The rental property market in the Turkish Republic of Northern Cyprus (TRNC) continues to experience significant growth, with average apartment rents increasing sharply over the past twelve months.

According to the latest data released by the Statistics Institute, the average monthly apartment rent reached 26,327 Turkish Lira in April 2026, compared to 17,974 TL recorded in April 2025. This represents an annual increase of 46.47%.

When measured in British Pounds, the preferred currency for many real estate transactions in North Cyprus, average rents rose from £348 to £431 per month, reflecting a yearly increase of approximately 24%.

The average rental value across the country now stands at £6.6 per square metre, equivalent to around 408 Turkish Lira.

Rental prices vary considerably between regions. Kyrenia remains the most expensive area, with average rental rates reaching £7.3 per square metre. Lefke follows at £6.9, while Iskele ranks third at £6.7. Nicosia records an average of £6.4 per square metre, followed by Famagusta at £5.6. Guzelyurt remains the most affordable region, with average rental costs of £5.5 per square metre.

Market analysts note that rental properties priced in Turkish Lira are becoming increasingly rare, as landlords continue to favour foreign currency-based contracts. This trend has contributed to ongoing rental growth despite expectations that the market would begin to stabilise.

After several months of relatively stable rental rates during the second half of 2025, prices denominated in British Pounds started rising again in early 2026. The renewed increase reflects strong demand for rental accommodation and a limited supply of quality residential properties across North Cyprus.