A Critical Overview of North Cyprus Property prices and Investment Legislations

Real estate market overview in North Cyprus

• Real estate market overview in North Cyprus : As of 2023, the real estate market in the TRNC presents a dynamic and growing landscape, influenced by several key factors that contribute to its current condition. Below is a report encapsulating the key aspects of property market in TRNC in the last years. Between January 2019 and November 2023, 9,699 foreigners were granted the right to purchase property in the TRNC. A total of 4,569 foreign real estate purchases were made in North Cyprus in the first ten months of the year. Therefore, the real estate transaction volumes saw a dramatic increase of 200%, coupled with a 30% rise in the value of resale houses sold. As far as the most popular locations for the investment concerned, Iskele region particularly favored by Iranian and Russian investors. While Kyrenia and Surrounding Areas like Lapta and Esentepe attracted buyers from Germany and the UK.
Real estate price indices in North Cyprus
Following data retrieved from the property listing websites in North Cyprus as updated in September 2023: