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North Cyprus Apartment Sales
The Complete Guide for Foreign Buyers
- Published on Apr 11, 2025
- Kourosh Soleymani
Why North Cyprus Apartment Sales Are Gaining International Attention
North Cyprus apartment sales have been drawing growing interest from international property seekers thanks to their affordable Mediterranean lifestyle, promising investment potential, and relaxed living environment. Compared to other coastal markets in the region, apartments in North Cyprus offer relatively low entry costs, yet they have historically appreciated in value. Cities like Kyrenia, Famagusta, Nicosia, and Iskele continue to attract buyers, each offering a distinct lifestyle and pricing spectrum.
While affordability and return potential are key attractions, navigating the legal and financial aspects of apartment sales in North Cyprus is essential, especially for foreign buyers facing regulations like the one-property rule and the Permission to Purchase (PTP) requirement.
Overview of the Real Estate Market: A Spotlight on Apartment Trends
The real estate market in North Cyprus has seen a sustained surge in popularity, particularly among foreign nationals seeking vacation homes, rental investments, or retirement options.
Apartments stand out for being more accessible and manageable than villas, making them ideal for both full-time residents and part-time visitors. According to market insights, while demand for compact apartments like studios and one-bedroom units remains solid, there’s an increasing shift toward larger, family-sized homes—signaling a more long-term, lifestyle-oriented buyer base.
Notably, coastal cities continue to be in high demand due to their blend of scenic beauty, amenities, and strong rental income potential, positioning North Cyprus apartment sales as an attractive investment path.
Popular Regions for Apartment Sales in North Cyprus
When it comes to choosing where to buy, each city has its unique charm:
Kyrenia (Girne): Known for its picturesque harbor, historical ambiance, and bustling social life, Kyrenia apartments are among the most sought-after. Prices typically range between £130,000 to £199,000 for a one-bedroom unit and can exceed £400,000 for luxury properties with sea views.
Famagusta: Offers a balance of cultural richness and natural beauty, ideal for buyers who want proximity to beaches and ancient ruins. Apartments can range from £55,000 to £210,000, depending on size and location.
Nicosia (Lefkosha): As the capital city, Nicosia features more urban-style apartments, with prices ranging between £45,000 and £270,000. The market here is steady, with an annual apartment value growth of around 4.4%.
Iskele: This coastal city is booming with new developments. A 1-bedroom apartment might cost £199,000, while 2-bedroom units can go for over £280,000. Many units are part of full-service resorts with pools, gyms, and beach access.
Other areas like Esentepe, Guzelyurt, and Lefke also offer apartment deals, especially for those seeking lower price points and long-term growth.
Typical Apartment Prices by Region and Type
| Region | Studio (GBP) | 1-Bedroom (GBP) | 2-Bedroom (GBP) | 3+ Bedroom (GBP) | Notes |
|---|---|---|---|---|---|
| Kyrenia | £35,000–£60,000 | £130,000–£199,000 | £165,000+ | £250,000+ | Premium area, prices influenced by views and proximity to the coast |
| Famagusta | £47,000+ | £55,000+ | £95,000+ | — | Developing city with historical attractions and beaches |
| Nicosia | — | £45,000–£270,000 | — | — | Urban environment; good long-term capital growth potential |
| Iskele | — | £199,000+ | £280,000+ | — | Rapid development, ideal for modern living and investment |
| Other Areas | £40,000+ | — | — | — | Esentepe, Lefke, Guzelyurt offer lower prices with future growth prospects |
Costs Involved in North Cyprus Apartment Sales
Buying an apartment involves more than just the sticker price. Here’s what foreign buyers need to factor in:
Stamp Duty: 0.5% of the contract price, payable before registration
VAT (Value Added Tax): 5% on new builds; resale properties may be exempt
Title Transfer Tax: 12% total, split into two 6% payments—one at contract registration, one after PTP approval
Legal Fees: Expect £1,000–£2,000+ depending on service level
Utility Connection Fees: For new builds, around £1,200–£3,500+
PTP Application Fee: Typically around £500, subject to updates
These expenses can add up to 15–20% of the purchase price, so it’s crucial to plan your finances accordingly.
Legal Requirements and PTP for Foreign Buyers
Foreigners must apply for Permission to Purchase (PTP), a legal approval from the TRNC government. This process includes background checks and location scrutiny to ensure the property isn’t near military zones. It can take 6–12 months or longer, during which the buyer may still use the property (if completed), but ownership isn’t officially transferred until PTP is granted.
Important legal limitations include:
One-property rule for most foreigners
No ownership near military or forest zones
Land size restrictions (typically under 5 donums)
20% of new developments must be sold to TRNC or recognized foreign nationals
Lifestyle and Amenities in North Cyprus Apartments
Modern apartment complexes in North Cyprus often offer impressive amenities:
Swimming pools and gyms
Landscaped gardens
Secure parking
Children’s play areas
On-site management
Lifestyle varies by region. Kyrenia is vibrant and social, Famagusta leans historic and relaxed, Iskele is modern and coastal, while Esentepe offers peaceful, luxury retreats.
2024–2025 Outlook: Is Now a Good Time to Buy?
Forecasts suggest that North Cyprus apartment sales will continue to grow, especially in coastal and emerging regions like the west coast. Investors are watching for:
Capital appreciation in developing areas
6–12% annual rental yields from tourism and student tenants
New rental regulations in 2025 promoting transparency
With rising global interest, early entry into this market may yield strong medium-to-long-term returns.
Final Recommendations for Foreign Buyers
To succeed in North Cyprus apartment sales as a foreign national:
Visit the island in person to explore locations
Hire an independent lawyer to check the title and register contracts
Understand all legal obligations, including PTP and ownership limits
Budget for all fees and taxes, not just the property price
Verify the developer’s reputation for off-plan properties
Ask the right questions—about title, permits, fees, VAT, management, and deadlines
With the right support and preparation, buying an apartment in North Cyprus can be a rewarding and life-enhancing investment.
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