Property market in Girne/Kyrenia

The property market in Girne, also known as Kyrenia, in the northern part of Cyprus, has undergone remarkable development in recent years. This picturesque coastal town, known for its stunning harbor views and rich history, attracts not only tourists but also investors worldwide. The combination of Mediterranean climate, cultural diversity and high quality of life makes Girne/Kyrenia an attractive location for property investment. The thriving economy, supported by tourism and increasing recognition as a center for education and entrepreneurship, provides a solid foundation for the property market. Investors and home buyers will find a variety of property types in Girne/Kyrenia – from luxurious villas with sea views to cozy apartments and bungalows in community complexes. The availability of properties in various price ranges, together with a stable growth in property values ​​over the years, makes Girne/Kyrenia an enticing market for investors looking for long-term capital appreciation and returns. This guide aims to provide a comprehensive overview of the property opportunities in this region and highlight important considerations for investors.

Why invest in property in Girne/Kyrenia?

The property market in Girne/Kyrenia offers a unique combination of growth potential and quality of life that sets it apart from other markets. The strong demand for housing, driven by the growing population and the influx of expats and international students, makes for a dynamic property landscape. Investing in property in Girne/Kyrenia not only promises potential capital appreciation, but also attractive rental returns. The region is a popular holiday destination, which guarantees high demand for holiday apartments and houses all year round. In addition, the Turkish Republic of Northern Cyprus offers comparatively low living costs and tax benefits for investors, making the decision to invest here even more appealing. The government supports foreign investment through simplified procedures and incentives, making it easier to purchase Northern Cyprus real estate in Girne/Kyrenia. With the steady development of infrastructure and the increase in services and amenities, the region’s attractiveness for a long-term investment is also increasing.

Northern Cyprus Real Estate Market Overview

Northern Cyprus, with Girne/Kyrenia as the jewel in its crown, represents a growing economy that is largely supported by the real estate sector. Property prices in Northern Cyprus have developed positively in recent years, making the region an attractive market for investors and buyers. The property market in Northern Cyprus is characterised by a wide range of property options, ranging from traditional houses in village locations to modern residential developments close to the city. Despite the steady growth, property prices remain relatively affordable compared to other Mediterranean destinations, making Northern Cyprus an ideal place to purchase a second home or investment property. The Government of Northern Cyprus has recognised that the property sector is a key driver of the economy and has therefore taken measures to encourage investment and simplify the purchasing process for foreign investors. These positive developments are helping the property market in Northern Cyprus, particularly in Girne/Kyrenia, to continue to prosper.