Property in Famagusta

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Property in Famagusta

Property in Famagusta, Cyprus, for investments and living is highly sought after by international buyers. Situated along Cyprus's eastern shoreline, the city offers robust infrastructure and notable tourist attractions. Many purchase real estate in Famagusta with the intent of relocating permanently, renting out, or profiting from future resale. This is a lucrative strategy as the cost of housing in this resort city is on the rise: for instance, in the third quarter of 2023, it increased by 8% compared to the same period the previous year.

The Famagusta property market offers apartments, villas, and townhouses, both from resale and new developments. Many homes are situated on the seafront. Contemporary residential developments offer a wide range of amenities, such as eateries, bars, spa facilities, gyms, indoor and outdoor swimming areas, and lounging spaces.

For foreigners, buying property in Famagusta is attractive for several key reasons:

  • proximity to the sea and beaches;
  • mild Mediterranean climate;
  • high construction quality;
  • affordable prices compared to other European countries;
  • the opportunity to obtain residency without a minimum investment requirement, provided the property is at least 17 m² in size.

For primary property purchases, developers offer convenient interest-free instalment plans spanning several years.

This city boasts over 40 beaches suitable for family holidays and water sports. Many have been awarded the "Blue Flag" – a mark of environmental cleanliness and excellent amenities. The most popular ones include Fig Tree Bay, Green Bay, Palm Beach, and Long Beach, with a total coastline stretching 15 km.

Famagusta, recognized as an educational epicentre and student-centric city, houses the Eastern Mediterranean University (Doğu Akdeniz Üniversitesi). With 18,000 students enrolled, there's a consistent need for rental accommodations.

Property cost in Famagusta

Property prices in Famagusta, Northern Cyprus, are influenced by several factors:

  • property location;
  • proximity to the sea;
  • size;
  • interior fittings and furnishings;
  • nearby infrastructure.

Properties in Famagusta are usually fully furnished, equipped with appliances, and high-speed internet. Here are a few examples to give you a better understanding of the prices.

For €90,000 in the resale market, you can buy a 140 m² house with 3 bedrooms in the Vadili village. The house is fully furnished and equipped with appliances, boasting a private 500 m² garden.

For those considering affordable apartments in Northern Cyprus, €56,500 can get you a 2-bedroom apartment spanning 40 m². Located right in the city centre, it's just over 800 metres to the sandy beach and a mere 200 metres to the bustling central street with shops and restaurants.

A modern 4-bedroom house, sized at 115 m² and priced at €452,500, is situated on the seafront. It's an ideal investment property in Famagusta. This under-construction villa in Northern Cyprus will be delivered fully furnished and equipped. The garden features an exclusive landscape design, and amenities include adult and children's swimming pools, a gym, parking, and more. There's even a private sandy beach. Located in one of Famagusta's most prestigious areas, Long Beach, restaurants, bars, and shops are all within walking distance. The Boaz harbour is just a 2-minute drive away, and the ancient city of Salamis is 15 minutes away.

Buy property in Famagusta

On our real estate aggregator website, you'll find vetted and up-to-date listings of real estate for sale in Famagusta from reliable developers and agencies. With user-friendly filters, you can sort properties by price, size, type, and other parameters. For your convenience, prices are displayed in dollars and euros. Start your search for the perfect property in Northern Cyprus today!