How much does property cost in Northern Cyprus?

Real estate in Northern CyprusTRNC (Turkish Republic of Northern Cyprus) is a piece of paradise that attracts the attention of not only local residents, but also foreigners and Russians. Many tourists, coming from abroad for a week-long vacation, make a firm decision to stay here forever, buy a home, get a title - this is due to numerous factors that make the island territory stand out among neighboring countries. Fragrant flowering gardens, sandy and pebble beaches, warm seas, summer for more than 6 months a year - each street is unique in its own way, surrounded by the English lifestyle and the openness of local Cypriots. A favorable stop for living, a special microclimate are no less attractive advantages: in the winter season in Northern Cyprus it is warm, there is no need to buy mink coats and winter boots; in the summer, when many areas of the world are hot, the island is comfortable - the steaming is smoothed out by the cool sea breeze. Visitors can afford to engage in absolutely any sport: from diving to walking on the mountain slopes. Other advantages of living in Northern Cyprus:

  • low crime rate - the doors of houses and cars are rarely closed, even at night, and children play quietly in the courtyards;
  • quality medicine presented by leading Turkish and foreign doctors involved not only in diagnosing diseases, but also in treating them;
  • one of the best educations on the planet with an English bias, which helps schoolchildren to be well prepared for admission to world universities in Europe and the CIS countries.

Foreigners, and Russians in particular, move to the territory of Northern Cyprus, acquire housing and title. Some start a new life here, start families, and build multimillion-dollar businesses. The TRNC real estate market is well developed, represented by a wide variety of housing options, for every choice and budget. Developers and investors value their reputation, so they offer modern designs of houses, apartments, cottages, and villas on the seashore. Moving to Northern Cyprus today is not a problem; you can buy a home, obtain a title and a temporary residence permit.

Apartments in TRNCWhen entering the territory of the TRNC, an entry tourist visa is placed on a separate form, which is important to keep for the duration of your stay in Northern Cyprus (no marks are placed in the citizen’s passport). A visa can be obtained for a period of 30 to 90 days - after the expiration of the period, you should travel outside the borders of the state or extend your tourist visa without leaving the country. It is important to do this in advance, because each day the visa is overdue is subject to a fine, which will be required from the citizen when leaving Northern Cyprus. An obligatory point that is worth learning is that only a person who has bought real estate with a title in the territory of the TRNC can obtain a residence permit. A residence permit provides the right to medical care, pensioners receive health insurance. But a residence permit does not give the right to get a job or open and run a business - for this you need to obtain additional, appropriate permits. Russians can obtain a residence permit by going through a simple chain of procedures:

  • fill out an application for a residence permit on the website;
  • on the appointed day, go to the police station, provide the necessary documents, including the original and a copy of the citizen’s passport, a registered purchase and sale agreement containing data on the title of housing in Northern Cyprus, a letter from the headman (mukhtar) of the island confirming your residence at a specific address , a certificate from the bank confirming the availability of a minimum amount of $10,000 per person in the account, 2 photographs in color for obtaining a residence permit;
  • take blood tests for AIDS, hepatitis, tuberculosis, provide the results to the service that issues residence permits;
  • wait for the document to be ready by email (you can save it in your phone or print it).

When receiving a residence permit for the first time, the document is issued for one year. After the expiration of this period, it is necessary to extend the right to stay in the country and reside here; Secondary residence permit is issued for 2 years. If you 100% decide to move to Northern Cyprus, get a title and stay here forever, then it is better to apply for permanent residence - the right to permanent residence, which can be obtained after 10 years of residence on the territory of the island state - this document gives the right to an indefinite residence permit in the TRNC . But obtaining citizenship and becoming a full citizen of the country, enjoying all the benefits, living in accordance with local legislation, is much more difficult. This issue should be raised no earlier than after 10 years of permanent residence.

The Red Feniks company answers questions: how much does housing cost, why you cannot buy certain housing in Northern Cyprus, how to obtain a residence permit and obtain a title. Call the phone number and get answers.

Review of housing prices in Northern Cyprus

Apartments in the Turkish part of CyprusThe cities of the Turkish Republic of Northern Cyprus, which foreigners choose for recreation and permanent residence, are washed by the sea and have long coastal strips. Most of the regions include an administrative center with numerous shopping centers, private clothing stores, household appliances, electronics, and food products. The choice of place of residence largely determines the personal preferences and goals of the future owner of a villa, apartment or house. Many of the tourists who want to move to Northern Cyprus for permanent residence prefer the territory close to the Mediterranean coast. List of main regions of the TRNC:

As for the capital of the Turkish part of Northern Cyprus - northern Nicosia - this region does not have direct access to the sea coast. But this does not prevent tourists and local residents from choosing the area as a place to live. Nicosia is rich in modern infrastructure, a huge number of beautiful places that have become the property of the country and local attractions.

Investors and businessmen who want to open a profitable business, not only in the field of real estate in the TRNC, have all the prerequisites for the development of their project. Cities of the TRNC that are not directly connected to the Mediterranean Sea, but still remain popular among foreigners:

  • Gönyeli;
  • Lefke;
  • Guzelyurt (Morphou).

Villa by the seaThe territory of Northern Cyprus today is divided into a Turkish part and a Greek part. Each side differs in many factors: the culture of life, the level of upbringing and education, and of course the prices of apartments. Since January 2023, the demand for real estate in the TRNC has increased several times, which experts attribute to the simplification of the rules regarding the registration and issuance of residence permits for foreign citizens. The cost of real estate in Northern Cyprus is about half lower than in Greece, and the procedure for obtaining a residence permit is much simpler and faster. Prices for purchasing an apartment or a house in the TRNC vary depending on the distance from the coastal strip, the reputation of the developer, and whether the property is furnished and equipped with everything necessary for life. The average prices for concluding a purchase and sale agreement for real estate in Northern Cyprus as of 2023 are as follows:

  • studio – from £60,000;
  • one-room apartment – from £77,000;
  • two-room apartment – from £90,000;
  • three-room apartment – from £120,000;
  • townhouse – from £220,000;
  • villa or house – from £275,000.

At first glance, the cost of housing in Northern Cyprus seems sky-high, and buying a dream apartment seems almost unrealistic. But if you compare the price of buying real estate with the costs of living, it doesn’t turn out to be much. The main thing is to choose a good, conscientious developer who will offer truly high-quality housing. Many foreigners buy housing in Northern Cyprus - houses and villas - even at the construction stage. Most companies in Northern Cyprus offer installment plans for Russians moving for permanent residence.

Our company helps not only to collect the entire package of documents necessary to obtain a residence permit, but also to select real estate on the territory of the island of Northern Cyprus according to your request.

What determines the value of real estate

House in Northern CyprusThroughout Northern Cyprus there are enough hospitals and other medical institutions accepting patients from all over the island. In addition, local English schools pride themselves on a high level of education. In all cities of the TRNC, the doors of local kindergartens and schools are open for children of foreigners. Also, exchange students from neighboring countries come here to study in Northern Cyprus at the American University "Girne", Eastern Mediterranean University, International University "Final", European Educational Institution "Lefke" and others. Depending on the chosen city of the island state, region and distance from the sea, the cost of housing in the TRNC will be different. Prices for the purchase of real estate in the TRNC are determined by other factors:

  • the presence of large stores, administrative centers, entertainment outlets and other modern amenities increase the cost of apartments and villas;
  • a house in a region with developed infrastructure will also cost slightly more than housing in Northern Cyprus in a residential, quiet area remote from the center;
  • proximity to the TRNC coastline also increases not only the quality of living, but also the cost of purchasing real estate.

Before purchasing a home in the TRNC, our company’s specialists offer a selection from our own real estate database, from which you can choose an affordable, profitable option for yourself.

How much do apartments and apartments by the sea cost?

Due to the large influx of foreign citizens to the territory of Northern Cyprus, who come simply to relax or settle permanently, prices for apartments by the sea have increased. If last year the cost for a 1+1 apartment was approximately £70,000, today the exact same option is offered from £77,000; the price for 2+1 apartments increased from £75,000 to £90,000; for apartments in the TRNC 3+1 - increased from £100,000 to £120,000. On average, prices for 1-2-3 apartments on the Mediterranean coast have risen by 10-20%. But, if today your property under a purchase and sale agreement includes a studio or apartment, you don’t have to worry about tomorrow’s future - a foreign citizen buying a home in Northern Cyprus can count on numerous privileges:

  • quality medical care, health insurance;
  • the opportunity to study with the best professors and teachers at universities and schools;
  • space to run your own business in any field;
  • relaxation among the mountains, warm sea and sunshine for 6 months;
  • the opportunity to rent out housing in Northern Cyprus or sell it.

According to analysts, the cost of apartments by the sea will continue to rise. Therefore, now is the time to buy affordable housing for yourself and your family.

Cost of villas and houses in Northern Cyprus

Today in Northern Cyprus there are not as many property titles as there used to be. This opens many doors into the world of purchasing a home for permanent residence. It is difficult to say that houses and villas on the island are available to everyone, but now it is much easier to become a property owner on the island. Moreover, it is not necessary to buy a villa or a cottage by the sea in the TRNC and move here for permanent residence. Another option is also available - for example, many real estate owners purchase a luxury home and rent it out. This is also one of the options for using the space if a studio apartment or 3+1 is a secondary place to live. Compared to last year, prices for villas have increased; today they are represented by the following figures:

  • A modern, furnished, equipped townhouse with a unique design will cost a minimum of £220,000. If North Cyprus property is located close to the Mediterranean Sea, with administrative buildings around it, then the cost of title to the property increases;
  • You can purchase a villa in the TRNC from a developer starting from £275,000 - this is the starting price. Depending on factors such as distance from the coast, the presence of hospitals, universities nearby, large shopping pavilions, the cost of real estate will increase;
  • You can buy a bungalow in the TRNC on the shores of a sandy beach from £400 thousand - this is also the initial option.

How to choose an option that is affordable?

Before buying property in Northern Cyprus for permanent residence, you should decide on the desire and purpose of moving to Turkish territory. If the end point is obtaining a residence permit, obtaining a title, starting a family, educating children, opening a business, then it is better to choose more substantial housing. A villa or cottage located closest to the sea is suitable for this. If the goal is to educate your child at a university, and then go back to your own country or go to study at an international institute in Europe, then you should choose simpler housing - for example, one of the good options is to buy an apartment with 1-2-3 rooms. It will cost less, with the same benefits of the area - the presence of shopping centers, entertainment halls, sports. The procedure for purchasing housing in Northern Cyprus consists of several stages:

  • TRNC real estate inspection. Our specialists help check housing for restrictions, the presence of encumbrances, and distance from military operations. These issues are dealt with by a lawyer, a specialist who understands international issues of purchasing real estate;
  • concluding a preliminary agreement, making a deposit. It is important to understand that if the buyer refuses to conclude a transaction for personal reasons, this fee is not refunded;
  • drawing up a contract for the purchase and sale of real estate in Cyprus with the developer (in case of purchasing primary housing in the TRNC) and a lawyer (in case of purchasing secondary property);
  • registration of the concluded agreement in the territory of the TRNC. The stage requires payment of stamp duty (0.5% of the property value);
  • registration of the fact of purchase with the Northern Cyprus Tax Service, payment for the purchased property according to the contract;
  • after receiving the amount by the seller, receiving the keys to the house;
  • obtain a police clearance certificate from the Ministry of Internal Affairs in advance and submit documents for permission to own real estate (this is handled by a lawyer);
  • transfer of title to sold real estate in Northern Cyprus;

Contact our specialists, they will offer houses in Northern Cyprus, advise you on real estate prices, help with paperwork, and prepare you for moving to a permanent place of residence.