The new property boom in Northern Cyprus strongly reminds of Annan Plan times, as the statistics shows 25% increase in property sales in recent months. According to the official representatives of real estate agencies in TRNC, millions of pounds are invested in TRNC property by buyers from England, Scandinavia, and Russia.
Progress in the negotiation process as well as new property laws introduced by government, such as decrease of property tax, allowing foreign nationals to own up to 3 properties – had a positive effect on the increased property demand from foreigners.
The sales increased specifically in regions of Kyrenia (Girne), Famagusta, and Bogaz. Construction Contractors’ Union chairman Faik Dagasti said: “There are serious signs of property boom on the horizon, similar to what was experienced during the Annan Plan period”.
Between 2009 and 2012 the property sales have fallen significantly in Northern Cyprus, however recently the figures increased at least by 60% for each month. With average value of property between 100,000 and 120,000 GBP for a property, millions of pounds are being poured into the sector.
Share on social networks:
Northern Cyprus Property Market: A More Mature Market
The Northern Cyprus property market is evolving. After years of rapid growth, the market is becoming more mature while buyers are becoming more selective. Why is demand for completed properties increasing, which areas remain the most attractive, and what opportunities lie ahead for investors? AllianceNC reviews the key trends shaping the market in 2026.Northern Cyprus Real Estate, June 2026 – Key Market Highlights
North Cyprus: Property Market and Tourism Update – June 2026. The North Cyprus property market continues to evolve as it enters a more stable phase of growth. Which areas remain the most sought-after? What is happening in Iskele and Esentepe? How is tourism supporting property investment opportunities in 2026? Read AllianceNC's latest June market overview.North Cyprus Real Estate 2026: Property Prices, Rental Yields and Investment Guide.
North Cyprus Real Estate 2026: Property Prices, Rental Yields and Investment Guide.Rental Prices in North Cyprus Continue to Climb
Latest statistics reveal that apartment rental prices in the TRNC have increased by nearly 47% in Turkish Lira terms and around 24% in British Pounds over the past year. Kyrenia, Lefke and Iskele remain the most expensive regions, while rental properties priced in Turkish Lira are becoming increasingly difficult to find. Discover the latest market trends and regional rental price differences across North Cyprus.
