Real estate in
Northern Cyprus




















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North Cyprus Real Estate Directory

Investing in real estate in Northern Cyprus

The real estate market in Northern Cyprus is rapidly gaining momentum. As infrastructure and construction activity increase, so do property prices. Just 7 years ago, buyers could purchase a studio apartment for as little as £22,900, now the same apartments cost at least £89,000. Accordingly, buyers who have managed to purchase a property in North Cyprus have gained more than 250% of the original price in the last 7 years. This price increase in particular is having a positive impact on investors who have already looked at North Cyprus and its potential.

It is worth noting that this is not the end of the line and prices continue to rise, so new buyers still have a chance to buy a property and resell or rent it out at a profit later on. The average payback period for owning through renting is between 11 and 13 years. By comparison, in Spain the amortization of apartments is more than 15 years.

Below you will find real statistics and analysis on the real estate market in North Cyprus

Statistics on the value of properties and their profitability for long-term rentals

Alsancak 2 +1 (85 m2)

Year Cost (GBP)   Rent (GBP)  Payback (years)
2015 51,000 300 13
2016 53,000 340 13
2017 56,000 380 13
2018 60,000 400 12
2019 64,000 430 12,5
2020 64,000 450 12
2021 65,000 480 11
2022 77,000 600 11
2023 82,000 700 10

Iskele 2 +1 (85 m2)

Год Cost (GBP) Rent (GBP)  Payback (years)
2015 49,000 320 13
2016 53,000 350 12
2017 57,000 380 12,5
2018 62,000 410 13
2019 65,000 430 13
2020 68,000 450 13
2021 72,000 500 12
2022 77,000 800 8
2023 89,000 1000 7,5

Famagusta 2 +1 (85 m2)

Год Cost (GBP) Rent (GBP)  Payback (years)
2015 42,000 250 14
2016 45,00 265 14
2017 48,000 280 14
2018 55,000 320 13
2019 62,000 350 15
2020 67,000 380 15
2021 70,000 400 14,5
2022 73,000 500 12
2023 75,000 550 11

Cost of apartments by region, depending on the number of bedrooms:

  Studio 1+1 2+1 3+1
Nicosia (capital) £  45 000-50 000 £ 55 000-60 000 £ 65 000-70 000 £ 75 000-85 000
Kyrenia £ 80 000-90 000 £ 95 000-110 000 £ 115 000-130 000 £ 135 000-150 000
Famagusta £ 55 000-60 000 £ 65 000-70 000 £ 75 000-95 000 £ 100 000-120 000
Iskele £ 85 000-120 000 £ 110 000-140 000 £ 150 000-190 000 £ 210 000-250 000

Complimentary 3 days free familiarization tour as a gift

A free familiarization tour in Northern Cyprus is the perfect opportunity to make sure you make the right choice

Why choose Northern Cyprus?


Northern Cyprus is located at the crossroads of Europe, Asia and Africa, providing excellent prospects for business, tourism and free movement.


Mediterranean climate with warm summers and mild winters, providing comfortable conditions for recreation and an active lifestyle all year round.


The local nature is breathtaking. Here you will find emerald beaches, mountain ranges, nature reserves with rare species of plants and animals, picturesque lakes and fertile valleys.


The island prides itself on the hospitality of its people, whose multi-ethnicity creates a unique and diverse cultural environment.

Real Estate

North Cyprus offers a wide range of real estate opportunities. Here you will find affordable house prices as well as attractive investment opportunities. North Cyprus offers a wide range of properties that combine comfort, style and quality.


Schools, colleges and universities offer high quality education of international standard. It is home to universities and colleges that attract students from all over the world.


The island is one of the safest places to live and vacation. It offers a stable social environment and low crime rates, making it an attractive destination.

Northern Cyprus is a place where you can enjoy beautiful nature, quality of life, new opportunities and security, and we are ready to be your reliable partner in this exciting journey.

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    The first thing to do is to decide on the purpose of buying the property.

    You should also understand what factors are important to you and what you can overlook.

    Is it important for you to live near the sea, or is it more important for you to be close to the mountains?

    To live in an apartment complex or a villa?

    For example, the best places to move to with your family and children are Kyrenia, Famagusta and the nearest settlements, as well as Iskele.

    As these areas have the best developed infrastructure.

    A wide range of schools and kindergartens, entertainment for every taste, etc.


    Iskele, Kyrenia and Famagusta are also the best areas for investment.

    These areas are in high demand for rental properties.

    Firstly, because of the proximity to universities.

    Secondly, some of the best sandy beaches.

    Thirdly, as mentioned above, the best developed infrastructure.

    Therefore, you will be able to rent out accommodation for both students and tourists.

    For university students, Famagusta, Kyrenia, Nicosia, Güzelürt or Lefke are the best places to live.

    These areas are home to some of the best educational institutions in Northern Cyprus.

    If you are tired and want peace and quiet, then you should pay attention to the settlements near Kyrenia: Chatalkoy, Ozankoy, Alsanjak, Lapta or Karsiyaka. Also Esentepe, Tatlisu, Karpas.

    The beauty of the nature of Northern Cyprus will not leave anyone indifferent.

    Here are a number of aspects:

    – Passive income from renting out the apartment both during the bathing season and other times of the year;⠀⠀⠀⠀⠀⠀⠀⠀⠀

    – A wide range of investment options;⠀⠀⠀⠀⠀⠀⠀⠀⠀

    – Buying an apartment can protect your money from possible inflation;⠀⠀⠀⠀⠀⠀⠀⠀⠀

    – Relatively low cost of investment compared to other Mediterranean countries;⠀⠀⠀⠀⠀⠀

    – The value of real estate near the sea does not decrease and at any moment it can be sold at a price close to the market price or earn on the difference between the purchase and sale price.⠀⠀⠀⠀⠀⠀⠀⠀⠀.

    – The possibility of obtaining a residence permit when purchasing any real estate! ⠀⠀⠀⠀.

    Also North Cyprus has a wide range of apartments, as the real estate market is very promising.

    The Mediterranean climate suits even the most picky investors. Unique beaches, turquoise color of sea water, low prices, a lot of natural and historical sights attract more and more tourists from all over the world. Investors can expect a return on their investment within a short period of time .⠀⠀⠀⠀⠀⠀⠀⠀

    We will find for you the ideal object in a ready-made or under construction complex, help you to rent or profitably resell, carry out professional management and much more.

    Investing in real estate with Golden Gates Estate is reliable and efficient!

    HERB DUTY 0.5% of the value of the property (payable at the tax office when registering the contract)

    TITLE TRANSFER TAX – 12% of the value of the property, of which 6% is payable upon registration of the contract and the remaining 6% upon transfer of the title to your name.

    VAT – 5% of the property value

    TRAFFEE OR TRANSFORMATORY FEE from 1.000 to 2.500 pounds (the amount depends on the specific complex )

    UTILITY CHARGES. Connection of water and electricity meters, payment of sewerage fees, garbage bins for today the total amount is about 13.000 Turkish Liras.

    ANNUAL PROPERTY TAX. Calculated based on the area of the property (3 Turkish Liras per 1 sq.m.)

    MAINTENANCE OF THE COMPLEX. Paid annually from 250 pounds per year to 1200 pounds per year. In each complex is calculated individually based on the infrastructure.

    Many of our clients face this question. That is why today we have decided to explore this topic in more detail. Let’s analyze the pros and compare these two offers in order.⠀⠀⠀⠀⠀⠀⠀⠀

    At the construction stage:⠀⠀⠀⠀

    First, buying real estate at the construction stage is considered the most profitable offer: as prices are often lower by 20-25%;

    Secondly, it is possible to get an interest-free installment from the developer for up to 6 years. If you compare this with ready-made objects; real estate, there the maximum installment is available only up to 2 years.

    Thirdly, the down payment will be much less than for ready-made apartments. Usually the amount is 30% of the total cost;

    More apartment options to choose from: you can choose an apartment with a better location and view;

    Also during construction it is possible to make some changes in the apartment, for example, redevelopment of the apartment for a small amount of money or even free of charge. These points can be discussed with the developer.⠀⠀⠀⠀⠀⠀⠀⠀

    Finished apartment:

    You see the apartment already in a ready-made version, there is no fear of buying a cat in the bag

    There is no long wait for the construction of the property. You will not have to spend extra money on renting another apartment while yours is being completed.

    The principle – come in and live. The apartment is fully ready for occupancy, often already has furniture, all communications are connected.

    If you are considering the purchase of real estate as an investment, you can start earning on renting an apartment immediately after purchase.

    There is no right and wrong choice here. Everyone chooses the option that suits them best at the moment.

    Northern Cyprus is very attractive in terms of education.

    – Education on the island is of high quality as it is based on the British system.⠀

    – Despite the legal status of the state, North Cyprus diplomas are recognized worldwide.

    – Prices for education are more affordable than in Europe and the USA.

    Studying in Northern Cyprus attracts not only local students, but also migrants from Europe and the CIS countries, buying real estate in this part of the island.

    Here you can safely go for higher education, as well as for children’s schooling

    The education system of Northern Cyprus is based on the British system, which consists of 4 levels:

    Stage 1 – Preschool Education.

    The format of preschool education is similar to CIS countries: preschoolers attend kindergartens, where they are grouped into groups according to their age. Gardens in Northern Cyprus are paid, the mandatory part of the educational program is the study of English.⠀

    Stage 2 – Primary School.

    Education in elementary school begins at the age of 5-6 years and lasts for 5 years. Education can be conducted both in private (paid) and public (free) schools.

    Stage 3 – Secondary School.

    Secondary school education is from 5th to 11th grade. Public school education is a 6-day work week, while private schools have a 5-day work week. Private schools are usually assigned to certain colleges and universities, and pupils of such schools are oriented to enter these higher educational institutions.

    The climate and natural conditions of Northern Cyprus contribute to the maintenance of a good immune system:

    Iodine-rich sea air

    Clean mountain air filled with the scent of flowering herbs

    Mild change of seasons

    And also predominantly sunny days 320-330 days of sunshine per year!

    North Cyprus remains hospitable all year round: in summer and autumn it welcomes you with warm sea, in winter with educational tours and in spring with bright colors.

    We are always ready to give you a warm welcome and serve you with responsibility and professionalism.

    In case you decide to come for a familiarization tour and unpack North Cyprus for a real estate purchase, we guarantee you our assistance and accompaniment all the way.

    Cyprus is an island in the Mediterranean Sea, which means you can only get here in 2 ways: by air or by sea.

    – Ercan Airport

    There is one operating airport in Northern Cyprus. It is located 25 km from the capital Nicosia, 35 km from the city of Kyrenia and 50 km from Famagusta.

    According to unconfirmed reports, it is said that Russian airlines will soon fly there. So far there are no direct flights and all flights to Northern Cyprus and back are made only through Turkey.

    – Greek Cyprus airports

    There are 2 airports on the South side of the island: in Larnaca and in Paphos. The closest airport to Northern Cyprus is Larnaca.

    It is about an hour by car from the border. In order to fly to South Cyprus, you need a valid multiple-entry Schengen visa (no visa is needed to visit North Cyprus!).

    – By ferry

    From Tashuju you can get to Kyrenia, from Mersin you can sail to Famagusta, and there are also cruises from Alanya.

    An additional plus will be that this way you can transport your car to the island.