Property Prices in Northern Cyprus: Market Overview at the Start of 2026

At the beginning of 2026, the Northern Cyprus property market appears more stable and structured than a year earlier. Compared with January 2025, overall conditions are calmer, with the market gradually moving out of the period of uncertainty and returning to a functional pace.

Following the stagnation of late 2024 and the first half of 2025, activity began to recover. A key factor was the legislative amendment introduced in May 2025, which restored the ability for foreign buyers to purchase more than one property. This change reduced tension across the market, improved confidence among sellers, and gradually brought buyers back.

Even during the winter season, transaction activity remains visible and clearly stronger than in the summer of 2024, when the outlook was widely perceived as critical. The market is moving again, albeit without sharp fluctuations.

Overall Market Dynamics

It would be premature to make bold forecasts; however, current indicators suggest that the Northern Cyprus property market has entered a phase of stabilisation and gradual recovery.

If the existing policy toward foreign buyers remains unchanged, demand throughout 2026 is expected to remain focused primarily on the affordable resale market, which already shows the highest level of activity.

It is also important to note that since mid-2024, resale prices have effectively returned to pre-2022 levels, rather than merely correcting from previous peaks. In a broader European context, this positions Northern Cyprus as one of the more accessible property markets in terms of entry price.

Property Prices: Key Reference Levels (January 2026)

The figures below reflect general starting prices and working ranges, without reference to specific locations and excluding rare below-market transactions.

Resale Market

Studios

 • starting prices: £45,000–£50,000 (often with unpaid taxes or transfer costs);

 • mid-range: £55,000–£65,000;

 • higher-quality units: from £80,000.

 

1-Bedroom Apartments (1+1)

 • occasional listings from £60,000–£65,000;

 • typical range: £70,000–£75,000;

 • well-positioned units: £85,000–£100,000.

 

2-Bedroom Apartments (2+1)

 • starting from £90,000–£95,000 (limited supply, fast turnover);

 • mid-range: £100,000–£120,000;

 • higher-quality properties: from £180,000–£200,000.

 

Houses, Townhouses and Bungalows

 • stable market segment from approximately £280,000;

 • lower-priced options generally require substantial renovation;

 • properties with significant compromises may be found in the £180,000–£220,000 range.

 

New Build Market

 • Studios: from £95,000–£100,000 (lower levels mainly during promotions);

 • 1-bedroom apartments: from £145,000;

 • 2-bedroom apartments: from £200,000–£220,000;

 • Houses: from £350,000–£400,000 and above.

The main advantage of the new build market remains interest-free payment plans. As of early 2026, instalment periods of up to 8–8.5 years are available for both under-construction and completed projects. In some cases, properties can be occupied or rented out during the payment period.

Regional Demand Overview

For orientation purposes, the market can be divided into three main areas:

Eastern Coast

Iskele, Yeni Bogazici, Bogaz, Famagusta

Northern Coast

Kyrenia, Alsancak–Lapta–Karsiyaka, Esentepe, Tatlisu

Western Coast

Gaziveren (coastal area of Guzelyurt)

As of early 2026, Kyrenia and Iskele remain the most active locations. These areas attract buyers both for permanent living — due to infrastructure, schools and healthcare — and for long-term rental purposes.

Esentepe and Tatlisu are generally viewed as medium-term, future-oriented locations. The area offers a high concentration of well-designed mid- and upper-mid-range projects, while infrastructure development is still ongoing.

Gaziveren remains the most controversial region. Even prior to the market correction, the area required a long development horizon.

Under current conditions, this timeframe extends to approximately 7–10 years, with limited demand and a narrow buyer profile.

Changes in Demand by Property Type

Over the past year, demand structure has shifted:

 • strongest demand is observed for 2- and 3-bedroom apartments;

 • 1-bedroom units maintain stable demand;

 • studios continue to sell but no longer act as the primary market driver.

This reflects the growing share of family buyers and long-term tenants who prioritise space and functionality.

Conclusion

The Northern Cyprus property market has already passed its weakest phase. Forced sales at any price are no longer a defining feature, and sellers are adjusting to more balanced pricing expectations. At the same time, the market remains far from overheating and continues to recover gradually.

If needed, pricing by specific districts, real transaction ranges, or purchase scenarios tailored to particular budgets and objectives can be reviewed individually.