North Cyprus has emerged as an up-and-coming real estate investment destination, offering overseas property buyers tremendous upside potential coupled with affordable purchase costs and favorable living expenses. Its natural beauty, vibrant tourism sector and proximity to Turkey, the Middle East and Europe establish strong fundamentals for continued growth.
Step into a world where luxury meets convenience in the heart of Guzelyurt, crafted meticulously by the esteemed Lema Group. Slated for completion in 2026, this exclusive complex redefines sophisticated living with its collection of 620 units spread across four elegantly designed…
Discover the epitome of luxury living at the “Venice” apartment complex, a prestigious project by the renowned Dem’s Construction, set in the heart of the picturesque Iskele region. With a visionary completion date set for 2029, Venice is poised to redefine modern…
Introducing “Caesar Resort,” a groundbreaking development by the esteemed Afik Group, set to redefine luxury living in the vibrant region of Iskele. Slated for completion in 2025, Caesar Resort is envisioned as a sanctuary of elegance and comfort, offering an unparalleled lifestyle…
Introducing “Aphrodite Park 4,” a distinguished development by Evergreen, nestled in the heart of Nicosia. This completed complex stands as a testament to modern living, offering an unrivaled residential experience in one of the most sought-after areas of the city. Aphrodite Park…
Welcome to The Breeze Long Beach, a stunning development by the renowned Uzun Group, nestled in the picturesque region of Iskele. Completed in 2022, this exceptional complex offers a perfect blend of luxury, comfort, and tranquility. Developed by Uzun Group, known for…
Welcome to Uzun 28, a distinguished residential masterpiece developed by the renowned Uzun Group, situated in the historic and captivating region of Famagusta. This exceptional complex, now completed, offers a perfect fusion of luxury, comfort, and modern living, set against the backdrop…
Welcome to Uzun 30, a sophisticated development by the acclaimed Uzun Group, located in the vibrant heart of Nicosia. This elegant complex, which has been completed, offers a refined living experience, blending contemporary design with the convenience and dynamic pace of city…
Welcome to Melis, a premier residential complex brought to life by the distinguished Nurel, located in the serene and picturesque region of Alsancak. This exquisite development, now completed, offers an unparalleled living experience, blending modern luxury with the tranquil charm of its…
Welcome to Edelweiss, a haven of tranquility and modern living brought to you by the esteemed developer SarYap Group. Nestled in the heart of Iskele, this exceptional complex offers a lifestyle that combines comfort, sophistication, and natural beauty. Key Features and Lifestyle…
Discover a realm of serenity and rejuvenation at Aphrodite Wellness, an exquisite sanctuary set along the enchanting coast of Morphou Bay. Crafted by the esteemed developer Evergreen, Aphrodite Wellness transcends the ordinary, emerging as one of the Mediterranean’s largest and most advanced…
Discover the enchanting allure of Kasgar Residence, a prestigious development by Omag, offering a harmonious blend of luxury, tranquility, and captivating vistas. Nestled in the scenic region of Girne, this exquisite complex stands as a testament to Omag’s commitment to crafting exceptional…
Introducing Bellagio Residence, an innovative development by Noyanlar Construction, set in the vibrant region of Iskele. Slated for completion in 2025, Bellagio Residence is designed to offer an unparalleled blend of urban sophistication and resort-style living, encapsulating a luxury holiday experience available…
Nestled in the lush landscapes of Alsancak, Mountain Hill 2 emerges as a prestigious project by Atoll Development, promising an oasis of tranquility and luxury. Slated for completion soon, this complex is designed to harmonize with the natural beauty of its surroundings,…
Step into a world where comfort meets elegance at Aloha Life, an exquisite complex where every detail is crafted for a premium living experience. Slated for completion in the third quarter of 2024, Aloha Life is designed to cater to those who…
Immerse yourself in the epitome of modern living at Aloha Life, where luxury meets tranquility. Set for completion in the third quarter of 2026, this exclusive complex offers a haven of comfort and style in the heart of a vibrant community. Presenting…
Welcome to Aloha Life, an exquisite complex that encapsulates the essence of luxury living, set to be completed in 2025. This unique development is designed to offer an unparalleled living experience, blending modern amenities with serene landscapes, ensuring every moment at home…
Nestled in the heart of Lapta, a gem on the northern coast known for its vibrant tourist scene and breathtaking Mediterranean vistas, Dindi Construction is proud to present its latest residential marvel. Set to complete in 2024, this exclusive complex is a…
Experience the epitome of modern living in Famagusta with YüKSEL DEMIR’s latest development, a meticulously designed project that stands as a beacon of contemporary architecture and comfort. With completion slated for 2023, this exclusive offering comprises only 24 apartments across 3 elegantly…
Nestled in the tranquil region of Guzelyurt, Gaziveren, Aphrodite by Evergreen offers an idyllic coastal living experience. This beautifully completed complex captures the essence of a peaceful seaside lifestyle with its meticulously designed 1+1 apartments. Positioned on the 7th floor, this 57…
Introducing a captivating new development by Fenercioglu, set to grace the stunning west coast of North Cyprus. With its completion anticipated in 2025, this affordable apartment complex offers a unique blend of comfort, style, and breathtaking natural beauty. Located in the serene…
Introducing a visionary project by Dem’s Construction, set to redefine urban living in Famagusta. Slated for completion in 2024, this five-storey residential building is a marvel of modern architecture, housing a total of 25 meticulously designed 2+1 apartments, starting from 67 sq.m.,…
Nestled in the tranquil region of Guzelyurt, the Aphrodite complex by Evergreen is a completed sanctuary that promises a lifestyle as enchanting as its namesake. This fourth-floor, 1+1 apartment offers a serene escape with breathtaking views directly over the sea, designed for…
We are thrilled to introduce a unique living experience in the heart of Iskele, brought to you by the esteemed Noyanlar Construction. Presenting an elegant and sophisticated apartment in the renowned “Long Beach Park Residence”, this property is not just a home…
We are thrilled to introduce a unique living experience in the heart of Iskele, brought to you by the esteemed Noyanlar Construction. Presenting an elegant and sophisticated apartment in the renowned “Long Beach Park Residence”, this property is not just a home…
Nestled in the tranquil region of Guzelyurt, the Aphrodite complex by Evergreen is a completed sanctuary that promises a lifestyle as enchanting as its namesake. This fourth-floor, 1+1 apartment offers a serene escape with breathtaking views directly over the sea, designed for…
Introducing a visionary project by Dem’s Construction, set to redefine urban living in Famagusta. Slated for completion in 2024, this five-storey residential building is a marvel of modern architecture, housing a total of 25 meticulously designed 2+1 apartments, starting from 67 sq.m.,…
Introducing a captivating new development by Fenercioglu, set to grace the stunning west coast of North Cyprus. With its completion anticipated in 2025, this affordable apartment complex offers a unique blend of comfort, style, and breathtaking natural beauty. Located in the serene…
Nestled in the tranquil region of Guzelyurt, Gaziveren, Aphrodite by Evergreen offers an idyllic coastal living experience. This beautifully completed complex captures the essence of a peaceful seaside lifestyle with its meticulously designed 1+1 apartments. Positioned on the 7th floor, this 57…
Experience the epitome of modern living in Famagusta with YüKSEL DEMIR’s latest development, a meticulously designed project that stands as a beacon of contemporary architecture and comfort. With completion slated for 2023, this exclusive offering comprises only 24 apartments across 3 elegantly…
Nestled in the heart of Lapta, a gem on the northern coast known for its vibrant tourist scene and breathtaking Mediterranean vistas, Dindi Construction is proud to present its latest residential marvel. Set to complete in 2024, this exclusive complex is a…
Welcome to Aloha Life, an exquisite complex that encapsulates the essence of luxury living, set to be completed in 2025. This unique development is designed to offer an unparalleled living experience, blending modern amenities with serene landscapes, ensuring every moment at home…
Immerse yourself in the epitome of modern living at Aloha Life, where luxury meets tranquility. Set for completion in the third quarter of 2026, this exclusive complex offers a haven of comfort and style in the heart of a vibrant community. Presenting…
Step into a world where comfort meets elegance at Aloha Life, an exquisite complex where every detail is crafted for a premium living experience. Slated for completion in the third quarter of 2024, Aloha Life is designed to cater to those who…
Nestled in the lush landscapes of Alsancak, Mountain Hill 2 emerges as a prestigious project by Atoll Development, promising an oasis of tranquility and luxury. Slated for completion soon, this complex is designed to harmonize with the natural beauty of its surroundings,…
Introducing Bellagio Residence, an innovative development by Noyanlar Construction, set in the vibrant region of Iskele. Slated for completion in 2025, Bellagio Residence is designed to offer an unparalleled blend of urban sophistication and resort-style living, encapsulating a luxury holiday experience available…
Discover the enchanting allure of Kasgar Residence, a prestigious development by Omag, offering a harmonious blend of luxury, tranquility, and captivating vistas. Nestled in the scenic region of Girne, this exquisite complex stands as a testament to Omag’s commitment to crafting exceptional…
Discover a realm of serenity and rejuvenation at Aphrodite Wellness, an exquisite sanctuary set along the enchanting coast of Morphou Bay. Crafted by the esteemed developer Evergreen, Aphrodite Wellness transcends the ordinary, emerging as one of the Mediterranean’s largest and most advanced…
Welcome to Edelweiss, a haven of tranquility and modern living brought to you by the esteemed developer SarYap Group. Nestled in the heart of Iskele, this exceptional complex offers a lifestyle that combines comfort, sophistication, and natural beauty. Key Features and Lifestyle…
Welcome to Melis, a premier residential complex brought to life by the distinguished Nurel, located in the serene and picturesque region of Alsancak. This exquisite development, now completed, offers an unparalleled living experience, blending modern luxury with the tranquil charm of its…
Welcome to Uzun 30, a sophisticated development by the acclaimed Uzun Group, located in the vibrant heart of Nicosia. This elegant complex, which has been completed, offers a refined living experience, blending contemporary design with the convenience and dynamic pace of city…
Welcome to Uzun 28, a distinguished residential masterpiece developed by the renowned Uzun Group, situated in the historic and captivating region of Famagusta. This exceptional complex, now completed, offers a perfect fusion of luxury, comfort, and modern living, set against the backdrop…
Welcome to The Breeze Long Beach, a stunning development by the renowned Uzun Group, nestled in the picturesque region of Iskele. Completed in 2022, this exceptional complex offers a perfect blend of luxury, comfort, and tranquility. Developed by Uzun Group, known for…
Introducing “Aphrodite Park 4,” a distinguished development by Evergreen, nestled in the heart of Nicosia. This completed complex stands as a testament to modern living, offering an unrivaled residential experience in one of the most sought-after areas of the city. Aphrodite Park…
Introducing “Caesar Resort,” a groundbreaking development by the esteemed Afik Group, set to redefine luxury living in the vibrant region of Iskele. Slated for completion in 2025, Caesar Resort is envisioned as a sanctuary of elegance and comfort, offering an unparalleled lifestyle…
Discover the epitome of luxury living at the “Venice” apartment complex, a prestigious project by the renowned Dem’s Construction, set in the heart of the picturesque Iskele region. With a visionary completion date set for 2029, Venice is poised to redefine modern…
Step into a world where luxury meets convenience in the heart of Guzelyurt, crafted meticulously by the esteemed Lema Group. Slated for completion in 2026, this exclusive complex redefines sophisticated living with its collection of 620 units spread across four elegantly designed…
Discover the enchanting allure of Kasgar Residence, a prestigious development by Omag, offering a harmonious blend of luxury, tranquility, and captivating vistas. Nestled in the scenic region of Girne, this exquisite complex stands as a testament to Omag’s commitment to crafting exceptional…
Introducing Bellagio Residence, an innovative development by Noyanlar Construction, set in the vibrant region of Iskele. Slated for completion in 2025, Bellagio Residence is designed to offer an unparalleled blend of urban sophistication and resort-style living, encapsulating a luxury holiday experience available…
Nestled in the lush landscapes of Alsancak, Mountain Hill 2 emerges as a prestigious project by Atoll Development, promising an oasis of tranquility and luxury. Slated for completion soon, this complex is designed to harmonize with the natural beauty of its surroundings,…
Nestled in the heart of Lapta, a gem on the northern coast known for its vibrant tourist scene and breathtaking Mediterranean vistas, Dindi Construction is proud to present its latest residential marvel. Set to complete in 2024, this exclusive complex is a…
Welcome to Edelweiss, a haven of tranquility and modern living brought to you by the esteemed developer SarYap Group. Nestled in the heart of Iskele, this exceptional complex offers a lifestyle that combines comfort, sophistication, and natural beauty. Key Features and Lifestyle…
Introducing “Caesar Resort,” a groundbreaking development by the esteemed Afik Group, set to redefine luxury living in the vibrant region of Iskele. Slated for completion in 2025, Caesar Resort is envisioned as a sanctuary of elegance and comfort, offering an unparalleled lifestyle…
Welcome to Uzun 28, a distinguished residential masterpiece developed by the renowned Uzun Group, situated in the historic and captivating region of Famagusta. This exceptional complex, now completed, offers a perfect fusion of luxury, comfort, and modern living, set against the backdrop…
Immerse yourself in the epitome of modern living at Aloha Life, where luxury meets tranquility. Set for completion in the third quarter of 2026, this exclusive complex offers a haven of comfort and style in the heart of a vibrant community. Presenting…
Step into a world where comfort meets elegance at Aloha Life, an exquisite complex where every detail is crafted for a premium living experience. Slated for completion in the third quarter of 2024, Aloha Life is designed to cater to those who…
Discover the epitome of luxury living at the “Venice” apartment complex, a prestigious project by the renowned Dem’s Construction, set in the heart of the picturesque Iskele region. With a visionary completion date set for 2029, Venice is poised to redefine modern…
Welcome to Melis, a premier residential complex brought to life by the distinguished Nurel, located in the serene and picturesque region of Alsancak. This exquisite development, now completed, offers an unparalleled living experience, blending modern luxury with the tranquil charm of its…
Welcome to Aloha Life, an exquisite complex that encapsulates the essence of luxury living, set to be completed in 2025. This unique development is designed to offer an unparalleled living experience, blending modern amenities with serene landscapes, ensuring every moment at home…
Welcome to Uzun 30, a sophisticated development by the acclaimed Uzun Group, located in the vibrant heart of Nicosia. This elegant complex, which has been completed, offers a refined living experience, blending contemporary design with the convenience and dynamic pace of city…
Introducing a visionary project by Dem’s Construction, set to redefine urban living in Famagusta. Slated for completion in 2024, this five-storey residential building is a marvel of modern architecture, housing a total of 25 meticulously designed 2+1 apartments, starting from 67 sq.m.,…
We are thrilled to introduce a unique living experience in the heart of Iskele, brought to you by the esteemed Noyanlar Construction. Presenting an elegant and sophisticated apartment in the renowned “Long Beach Park Residence”, this property is not just a home…
Introducing “Aphrodite Park 4,” a distinguished development by Evergreen, nestled in the heart of Nicosia. This completed complex stands as a testament to modern living, offering an unrivaled residential experience in one of the most sought-after areas of the city. Aphrodite Park…
Introducing a captivating new development by Fenercioglu, set to grace the stunning west coast of North Cyprus. With its completion anticipated in 2025, this affordable apartment complex offers a unique blend of comfort, style, and breathtaking natural beauty. Located in the serene…
Nestled in the tranquil region of Guzelyurt, Gaziveren, Aphrodite by Evergreen offers an idyllic coastal living experience. This beautifully completed complex captures the essence of a peaceful seaside lifestyle with its meticulously designed 1+1 apartments. Positioned on the 7th floor, this 57…
Discover a realm of serenity and rejuvenation at Aphrodite Wellness, an exquisite sanctuary set along the enchanting coast of Morphou Bay. Crafted by the esteemed developer Evergreen, Aphrodite Wellness transcends the ordinary, emerging as one of the Mediterranean’s largest and most advanced…
Welcome to The Breeze Long Beach, a stunning development by the renowned Uzun Group, nestled in the picturesque region of Iskele. Completed in 2022, this exceptional complex offers a perfect blend of luxury, comfort, and tranquility. Developed by Uzun Group, known for…
Experience the epitome of modern living in Famagusta with YüKSEL DEMIR’s latest development, a meticulously designed project that stands as a beacon of contemporary architecture and comfort. With completion slated for 2023, this exclusive offering comprises only 24 apartments across 3 elegantly…
Nestled in the tranquil region of Guzelyurt, the Aphrodite complex by Evergreen is a completed sanctuary that promises a lifestyle as enchanting as its namesake. This fourth-floor, 1+1 apartment offers a serene escape with breathtaking views directly over the sea, designed for…
Step into a world where luxury meets convenience in the heart of Guzelyurt, crafted meticulously by the esteemed Lema Group. Slated for completion in 2026, this exclusive complex redefines sophisticated living with its collection of 620 units spread across four elegantly designed…
Step into a world where luxury meets convenience in the heart of Guzelyurt, crafted meticulously by the esteemed Lema Group. Slated for completion in 2026, this exclusive complex redefines sophisticated living with its collection of 620 units spread across four elegantly designed…
Nestled in the tranquil region of Guzelyurt, the Aphrodite complex by Evergreen is a completed sanctuary that promises a lifestyle as enchanting as its namesake. This fourth-floor, 1+1 apartment offers a serene escape with breathtaking views directly over the sea, designed for…
Experience the epitome of modern living in Famagusta with YüKSEL DEMIR’s latest development, a meticulously designed project that stands as a beacon of contemporary architecture and comfort. With completion slated for 2023, this exclusive offering comprises only 24 apartments across 3 elegantly…
Welcome to The Breeze Long Beach, a stunning development by the renowned Uzun Group, nestled in the picturesque region of Iskele. Completed in 2022, this exceptional complex offers a perfect blend of luxury, comfort, and tranquility. Developed by Uzun Group, known for…
Discover a realm of serenity and rejuvenation at Aphrodite Wellness, an exquisite sanctuary set along the enchanting coast of Morphou Bay. Crafted by the esteemed developer Evergreen, Aphrodite Wellness transcends the ordinary, emerging as one of the Mediterranean’s largest and most advanced…
Nestled in the tranquil region of Guzelyurt, Gaziveren, Aphrodite by Evergreen offers an idyllic coastal living experience. This beautifully completed complex captures the essence of a peaceful seaside lifestyle with its meticulously designed 1+1 apartments. Positioned on the 7th floor, this 57…
Introducing a captivating new development by Fenercioglu, set to grace the stunning west coast of North Cyprus. With its completion anticipated in 2025, this affordable apartment complex offers a unique blend of comfort, style, and breathtaking natural beauty. Located in the serene…
Introducing “Aphrodite Park 4,” a distinguished development by Evergreen, nestled in the heart of Nicosia. This completed complex stands as a testament to modern living, offering an unrivaled residential experience in one of the most sought-after areas of the city. Aphrodite Park…
We are thrilled to introduce a unique living experience in the heart of Iskele, brought to you by the esteemed Noyanlar Construction. Presenting an elegant and sophisticated apartment in the renowned “Long Beach Park Residence”, this property is not just a home…
Introducing a visionary project by Dem’s Construction, set to redefine urban living in Famagusta. Slated for completion in 2024, this five-storey residential building is a marvel of modern architecture, housing a total of 25 meticulously designed 2+1 apartments, starting from 67 sq.m.,…
Welcome to Uzun 30, a sophisticated development by the acclaimed Uzun Group, located in the vibrant heart of Nicosia. This elegant complex, which has been completed, offers a refined living experience, blending contemporary design with the convenience and dynamic pace of city…
Welcome to Aloha Life, an exquisite complex that encapsulates the essence of luxury living, set to be completed in 2025. This unique development is designed to offer an unparalleled living experience, blending modern amenities with serene landscapes, ensuring every moment at home…
Welcome to Melis, a premier residential complex brought to life by the distinguished Nurel, located in the serene and picturesque region of Alsancak. This exquisite development, now completed, offers an unparalleled living experience, blending modern luxury with the tranquil charm of its…
Discover the epitome of luxury living at the “Venice” apartment complex, a prestigious project by the renowned Dem’s Construction, set in the heart of the picturesque Iskele region. With a visionary completion date set for 2029, Venice is poised to redefine modern…
Immerse yourself in the epitome of modern living at Aloha Life, where luxury meets tranquility. Set for completion in the third quarter of 2026, this exclusive complex offers a haven of comfort and style in the heart of a vibrant community. Presenting…
Step into a world where comfort meets elegance at Aloha Life, an exquisite complex where every detail is crafted for a premium living experience. Slated for completion in the third quarter of 2024, Aloha Life is designed to cater to those who…
Welcome to Uzun 28, a distinguished residential masterpiece developed by the renowned Uzun Group, situated in the historic and captivating region of Famagusta. This exceptional complex, now completed, offers a perfect fusion of luxury, comfort, and modern living, set against the backdrop…
Introducing “Caesar Resort,” a groundbreaking development by the esteemed Afik Group, set to redefine luxury living in the vibrant region of Iskele. Slated for completion in 2025, Caesar Resort is envisioned as a sanctuary of elegance and comfort, offering an unparalleled lifestyle…
Welcome to Edelweiss, a haven of tranquility and modern living brought to you by the esteemed developer SarYap Group. Nestled in the heart of Iskele, this exceptional complex offers a lifestyle that combines comfort, sophistication, and natural beauty. Key Features and Lifestyle…
Nestled in the heart of Lapta, a gem on the northern coast known for its vibrant tourist scene and breathtaking Mediterranean vistas, Dindi Construction is proud to present its latest residential marvel. Set to complete in 2024, this exclusive complex is a…
Nestled in the lush landscapes of Alsancak, Mountain Hill 2 emerges as a prestigious project by Atoll Development, promising an oasis of tranquility and luxury. Slated for completion soon, this complex is designed to harmonize with the natural beauty of its surroundings,…
Introducing Bellagio Residence, an innovative development by Noyanlar Construction, set in the vibrant region of Iskele. Slated for completion in 2025, Bellagio Residence is designed to offer an unparalleled blend of urban sophistication and resort-style living, encapsulating a luxury holiday experience available…
Discover the enchanting allure of Kasgar Residence, a prestigious development by Omag, offering a harmonious blend of luxury, tranquility, and captivating vistas. Nestled in the scenic region of Girne, this exquisite complex stands as a testament to Omag’s commitment to crafting exceptional…
With property prices still lagging behind comparable Mediterranean countries, North Cyprus provides investors an optimal window to capitalize on significant appreciation potential in the years ahead across residential and commercial asset classes.
Benefits of Investing in North Cyprus
For overseas buyers and expats, investing in North Cyprus apartments offer particularly compelling investment upside thanks to advantageous dynamics.
Affordable Prices Compared to Mediterranean Countries
While situated geographically in the desirable Eastern Mediterranean region, North Cyprusproperty prices remain extremely attractive compared to nearby alternatives. One and two-bedroom units facing the sea can readily be purchased from $100,000 to $250,000 depending on size and location. This discounts comparable Southern Cyprus or Turkey beachfront properties by 25% to 50%. With tourism demand escalating and new infrastructure development planned, properties are still significantly undervalued relative to the potential.
Variety of Apartment Types and Locations
Investors can select North Cyprus property aligned with their objectives, as options abound across budgets, furnishings status, sizes and target tenant profiles. Studios up to spacious 3-bedroom units are available furnished or unfurnished. Locations span bustling cities like Famagusta, the stunning beaches of Kyrenia or quiet villages and townships overlooking mountains or coastline. Such extensive choice allows customizing around preferences.
Lower Living and Maintenance Costs
Following property purchase, owners benefit from Cyprus’s low cost of living compared to the EU, reducing ongoing expenses. Utility costs average 20% to 30% below Southern Europe. Council tax, housing association fees and similar owner costs are also comparatively low. These factors boost net rental yields. Groceries, dining and other variable living expenses are discounted as well versus other Mediterranean countries.
Tax Incentives for Property Owners
Northern Cyprus applies a straightforward income tax framework with allowances that homeowners can utilize to reduce their annual tax liability, enabling higher net rental income. Mortgage interest amounts can be deducted fully over 5 years for instance. Given the country’s moderate income tax rates that peak at 35%, these exemptions hold significant financial value long-term.
Potential for Rental Income
North Cyprus received over 1 million tourists in 2023, creating strong hospitality and rental demand. Apartments in popular destinations like Kyrenia or Famagusta can yield $800 to $1,500+ monthly for a 2 bedroom furnished unit during peak season. With tourism numbers rebounding post-pandemic as casinos and hotels open, rental income potential will further expand.
Property Costs Versus Rental Incomes
Here is a comparison table of property costs versus rental incomes for top investment locations in North Cyprus, benchmarked against other Mediterranean destinations:
Location
Property Cost (2 bed apt)
Annual Rental Income
Rental Yield
Kyrenia, North Cyprus
$150,000
$15,000
10%
Paphos, Cyprus
$300,00
$18,000
6%
Bodrum, Turkey
$200,000
$12,000
6%
Valencia, Spain
$250,000
$15,000
6%
Key Takeaways:
North Cyprus properties generate significantly higher rental yields due to lower purchase costs combined with strong tourism demand
A $150,000 two-bedroom apartment in Kyrenia can yield $15,000+ in annual rentals – a 10% yield
Similar apartments in Paphos, Bodrum or Valencia are 50-100% more expensive, but offer lower 6% yields
Tourism growth, undersupply of rentals and currency advantage makes North Cyprus top for returns
This illustrates the investment upside potential for buyers purchasing property in North Cyprus market while it remains affordable. Rental yields outperform other comparable Mediterranean destinations as prices start catching up.
Best Locations on North Cyprus for Investment
Investment in Kyrenia
Kyrenia, the most popular tourist destination in North Cyprus, presents a wealth of investment opportunities for those looking to purchase property. Investors can choose from a diverse portfolio of properties in Kyrenia, ranging from modern studio apartments to luxurious villas with stunning sea views. The city center, bustling with restaurants, cafes, and various amenities, is an attractive location for investment, appealing to those who wish to capitalize on the vibrant lifestyle of North Cyprus.
Alsancak, located just east of Kyrenia in North Cyprus, is a highly regarded neighborhood offering attractive investment opportunities. Known for its relaxed atmosphere, Alsancak is equipped with numerous stores, banks, and other facilities, as well as a variety of cafes and restaurants. The area features a range of properties for investment, including modern studio apartments and large villas, with the added advantage of generally lower costs compared to Kyrenia. This makes Alsancak an appealing option for those looking to invest in a more laid-back yet amenity-rich area.
Esentepe, a small town located just west of Kyrenia, is a prime location for investment, known for its breathtaking views of the Mediterranean Sea. The area offers a wide range of property options for investors, including various sizes and types of flats. Esentepe is particularly appealing for those seeking unique investment opportunities, as it boasts a mix of contemporary villas and classic stone mansions. This diversity in property types makes Esentepe an ideal choice for investors looking for something distinct in North Cyprus.
Lapta, situated south of Kyrenia in North Cyprus, is a popular area for property investment. It offers a diverse range of options, from contemporary studio apartments to larger villas and traditional stone houses, all boasting stunning sea views. Lapta stands out as an excellent investment choice for those seeking affordable properties in North Cyprus, as the prices here are generally more attractive compared to other areas. This affordability, combined with the variety of property types and scenic beauty, makes Lapta a desirable location for investors.
Girne, located immediately west of Kyrenia and known as the administrative heart of North Cyprus, presents a range of attractive investment opportunities. The region boasts a variety of properties for sale, including contemporary studio apartments and luxurious villas with stunning ocean views. Due to its proximity to the city center and various attractions, Girne is a sought-after area for investment, with property prices generally higher than in other parts of the island. This makes Girne an ideal location for investors seeking premium properties in a central and vibrant setting.
Long Beach, renowned for its stunning Mediterranean Sea views and located near the east of Kyrenia, is an excellent area for property investment. The region offers a variety of apartments for sale, ranging from modern studio apartments to luxurious villas with private pools. Long Beach stands out as an attractive investment option, particularly for those seeking more affordable properties, as the prices here are generally lower than in other parts of North Cyprus. This combination of scenic beauty and lower property costs makes Long Beach a desirable location for investors.
Famagusta, a major city in North Cyprus located to the east of Kyrenia, offers a range of investment opportunities in real estate. The city, known for its modern studio apartments and luxurious villas with stunning sea views, is more developed than other areas of the island. This development level contributes to generally higher property prices in Famagusta compared to other regions. The combination of advanced infrastructure and high-quality real estate makes Famagusta an attractive location for investors seeking properties in a dynamic and well-established urban setting.
Nicosia, the capital of North Cyprus located near Kyrenia to the west, presents a variety of investment opportunities in the real estate market. The city offers a range of properties, from modern studio apartments to spacious villas with stunning Mediterranean Sea views. Due to its proximity to the city center and other benefits, property prices in Nicosia tend to be higher than in other areas of North Cyprus. This makes Nicosia an appealing option for investors looking for properties in a central, well-connected location with a range of amenities.
Guzelyurt (Morphou), a quaint village in the western region of North Cyprus, offers a range of attractive investment opportunities in real estate. The properties available for sale in this area include contemporary studio apartments, sizable villas, and classic stone homes, many with stunning sea views. Guzelyurt is an ideal choice for investors seeking more budget-friendly options, as property prices here are typically lower than in other parts of the island. This affordability, combined with the scenic beauty and tranquil village atmosphere, makes Guzelyurt (Morphou) a compelling location for property investment.
Kyrenia, the most popular tourist destination in North Cyprus, presents a wealth of investment opportunities for those looking to purchase property. Investors can choose from a diverse portfolio of properties in Kyrenia, ranging from modern studio apartments to luxurious villas with stunning sea views. The city center, bustling with restaurants, cafes, and various amenities, is an attractive location for investment, appealing to those who wish to capitalize on the vibrant lifestyle of North Cyprus.
Alsancak, located just east of Kyrenia in North Cyprus, is a highly regarded neighborhood offering attractive investment opportunities. Known for its relaxed atmosphere, Alsancak is equipped with numerous stores, banks, and other facilities, as well as a variety of cafes and restaurants. The area features a range of properties for investment, including modern studio apartments and large villas, with the added advantage of generally lower costs compared to Kyrenia. This makes Alsancak an appealing option for those looking to invest in a more laid-back yet amenity-rich area.
Esentepe, a small town located just west of Kyrenia, is a prime location for investment, known for its breathtaking views of the Mediterranean Sea. The area offers a wide range of property options for investors, including various sizes and types of flats. Esentepe is particularly appealing for those seeking unique investment opportunities, as it boasts a mix of contemporary villas and classic stone mansions. This diversity in property types makes Esentepe an ideal choice for investors looking for something distinct in North Cyprus.
Lapta, situated south of Kyrenia in North Cyprus, is a popular area for property investment. It offers a diverse range of options, from contemporary studio apartments to larger villas and traditional stone houses, all boasting stunning sea views. Lapta stands out as an excellent investment choice for those seeking affordable properties in North Cyprus, as the prices here are generally more attractive compared to other areas. This affordability, combined with the variety of property types and scenic beauty, makes Lapta a desirable location for investors.
Girne, located immediately west of Kyrenia and known as the administrative heart of North Cyprus, presents a range of attractive investment opportunities. The region boasts a variety of properties for sale, including contemporary studio apartments and luxurious villas with stunning ocean views. Due to its proximity to the city center and various attractions, Girne is a sought-after area for investment, with property prices generally higher than in other parts of the island. This makes Girne an ideal location for investors seeking premium properties in a central and vibrant setting.
Long Beach, renowned for its stunning Mediterranean Sea views and located near the east of Kyrenia, is an excellent area for property investment. The region offers a variety of apartments for sale, ranging from modern studio apartments to luxurious villas with private pools. Long Beach stands out as an attractive investment option, particularly for those seeking more affordable properties, as the prices here are generally lower than in other parts of North Cyprus. This combination of scenic beauty and lower property costs makes Long Beach a desirable location for investors.
Famagusta, a major city in North Cyprus located to the east of Kyrenia, offers a range of investment opportunities in real estate. The city, known for its modern studio apartments and luxurious villas with stunning sea views, is more developed than other areas of the island. This development level contributes to generally higher property prices in Famagusta compared to other regions. The combination of advanced infrastructure and high-quality real estate makes Famagusta an attractive location for investors seeking properties in a dynamic and well-established urban setting.
Nicosia, the capital of North Cyprus located near Kyrenia to the west, presents a variety of investment opportunities in the real estate market. The city offers a range of properties, from modern studio apartments to spacious villas with stunning Mediterranean Sea views. Due to its proximity to the city center and other benefits, property prices in Nicosia tend to be higher than in other areas of North Cyprus. This makes Nicosia an appealing option for investors looking for properties in a central, well-connected location with a range of amenities.
Guzelyurt (Morphou), a quaint village in the western region of North Cyprus, offers a range of attractive investment opportunities in real estate. The properties available for sale in this area include contemporary studio apartments, sizable villas, and classic stone homes, many with stunning sea views. Guzelyurt is an ideal choice for investors seeking more budget-friendly options, as property prices here are typically lower than in other parts of the island. This affordability, combined with the scenic beauty and tranquil village atmosphere, makes Guzelyurt (Morphou) a compelling location for property investment.
Kyrenia: Kyrenia is a top tourist destination, with a vibrant range of villas catering to vacationers. Investors can profit from short-term holiday rentals.
Alsancak: Alsancak features a laid-back, local neighborhood vibe. Modern amenities combine with old-world architecture for an eclectic feel.
Esentepe: Esentepe boasts luxurious contemporary villas alongside traditional stone mansions with Mediterranean charm. Invest in North Cyprusproperties here attract wealthy buyers.
Lapta: Lapta provides very affordable homes just south of popular Kyrenia. Many investors on tight budgets can find good rental income potential.
Girne: Girne is the administrative heart of North Nicosia, with higher-priced apartments reflecting its cosmopolitan lifestyle.
Long Beach: Long Beach mixes affordable properties with fabulous Mediterranean vistas. Investors gain from budget prices and tourist demand.
Famagusta: Developed Famagusta offers options for modern houses within an established city. Prices vary across neighborhoods.
Nicosia: Capital city Nicosia has North Cyprus’ most diverse range of property investment. Apartments appeal to professionals, students and more.
Types of Properties Available
Beyond location, size, and amenities, Cyprus real estate can be categorized across several parameters:
By Size and Layout (Studio, 1-bedroom, 2-bedroom, 3-bedroom, 4-bedroom):
Cyprus properties range from compact studio layouts to expansive 4-bedroom units, catering to various occupant needs. Studio properties typically feature a single open-plan living and sleeping area, optimizing space usage. Units with 1 or 2 bedrooms offer private sleeping spaces alongside a living area and kitchenette. Larger properties, like 3-bedroom and 4-bedroom options, are ideal for families, offering multiple bedrooms, full kitchens, and spacious living rooms.
By Furnishing Status (Unfurnished, Partially Furnished, Fully Furnished):
The furnishing status of a property indicates whether it is sold or rented as an unfurnished ‘bare shell’, partially furnished, or fully furnished. Unfurnished properties offer the flexibility for custom interior designs. Partially furnished ones might include essential appliances and basic furniture, while fully furnished properties are ready-to-move-in with a complete set of furnishings, ideal for those seeking minimal setup.
By View (City, Mountain, Nature, Sea, Sunset, Sunrise):
The varied landscapes of Cyprus provide properties with diverse views, including sea, mountain, city, and panoramic Mediterranean vistas. The type of view can influence a property’s pricing and appeal to buyers or renters. Prime views like unobstructed sea or sunset vistas often command higher prices, while properties with garden, mountain, or city views also attract considerable interest due to their unique charm and appeal.
Payment Plans and Mortgage Options
Developers cater to international buyers by offering extended payment timelines over 12 to 48 months on purchases alongside facilitating access to North Cyprus bank financing for foreign purchasers.
Local banks including Kibris Turk Kooperatif Merkez Bankasi and Creditwest Bank offer overseas apartment buyers mortgage lending up to 15% loan-to-value over 15 years for primary residences and 10 years on investment in North Cyprus. Minimum down payments are set around 40% with interest rates ranging between 10% to 15% fixed annually.
Alternative arrangements like deferred payment schedules split over 1 to 4 years or rent-to-own terms are also accessible via reputed developers. This flexibility assists foreign investors in overcoming any initial down payment hurdles.
Purchasing Process and Required Documents
The apartment purchase process requires typical legal and financial documentation used globally in real estate transactions, guided by local English-speaking real estate agents. Key steps include:
Verifying property ownership and title deed status via land registry records
Obtaining purchase clearance from Council of Ministers as foreign buyer
Signing sales contract in buyer/seller names including terms
Processing deed transfer registration and payment of 4% transfer fee
Applying for mains electricity and water connections post-purchase
Standard documents required check financial standing include an overseas police clearance report, bank statements and recent utility bill copies as proof of address.
Real estate loans for investors
Types of Loans Available
Secured Loans
Secured loans require collateral, usually the apartment itself, in exchange for lower interest rates and more flexible repayment terms. Properties, savings accounts or fixed deposits can be used as collateral. They allow borrowers to get larger loans and pay them back over longer durations.
Unsecured Loans
Unsecured loans do not use any assets as collateral. While they are higher risk for lenders, their interest rates are typically higher and repayment periods shorter than secured loans. Unsecured loans may suit buyers looking to supplement their cash purchase of an apartment.
Construction Loans
Construction loans provide short-term financing for apartment buyers looking to construct or renovate. Funds are dispensed incrementally to contractors after inspecting work completed based on an approved construction plan. Interest rates are also paid only on the disbursed amount.
Mortgage Refinancing
Refinancing involves taking a new loan to pay off an existing apartment mortgage, allowing buyers to secure better interest rates or repayment terms. This may suit those seeing reduced incomes or needing cash for other investments. Eligibility depends on having sufficient equity in the property.
Tips for Investing in North Cyprus
Research the Local Real Estate Market
Market Trends: Review sales volumes, pricing changes and growth projections in different locations to identify areas with potential for capital appreciation or higher rental yields.
Returns: Calculate likely rental income, occupancy rates, associated expenses and appreciation to analyze expected returns on investment for the purchase price being considered.
Regulations: Get legal guidance to ensure compliance with North Cyprus regulations like construction laws, title deeds and foreign ownership restrictions for the property being acquired.
Evaluate Property Size, Type and Amenities
Size and Layout: Consider number of bedrooms, bathrooms, ceiling height and layout in relation to needs of eventual tenants or future selling prospects. Factor in potential renovation or expansion possibilities.
Property Type: Compare detached houses, duplexes, studios and multi-story apartment blocks based on investment objectives like rental income potential, future liquidity, renovation costs and expanding or sub-dividing the property over time.
Amenities: North Cyprus apartments often feature shared pools, gyms, gardens, play areas and clubhouses. Having amenities that attract tenants or buyers impact returns. Assess their costs as part of property market evaluations.
Bright Growth Forecast amid Major Development Projects
North Cyprus offers overseas property buyers the opportunity to invest in an emerging market before the accelerated growth phase transforms its real estate landscape over the next 5-10 years.
The government has unveiled multi-billion dollar initiatives focused on tourism infrastructure and diversifying the economy. These strategic projects will directly stimulate housing demand.
Some major development plans underway include:
$300 million Karpaz Gate Marina – this 105,000 sqm seafront mixed-use resort in Famagusta will include 800 villas, shopping and dining zones.
Over $1 billion planned for new luxury hotels and casinos in Kyrenia along the coastline adding over 5,000 rooms over the next 3-5 years.
Proposed $400 million film studios complex in Girne. The media hub will also feature production facilities, 4 & 5 star hotels, entertainment venues and residential space.
Such large-scale investments will bring more tourism, businesses and professionals to raising the need for both short-term and long-term accommodation.
Real estate advisory projects property prices in North Cyprus to appreciate 30-50% by 2025 based on increased demand and current undervalued status. Values however remain 35-40% discounted compared to Southern Cyprus. This establishes strong prospects for outsized returns for investors entering the market now.
An Optimal Window for Outsized Returns
For overseas investments, North Cyprus represents an emerging market opportunity to capitalize on substantial upside in the years ahead. By investing in real estate in North Cyprus, investors are tapping into a market brimming with potential, offering attractive returns on investment due to its growing tourism sector and relatively untapped property market.
Beachfront apartments and villas can still be purchased from around $100,000 – discounts of 50% or more compared to identical Mediterranean alternatives. Yet abundant demand drivers point toward rapid future appreciation of 30-50% by 2025 as the market expands.
Beyond powerful capital gains potential, robust yields between 8-10% stand achievable from short-term rentals or long-term leases thanks to 1 million annual tourists. Rental income can offset or eliminate financing costs.
Investment property in North Cyprus remains off the radar for most foreign buyers unfamiliar with its potential. Yet all the fundamentals signal this window of opportunity will soon narrow. The strategic time for investors to enter the market is now – while asset prices substantially undervalue intrinsic future potential.
North Cyprus real estate impressively aligns affordable entry costs with massive upside prospects over a 5-10 year hold period. Investors have the chance to generate outsized risk-adjusted returns buying ahead of the growth curve.
FAQ
What are the key factors to consider when choosing an investment property in Northern Cyprus?
Key factors include location, property type, potential for appreciation, rental yield, legal status of the property, and your overall investment goals.
How can I ensure the legality and safety of my property investment in Northern Cyprus?
To ensure the legality and safety of your investment, it's important to conduct thorough due diligence, work with credible real estate agents, and seek legal advice from professionals experienced in Northern Cyprus property law.
Is it necessary to visit Northern Cyprus to invest in property?
While it's recommended to visit the property and understand the local market, some investors choose to complete the process remotely. It's crucial to work with reputable real estate agents and legal advisors to ensure a smooth transaction
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