It concerns not only real estate. The prices are shown in pounds also for rental property, education, cars and so on. How come it happened?

The national currency of the Turkish Republic of Northern Cyprus is the Turkish lira. But, since Cyprus was a colony of the British Empire from 1915 to 1960, British pounds were in circulation here during that period. The currency was convertible and stable. Everyone loved it.

In general, the habit of indicating the price of expensive objects and services in British pounds has remained right from those times. Moreover, North Cyprus has also another British heritage: left-hand traffic, British-style sockets, affordable education according to English standards in private schools and universities with the opportunity to continue education in the UK.

The English language has also remained in the country as part of business etiquette. Every serious company has English-speaking employees. Most contracts are also concluded in English.

If it is more convenient for you to pay for real estate in US dollars or euros, rather than in British pounds, then, when booking an apartment, developers meet the wishes of their clients and recalculate the value of the real estate at the exchange rate on the day of purchase. This cost will be fixed in the contract. Some developers take things a step further and are ready to accept even cryptocurrency for payment. But, it depends on how you agree on.

Many foreigners buy real estate in Northern Cyprus for both living and investment purposes. Among them are the British, the Israelis, the Scandinavians, residents of Eastern Europe, and regions of the East and Asia.