Properties in Kyrenia
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Kyrenia, also known as Girne, stands out as a prime destination for real estate investment in Turkish Cyprus. Kyrenia is known for its natural beauty and good infrastructure. It has many government-backed development projects.
These factors have helped it earn the title of the "favored region" in this small republic. Whether you're searching for apartments, villas, offices, or commercial properties, Kyrenia offers exceptional opportunities for both living and investment.
Where is Kyrenia Located?
Kyrenia is situated in northern Cyprus on the Mediterranean coast, covering an area of approximately 640 square kilometers. To the south lies Nicosia, and to the east and southeast is Famagusta.
The city is approximately 43 kilometers from Ercan International Airport, conveniently located at the heart of Turkish Cyprus. Kyrenia is famous for its Mediterranean charm. It has beautiful sea views to the north and the impressive Kyrenia Mountains to the south. The area has a nice climate throughout the year. It features historical sites such as Kyrenia Castle and the Old Harbor. There are also many services available, including schools, hospitals, and shopping centers. These factors make it a popular spot for both residents and tourists.
Turkey is the only country that recognizes Turkish Cyprus. However, it has a stable political and economic situation. This makes it a good place to live and invest in real estate. Purchasing a property here, whether for residence or business, is a smart long-term move.
Features of Kyrenia Properties
Kyrenia’s real estate market is thriving, offering a variety of modern, high-quality properties suitable for all tastes and budgets. Compared to nearby European countries, property prices in Kyrenia are significantly lower.
Residential Apartments and Villas in Kyrenia
- Apartments: Typically range from 50 to 200 square meters.
- Villas: Start at 150 square meters, with larger options available depending on amenities.
The best properties often feature sea or mountain views and come with modern designs. Many residential complexes offer shared facilities such as swimming pools and gardens.
Popular Residential Complexes in Kyrenia:
- CC Towers Girne
- These residential towers are on Salih Mir Oglu Street. They offer great views of the Mediterranean Sea and the Kyrenia Mountains.
- Close to Peace Park, providing a serene living environment.
- The project is also near Şht. Ecvet Yusuf State Hospital, making it a convenient choice for families.
- Flexible long-term payment plans are available from the developer.
- English Homes
- This residential project is on the edge of Kyrenia. It is perfect for people who want a peaceful life but also enjoy being active.
- Options include ground-floor apartments and penthouse-style townhouses, with gardens and terraces to enjoy the surrounding nature.
- Minimum apartment size: 74 square meters.
- Favilla Serenity
- A villa-only complex located 400 meters from the beach, offering breathtaking views of the Beshparmak Mountains and the sea.
- Villas feature 3 or 4 bedrooms, with private swimming pools surrounded by lush greenery.
Pricing Overview:
- Apartments: Start at $80,000 for smaller units and can go up to $250,000 or more for larger, luxury options.
- Villas: Begin at $250,000, with luxury villas reaching $1,000,000.
Offices and Commercial Shops in Kyrenia
Offices in Kyrenia
Kyrenia offers a wide range of office spaces suitable for ambitious businesses, particularly in tourism, law, legal consultancy, healthcare, and education. Office sizes typically start at 50 square meters, providing flexibility for small and medium enterprises.
- Pricing:
Prices for centrally located offices begin at around $100,000, especially near key markets and major tourist sites.
Commercial Shops in Kyrenia
Kyrenia is a lively tourist spot. It has a busy commercial scene that mixes its historic charm with modern business. Kyrenia has old-town alleys and a historical harbor. It also has busy modern areas. This mix attracts visitors and investors. As a result, there are great chances for businesses to grow.
Kyrenia’s markets have many types of stores. You can find souvenir shops, handmade crafts, fashion outlets, and shoe stores. These shops serve the busy tourists in the city.
- Pricing:
- Smaller shops or those in less central locations start at approximately $216,000.
- Larger shops or those in prime locations near major tourist and commercial areas can reach $4,788,000.
Advantages of Investing in Kyrenia, Cyprus
Investing in Kyrenia real estate comes with both obvious and hidden benefits, some of which include:
- Prime Tourist Location
- High rental yields, especially for properties near beaches and tourist hotspots.
- Modern Designs
- New properties in Kyrenia feature contemporary designs that appeal to both local and international buyers.
- Growing Real Estate Market
- Stability in political and economic conditions supports a thriving property market, driving demand for apartments, offices, shops, and hotels.
- Attractive Rental Yields
- Average rental returns are 6–7%, particularly during the peak tourist season, offering significant earning potential.
- Competitive Prices
- Compared to neighboring European countries, Kyrenia’s real estate prices remain relatively affordable.
- Strong Infrastructure
- Well-developed roads, transport options, schools, hospitals, markets, hotels, and resorts enhance the region’s appeal for investors.
- Government Incentives
- Investments in real estate projects of $500,000 or more can get good tax exemptions. This makes the market more appealing.
Can I Purchase Real Estate in Kyrenia on Installments?
Yes! Kyrenia has flexible purchase options. This makes it great for people who want to invest or live there without paying a large amount upfront. Many real estate projects in Kyrenia provide installment plans, catering to various budgets and needs.
- Payment Plans:
- Down payments generally range from 10% to 50% of the property’s value.
- Annual interest rates on installment plans typically range between 5% and 13%, depending on the developer.
Developers also offer tailored solutions for foreign buyers, making it easier to access attractive deals. For assistance, our company provides customized recommendations to help you secure the best offers.
Kyrenia is a great choice for real estate investment. It combines modernity, history, and economic growth in a unique way. If you want a vacation home, office space, or commercial property, Kyrenia has a bright future.