Property in Famagusta (Gazimagusa), Northern Cyprus

Famagusta, situated on the east coast of Northern Cyprus, is the capital of Gazimagusa District and a huge territory that stretches from north to south. Famagusta is adjacent to Kyrenia in the west,  Nicosia in the southwest and Iskele in the North. This region is home to some of the most popular tourist destinations in the country and is constantly in high demand from international home buyers. It is about an hour's drive from Kyrenia, another favorite expat destination and the Ercan International Airport is 29 km away.

Famagusta, formerly a commercial harbor and fishing village, is a remarkable combination of ancient walled city and modern developments, unique buildings and architectural elements. Along with a rich history, the location has the island's deepest developed harbor, making the city the island's commercial centre.

Famagusta has amazing beaches with excellent facilities for swimming and snorkeling. This harbor town is a superb summer vacation destination due to the bay's expanse of golden sands. The beaches surrounding Famagusta are considered as the finest on the island, and they are also a fantastic starting point for visiting the Karpaz peninsula, a wild and unpopulated area filled with magnificent beaches and wild donkeys.

Real Estate Market in Famagusta

The Famagusta region has long been regarded as a beach resort with a positive atmosphere. Real estate has continually met demands for holiday houses, retirement homes, relocation, and permanent housing, and this trend is likely to continue due to the natural surroundings. Investors from various areas have different real estate preferences, but the Famagusta region has managed to become a destination for all of them. 

In general, a solid principle to follow for international real-estate investment is to purchase a property where locals are investing since they are familiar with the market. Local purchasers provide a significant boost of confidence to buyers from many other countries planning to invest in the Famagusta area.

Famagusta attracts hundreds of investors and is a famous real estate investment destination thanks to its kilometers of white sand, clear turquoise sea, historical background and well-preserved cultural heritage. There are numerous property options in Famagusta, including beachfront luxury villas, high-end flats, vacation homes, stone houses, and large plots of land.

Reasons to Buy a Property in Famagusta

Famagusta is an appealing place to buy property because, despite being a historic city, it is exceptionally well-run. The municipal administration has worked hard to preserve the city's biodiversity, architecture, and heritage.

There are several historical sites worth seeing in Famagusta, including the Monastery of St. Barnabas, which was established in honor of Cyprus' patron saint. Othello's Tower, a tall, majestic structure overlooking the sea, is renowned for its stunning Gothic wall, as well as the Venetian Palace.

Famagusta is one of the most remarkable educational and tourism hubs in Northern Cyprus. It is worth mentioning that the town is home to an Eastern Mediterranean University campus, as well as other well-known universities and institutions, with more than half of the student population. Students may be seen everywhere, on the streets, in the markets, in coffee shops, nightclubs, and bars, particularly on Salamis Road, which is the most popular and exciting spot in town. During their first year in college, most students prefer to live in a dormitory. They usually rent an apartment with their friends once they have figured out their way around the city. Famagusta is prepared for this and has a large supply of inexpensive housing, making it a lucrative opportunity for investors to purchase such units and rent them out. Typically, these rentals are paid in cash in advance for a year.

Due to the increasing number of university students in the Turkish Republic of Northern Cyprus, the demand for Famagusta apartments for rent and sale strengthens the Famagusta real estate market.

Famagusta housing developments have seen a significant expansion as a result of recent investments by Famagusta construction companies.

Tourism, education, and the real estate and construction industry, which has gained popularity in recent years, all play an important role in the economy of Famagusta.

Popular Property Areas in Famagusta

Property in Famagusta is in high demand, particularly in the areas of Paralimni, Protaras, Tatlisu and Ayia Napa.

Paralimni is a contemporary neighborhood with beautiful homes, gardens, pools, and streets lined with tall trees. It is a really lovely, tranquil, family-friendly, and child-safe environment. There are many stores, boutiques, coffee shops, cafes, and supermarkets nearby. Paralimni combines the advantages of a traditional village with the amenities of a modern town.

Protaras, with its historic churches, sea caves, windmills, and other landmarks, is one of Famagusta's most picturesque regions and famous the tourist area that extends along the eastern coast of Paralimni. Hotels, self-catering flats, and a variety of restaurants, taverns, bars, and clubs are available to satisfy the needs of even the most demanding visitor. It is perfect for families, couples, and individuals and has a big British and Scandinavian expat community.

Ayia Napa is well-known for its gorgeous beaches and for the majority of the year, the weather is ideal. There are numerous opportunities for water sports such as snorkeling, windsurfing, swimming, scuba diving, kayaking, and more. There are many nightclubs and bars in the area, so expect a vibrant nightlife.

Tatlisu is a well-known area in Northern Cyprus, located northwest of Famagusta, between the Kyrenia Mountain Trail to the east and the Mediterranean coast. This area is known for its natural beauty, unspoiled environment, lush vegetation, gorgeous sandy beaches, and the Mediterranean Sea's crystal clear waters. Tatlisu has an area of around 66 km2, including agricultural land. You may, however, own a wonderful, luxury contemporary home in a new residential complex while still having access to various historical and cultural heritages. International residents mostly from England, Germany, Pakistan, and Russia live in the Tatlisu area, particularly along the shoreline.

Northern Cyprus's real estate market has been expanding in recent years. As a result, now is a fantastic time to buy your dream Famagusta home. There are many properties for sale and rental options available across the area, so you can be certain that Famagusta will fulfill your requirements and expectations.