranda with beautiful views of the surrounding area. The 62-square-metre property is located in a gated residential complex with a swimming pool and comfortable sunbathing areas.
You can buy a 53-square-metre unit on the secondary real estate market for only EUR 65,000. This 1-bedroom apartment in Kapparis is a modest, yet decent and comfortable option and is sold unfurnished. The property is conveniently located in a residential complex with a swimming pool next to various infrastructure facilities. The distance to the beach is only 600 metres.
You can also find premium flats for sale in Famagusta. A 95-square-metre 2-bedroom apartment in Kapparis costs EUR 210,000. It is in a high-end residential complex almost within walking distance from the sea. There is a communal outdoor space, which includes recreation areas, sun loungers, a spacious swimming pool and a garden. The apartment is furnished, equipped with household appliances and is move-in ready.
An 85-square-metre 2-bedroom penthouse is offered for EUR 270,000. It is within walking distance of restaurants and just 200 metres from the nearest beach of Agia Triada. There are 3 swimming pools within the development, and each apartment has its own parking space. The property is for sale off-plan. If you are interested in high-yielding investment apartments in Famagusta, then this is a great option. The price of the unit will increase immediately after the complex is commissioned.
Foreigners can purchase property in Northern Cyprus with a mortgage. Also, instalment plans with an individual payment schedule are almost always available. Instalment plans allow buyers to pay off property over a specified period, usually 2–5 years, by making monthly payments. One of the options is to split the full cost into several equal payments. The buyer pays a certain amount as a down payment (usually 15%), and the remaining cost is divided into equal instalments over a set period.
It is worth mentioning the growing appeal of Northern Cyprus to foreigners. Property sales to overseas buyers have reached their highest level since 2007. In 2023, sales to foreigners account for 46% of the total volume of properties sold. This demonstrates the significant dependence of the market on overseas buyers and highlights the continued interest and participation of international investors in the Cyprus real estate sector.
Buy apartment in Famagusta
If you are interested in buying an apartment in Famagusta, you can select options that match your needs using our aggregator website. On the portal, prices are indicated in dollars and euros, and there are convenient filters to sort by cost, living space size, location and other parameters. Find your ideal flat in Northern Cyprus now!