Northern Cyprus Real Estate Market in March 2025: A Buyer’s Advantage

Northern Cyprus continues to attract attention thanks to its mild climate, rich history, and appealing conditions for living and investing. However, in recent months, the region’s real estate market has undergone significant changes, affecting sales dynamics and foreign buyers' interest.

On May 21, 2024, the authorities of the Turkish Republic of Northern Cyprus introduced amendments to Law No. 52/2008, which regulates real estate purchases by foreigners. According to the new regulations, foreign citizens are now allowed to purchase only one property in the country. Additionally, extra fees have been introduced for applying for a purchase permit. These changes have led to a decline in foreign investor interest and, consequently, a slowdown in new property sales.

Due to the decrease in demand, Northern Cyprus developers have adapted their offers by providing more flexible purchasing conditions. Prices for new properties, including move-in-ready ones, have been significantly reduced, and installment plans have become more attractive, offering interest-free and extended payment terms. These measures aim to stimulate sales and attract new buyers.

Despite the recent regulatory changes, Northern Cyprus still offers numerous advantages for residents. The Mediterranean climate with mild winters and hot summers makes the region ideal for year-round living. The island hosts international schools and universities offering high-quality education in English. Relatively low prices for groceries, services, and real estate make Northern Cyprus an affordable option for various demographics.

Alliance-Estate offers property viewing tours in Northern Cyprus, including free three-day accommodation. In case of a property purchase, the company reimburses round-trip flight costs. Investors have access to a wide selection of apartments and villas in areas such as Gaziveren, Kyrenia, Esentepe, Bahçeli, and İskele, with flexible pricing and additional bonuses. New move-in-ready and off-plan studio apartments in luxurious beachfront complexes start from 65,000 pounds, fully finished and ready to move in. Installment plans for completed apartments range from 12 to 50 months.

Despite the new restrictions on foreign buyers, the current real estate market situation in Northern Cyprus presents unique opportunities for property acquisition on favorable terms. With reduced prices, flexible payment options, and attractive offers, March 2025 is an ideal time to invest in the region’s real estate market.