The Turkish Republic of Northern Cyprus is a land of magic, completely worthy the title "Pearl of the Mediterranean". It offers a rich and colorful tapestry of unspoiled natural beauty ranging from golden beaches with sparkling crystal clear water to fields of carpeted wild flowers and the pine covered heights of the Kyrenia Mountain Trail (Besparmak Mountains), which stretches for roughly 160 kilometers along the island's northern coast.
Many tourists fall in love with the island's unique atmosphere and flair and return year after year to enjoy the island's rich and varied history, unspoiled landscapes, rich culture, easygoing lifestyle, great weather, and extremely welcoming people. The climate on the island is so lovely that people may swim even in the winter. Because of the moderate climate, air conditioning is the most common method of heating throughout the winter. However, in latest developments, developers have begun to incorporate underfloor heating systems to make the homes more comfortable.
Since the British took over as Cyprus's colonial rulers in the 1890s, non-Cypriot Europeans have been investing in housing market in Northern Cyprus for many decades. The British imprint on Cyprus is still visible: cars drive on the left, English is an official language, and all traffic and street signs are in both English and Turkish.
Northern Cyprus has around 10.000 British expatriates as well as residents from all over the world, including Germany, Switzerland, Austria, Turkey, Russia, Scandinavia, the Middle East, and many other European countries.
Buying an apartment, villa, or land in North Cyprus offers various advantages:
- The value of real estate has grown significantly: North Cyprus real estate is gaining in value on a daily basis due to its popularity as a Mediterranean tourist destination, and demand is growing. Furthermore, since it is a small island country, real estate availability is limited.
- Climate: Cyprus offers a lengthy swimming season, with up to 320 sunshine days per year and moderate seasonal changes.
- Nature: The island has a diversified landscape (mountains, sea, steppes, and woods), as well as large forest areas that are beneficial to people's health.
- Reasonable prices: Northern Cyprus properties are less expensive than in Europe. The real estate market suits all requirements and budgets. While you may purchase a magnificent coastal home, you can also find low-cost flats that you will not find in any other European country.
- An increasing investment: Property prices in North Cyprus are growing at a rate of up to 10% per year in important investment zones. Prices in other areas have remained extremely stable. This contrasts with declining prices in other parts of the Eurozone. The reason why real estate in Northern Cyprus has been so stable is because it was developed with private capital instead of loans from the international financial system.
-Low property taxes: The property tax in Northern Cyprus is quite cheap, and when the currency rate is considered, real estate investment becomes even more advantageous.
Additional benefits of purchasing a home in Northern Cyprus include a growing tourism sector, low crime rates, a high standard of living, a friendly local people, delicious cuisine, excellent transport links (Ercan Airport), and cheap living expenses.
Northern Cyprus real estate prices are 2-3 times lower than in the southern part of the island. The prices of a properties are determined by a variety of criteria, the most important of which are the stage of development, location, type of property, and proximity to the sea.
Villas: On the island, there are many Mediterranean-style villas of various sizes and designs. These local property market staples often have three to four bedrooms, a garden, a private or communal pool (depending on whether it is part of a complex), private parking, a barbecue area, and a breathtaking view.
Apartments: Apartments are generally appealing to couples and retirees looking for a permanent or vacation home due to their cost and proximity to amenities and the beach. Despite the fact that they sacrifice outside space in exchange for a prime location, apartments frequently include a balcony with wonderful views and space for entertainment. There are various apartment types to choose from, including garden apartments, penthouse apartments, and loft apartments.
Properties in a residential complex: Living in a resort complex, whether in an apartment or a villa, can be a socially active experience. Communal facilities, such as gardens, bars, swimming pool, spa, seminar rooms and gym, guarantee meeting friends in your new home. However, this community feeling comes at a cost, so be prepared to pay common maintenance fees.
Rural stone properties: If you want to get away from the crowds and enjoy a slower pace of life, travel to the island's inner highlands and forests. Here you can find peaceful villages with classic stone houses with thick walls that keep the heat out during the summer and lots of possibilities. Renovating a rural wreck may be a really rewarding experience since it allows you to put your signature on the property and own a home with true character in a gorgeous environment.
Bungalows and Townhouses: Low-rise buildings with a separate entrance and garden are usual.
Each location in Northern Cyprus has its own advantages and disadvantages that will appeal to different types of property buyers. Some regions are more appropriate to investors looking to rent to tourists, while others are better suited to lifestyle purchasers or retirees. Some are closer to the golf club, while others are closer to universities, schools, or hospitals. Tourism is the main source of economic growth, and as visitors and expats continue to invest, the booming property market grows year after year.
Northern Cyprus is divided into 6 distinct regions with different features, each having a diverse selection of property options: Nicosia in the center of the island, Kyrenia in the north, Famagusta in the east, Guzelyurt in the west, Lefke in the southwest and Iskele in the northeast.
- The capital city of Nicosia in the center of Cyprus, with its vast array of stores, restaurants, museums, and historical features, as well as good medical facilities and walking crossroads to South Cyprus shops.
- Kyrenia, a north coast tourist port town with charming cobblestone backstreets, a gorgeous mountain background, harbour restaurants, a historic castle, and a large selection of tourist amenities, flats, and hotels on the outskirts - as well as neighboring mountainous Bellapais, with its famous Abbey and music festivals.
- The north coast east of Kyrenia, towards Karpaz, featuring the sandy Turtle beach, the Esentepe area with its well-known 18-hole Golf and Beach Club, rocky coves with delightful cafés, and mountain treks with easy access to Kyrenia.
- The north coast west of Kyrenia, with its long-established ex-pat settlements of Lapta and Alsancak, as well as the popular Escape Beach Club.
- The west coast bay Area, with its surfing clubs, picturesque market town of Guzelyurt, charming university town of Lefke, and historic sites of Soli and Vouni.
- The flatter east coast, with its well-known large sandy beaches, historic Salamis Roman remnants, and Famagusta, with its ancient walled city and University.
- The well-known wild Karpaz Peninsula, with stunning views of the mountains and coastline, wild donkeys, and kilometers of unspoiled sandy beaches, as well as the beautiful new Karpaz Gate Marina.
New residences are being developed at an extraordinary speed. Mostly along the north shore of the Kyrenia region, with the most popular areas being Esentepe and Bahceli immediately east of Kyrenia. Further east in neighboring localities are Kucuk Erenkoy and Tatlisu. You are practically in the center of nature, between the sea and the mountains, with easy access to amazing beaches, golf, and other facilities. The same can be said about the Iskele region, which includes places like Long Beach and Bafra. These locations are well renowned for their kilometers of golden sandy beaches.
If you want to live more centrally in a town close to most amenities, there is a wide range of modern apartments and villas in the Kyrenia Centre as well as on the city's outskirts at Catalkoy and Alsancak.
Buying property in Northern Cyprus is not only a great way to enjoy the sea and sun all year, but it is also a wise investment that will help you multiply your investment.