Real Estate in North Cyprus

The real estate sector in North Cyprus is an intensely dynamic market due to many attractive characteristics of Cyprus. Real estate investors want to benefit from several advantages arising from the strategic location of Cyprus. Cyprus seems to be a rather alluring country also in terms of the business sector and life quality.

How is the Real Estate Sector in North Cyprus?

Housing purchase, sale, leasing, villa sale, villa leasing, etc. in North Cyprus real estate market has recently become dynamic. Having achieved an ascending trend generally in recent years, North Cyprus real estate sector has now been enlivened with the opening of the season. Although it has a small-scale economy, Northern Cyprus has a rapidly developing structure. In addition, this situation affects real estate prices; prices are increasing. There is a continuous increase in prices.

North Cyprus Central Kyrenia Real Estate Prices Are on the Rise!

North Cyprus real estate sector is especially dynamic around central Kyrenia! The demand for houses and villas are huge. Kyrenia reserves its leadership position in the real estate market of North Cyprus. Prices are high in sales and rental income! In the Kyrenia region, mostly residence-style projects are realized. Villa-style structures, on the other hand, are located intensely in Kyrenia. Standard villa prices vary according to the regions they are located in Kyrenia. While villa prices are between 180 and 275 thousand Sterlings in Kyrenia’s western part, they are between 180 and 375 thousand Sterlings in its center. On the eastern part, on the other hand, villa prices are between 115 and 250 thousand Sterlings. The luxury-type villas on the Western side are priced on average between 450 and 1500 thousand Sterlings. It is possible to purchase a luxury villa for a price between 300 thousand and 3 million Sterlings in the city center. On the eastern part, a luxury villa is priced between 350 thousand and 1 million 500 thousand Sterlings. The prices of standard flats in Kyrenia are between 55 and 70 thousand Sterling on the western side. In Kyrenia’s center, average prices vary between 40 and 110 thousand Sterlings. In the eastern part of Kyrenia, an average flat price is between 60 and 110 thousand Sterlings.

Real Estate Prices in Famagusta Are on the Rise!

In the real estate sector in North Cyprus, the Famagusta region is one of the areas which set the market in motion. The existence of Eastern Mediterranean University increases the housing prices here. Investments that are related to flats and rental income are made intensely. While the price of a standard villa is between 75 and 120 thousand Sterlings, luxury villas find buyers between 255 thousand and 355 thousand Sterlings. Flats with standard characteristics are sold for a price between 40 thousand and 75 thousand. Luxury flats of Famagusta vary between 80 thousand and 120 thousand.

North Cyprus Trikomo (İskele) House and Villa Prices

In the North Cyprus Trikomo region, mostly summerhouse- and compound-type projects are realized. A standard villa in Trikomo is put on sale for a price between 80 thousand and 95 thousand Sterlings. A villa with luxury characteristics, on the other hand, find buyers for a price between 170 thousand and 250 thousand Sterlings. Standard flat prices in Trikomo vary between 30 thousand and 60 thousand Sterlings. If you want to buy a luxury villa, prices in the Trikomo region are between 65 thousand and 150 thousand Sterlings. Although Güzelyurt is the least buoyant place in Cyprus’s real estate sector, some dynamism has been seen thanks to the investments made on universities. A standard flat is put on sale for a price between 40 thousand and 65 thousand Sterlings.

North Cyprus Rent Prices 2020

In the real estate sector in North Cyprus, the average figure of a monthly rental income is between 255 thousand Sterlings and 250 thousand Sterlings. Villa prices in Kyrenia are approximately between 600 and 2000 Sterlings. Flat rental prices are somewhere between 270 Sterlings and 1,000 Sterlings. Monthly rental prices of Nicosia villas, on the other hand, vary between 550 and 900 Sterlings. Flat rental prices are between 200 and 450 Sterlings. Famagusta monthly villa rental prices are between 400 and 800 Sterlings. Flat rental prices are between 250 and 450 Sterlings.