The real estate market in Turkish Cyprus, officially the Turkish Republic of Northern Cyprus, offers a captivating variety across its 3,335 square kilometers. This diversity provides abundant investment opportunities in apartments, offices, and commercial properties. The region boasts a solid infrastructure with promising growth, making real estate investments highly appealing for long-term returns.
Turkish Cyprus enjoys an excellent road network, ensuring easy access across its cities, towns, and villages. This accessibility is supported by affordable “dolmuş” minibusses for daily commutes and tourism, along with numerous 24/7 taxi services.
Public infrastructure is well-developed, including reliable water and electricity networks, high-speed internet, and an increasing reliance on renewable energy sources for homes, government institutions, tourist facilities, and shopping centers.
The region is home to high-quality educational institutions covering all academic stages, from public to private schools. While most schools, such as Doğan Ahmet School, The French Cypriot School, and Falcon School, are concentrated in Nicosia, other areas also host notable institutions like the English School of Kyrenia, the Karpas Vocational High School, and Kanakali Secondary School in Famagusta.
Renowned universities, including Eastern Mediterranean University, Ada Kent University, and Western Cyprus University, are primarily located in Famagusta.
Healthcare services are excellent, with well-equipped hospitals like the Elite Research and Surgery Hospital in Nicosia, Kyrenia Private Hospital, and Famagusta Medical Hospital, offering comprehensive medical specialties.
Apartments in Northern Cyprus cater to all tastes with a range of modern and traditional designs. Options include studio apartments, spacious three-bedroom flats, and luxurious villas. Many coastal apartments provide access to beaches and facilities like swimming pools and gyms.
Below are some of the most attractive areas in Turkish Cyprus that promise excellent investment returns for buying or renting apartments:
Office properties are primarily concentrated in urban centers like Nicosia, the administrative and commercial capital and a densely populated business hub. These offices, located near government institutions and corporate headquarters, are ideal for large companies and service-oriented businesses, such as law firms and consultancy offices.
In Kyrenia, many offices boast sea views and proximity to hotels, making them perfect for businesses targeting tourists. On the other hand, offices in Famagusta are strategically located near educational institutions, particularly the university, making them well-suited for businesses catering to students, such as educational centers and training institutes.
Office prices in Turkish Cyprus range from $80,000 to $200,000, depending on the location and building quality.
Commercial properties are typically found in bustling urban and tourist areas, known for their vibrant markets, ensuring high foot traffic and profitable business opportunities.
The best places to purchase retail properties include:
Retail property prices start at $100,000 and can exceed $500,000 in prime tourist locations.
With diverse opportunities in both office and retail spaces, Turkish Cyprus presents a profitable landscape for investors and entrepreneurs seeking to establish or expand their businesses.