Introduction: Why Cyprus is Attractive for Property Buyers
The Mediterranean island of Cyprus has been attracting property investors and emigrants from Germany and other European countries for years with its pleasant climate, gorgeous beaches, and relaxed lifestyle. Especially for retirees, digital workers, and sun lovers, properties in Cyprus offer an attractive opportunity to acquire a holiday home, a permanent residence, or an investment.
The experiences with properties in Cyprus vary greatly—depending on whether you buy in the internationally recognized south (Republic of Cyprus) or in the north (Turkish Republic of Northern Cyprus), which is only recognized by Turkey. The political division of the island creates two completely different real estate markets with their own laws, price structures, and purchasing processes.
In this comprehensive article, we share properties in Cyprus experiences from both parts of the island. We highlight the advantages and disadvantages of buying property, analyze the price differences between Northern and Southern Cyprus, and provide practical tips on how to proceed when investing in Cypriot real estate. We pay particular attention to Northern Cyprus, which, with its significantly lower prices, represents a particularly attractive option for property buyers with a limited budget.
The Cyprus Real Estate Market Overview
The real estate market in Cyprus is characterized by the historical and political division of the island. After the Turkish intervention in 1974, the island was de facto divided into two parts: the Greek Cypriot south and the Turkish Cypriot north. This division is still reflected in the real estate market today.
The Real Estate Market in Southern Cyprus (Republic of Cyprus)
Southern Cyprus is a member of the European Union and the Eurozone, which offers international buyers a high level of legal security. The experiences with properties in Cyprus in the south are therefore generally positive with regard to legal aspects.
Property prices in Southern Cyprus:
- Apartments near the beach: €1,800-3,500/m²
- Villas with sea view: €2,500-5,000/m²
- Single-family houses inland: €1,500-2,800/m²
- Building plots: €250-800/m²
Popular regions in the south:
- Limassol: Known for its vibrant city life and modern high-rises
- Paphos: Popular with British emigrants, UNESCO World Heritage site
- Larnaca: Emerging region with attractive value for money
- Ayia Napa: Tourist hotspot with lively nightlife
The Real Estate Market in Northern Cyprus (Turkish Republic of Northern Cyprus)
Northern Cyprus is internationally recognized only by Turkey as an independent state. This leads, on one hand, to certain legal peculiarities when buying property, but on the other hand, to significantly lower prices. The properties in Cyprus experiences in the north are strongly influenced by these two factors.
Property prices in Northern Cyprus:
- Apartments near the beach: €800-1,800/m²
- Villas with sea view: €1,200-2,500/m²
- Single-family houses inland: €700-1,500/m²
- Building plots: €100-400/m²
Popular regions in the north:
- Kyrenia (Girne): The "Pearl of Northern Cyprus" with a picturesque harbor and mountain backdrop
- Famagusta (Gazimağusa): Historic city with breathtaking beaches
- Iskele: Emerging region with modern residential complexes
- Karpaz Peninsula: Untouched nature and rural living
Price Comparison: Northern vs. Southern Cyprus
The most striking difference in the properties in Cyprus experiences between north and south is the considerable price difference. Properties in Northern Cyprus are on average 40-60% cheaper than comparable properties in the south.
Examples of property prices in comparison:
| Property Type |
Northern Cyprus |
Southern Cyprus |
Savings |
| 2-bedroom apartment (70m²) near beach |
€60,000-120,000 |
€130,000-250,000 |
50-60% |
| 3-bedroom villa (120m²) with sea view |
€150,000-250,000 |
€300,000-600,000 |
50-60% |
| Village house in need of renovation |
€50,000-80,000 |
€100,000-200,000 |
50-60% |
| Building plot (500m²) |
€50,000-120,000 |
€120,000-350,000 |
60-70% |
These significant price differences make Northern Cyprus particularly attractive for:
- Buyers with a limited budget
- Investors focusing on value appreciation
- Retirees looking to optimize their savings
- Emigrants who want to afford more living space
Legal Aspects of Buying Property in Cyprus
The experiences with properties in Cyprus show that the legal aspects in particular should be carefully examined. There are major differences between north and south.
Legal Aspects in Southern Cyprus
As an EU member, Southern Cyprus offers a familiar legal environment:
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Purchase process: The purchase takes place in several steps, starting with a reservation contract, followed by the sales contract and the transfer of ownership.
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Title deeds: The land registry system is well developed, and title deeds offer high legal security.
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Additional purchase costs: The additional purchase costs amount to about 8-10% of the purchase price, including property transfer tax (3-8%, depending on the value), lawyer and notary fees (1-2%), and land registry entry.
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Restrictions for foreigners: EU citizens can easily buy property, but are only allowed to acquire one property (house or apartment plus optionally a small shop or office).
Legal Aspects in Northern Cyprus
The legal situation in Northern Cyprus is more complex, but quite manageable with the right advice:
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Purchase process: Similar to the south, but with additional approvals from various authorities.
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Title deeds: There are different types of ownership rights:
- TRNC Title (newly issued titles after 1974)
- Pre-74 Title (title deeds from before 1974)
- Esdeger Title (compensation titles for Turkish Cypriots for property left behind in the south)
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Additional purchase costs: The additional purchase costs are lower than in the south and amount to about 5-7% of the purchase price.
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Restrictions for foreigners: Foreigners are allowed to acquire a property with a plot of land of up to one donum (about 1,338 m²).
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Special feature - property issues from before 1974: For some properties, there could theoretically be claims from former Greek Cypriot owners. To minimize this risk, buyers should:
- Hire a specialized lawyer
- Prefer properties with a clear ownership history
- Check the property insurance of the property development project
- Take out additional title insurance in case of uncertainty
The properties in Cyprus experiences show that with the right legal advice, a secure property purchase is also possible in Northern Cyprus. Thousands of European buyers have already successfully invested in the Northern Cypriot real estate market and benefit from the favorable prices and the unspoiled beauty of this region.
The Most Popular Regions for Property Buyers in Northern Cyprus
The experiences with properties in Cyprus show that choosing the right location is crucial for long-term satisfaction with your purchase. In Northern Cyprus, several regions have proven particularly popular with international buyers.
Kyrenia (Girne) and Surroundings
With its picturesque harbor, impressive mountain backdrop, and well-developed infrastructure, Kyrenia is the heart of the Northern Cypriot real estate market.
Popular areas:
- Center of Kyrenia: Historical charm, but higher prices
- Alsancak: West of Kyrenia, popular with families, good infrastructure
- Esentepe/Bahceli: East of Kyrenia, quieter, closer to nature, booming
- Karsiyaka/Lapta: West of Kyrenia, beautiful coastal landscape
Prices in Kyrenia:
- Apartment (2 bedrooms): €70,000-140,000
- Villa with pool: €150,000-350,000
- Luxury properties: from €400,000
Advantages:
- Best infrastructure in Northern Cyprus
- Lively year-round
- International community
- Wide range of restaurants and leisure opportunities
Famagusta (Gazimağusa) and Surroundings
Famagusta impresses with its rich history, the impressive old town, and some of the most beautiful beaches on the island.
Popular areas:
- Famagusta city center: Historical flair, near university
- Long Beach/Iskele: Emerging region with new development projects
- Bogaz: Quiet fishing village with charm
- Trikomo/Yeni İskele: Modern center with many new construction projects
Prices in Famagusta:
- Apartment (2 bedrooms): €60,000-120,000
- Villa with pool: €140,000-280,000
- Luxury properties: from €350,000
Advantages:
- Lower prices than in Kyrenia
- Beautiful beaches
- University city with international flair
- Good potential for value appreciation
Karpaz Peninsula
The Karpaz Peninsula, often referred to as the "Panhandle," is the most unspoiled part of Cyprus with spectacular nature and deserted beaches.
Popular areas:
- Dipkarpaz: The last major village before the national park
- Yenierenköy: Development focus on the peninsula
- Coastal sections: Scattered new development areas near the beach
Prices on the Karpaz Peninsula:
- Apartment (2 bedrooms): €50,000-90,000
- Villa with pool: €120,000-230,000
- Traditional village house: €40,000-100,000
Advantages:
- Lowest prices in Cyprus
- Untouched nature
- Quiet, authentic atmosphere
- Great potential for future development
Types of Properties in Cyprus
The properties in Cyprus experiences show that there are different types of properties that may be suitable depending on personal preferences and budget.
Apartments and Flats
Apartments are a popular choice for:
- Individuals and couples
- Buyers with a limited budget
- Investors looking to rent
- People looking for a low-maintenance property
Advantages:
- Lower acquisition and maintenance costs
- Often in residential complexes with communal pool and garden
- Less maintenance effort
- Higher security
Prices in Northern Cyprus:
- Studio: €40,000-70,000
- 1-bedroom apartment: €50,000-90,000
- 2-bedroom apartment: €70,000-130,000
- Luxury apartment: from €140,000
Villas and Houses
Villas and detached houses are ideal for:
- Families
- People who value space and privacy
- Long-term stays or permanent emigration
- Buyers who want their own pool and garden
Advantages:
- More space and privacy
- Own garden and often own pool
- More design freedom
- Better suited for permanent living
Prices in Northern Cyprus:
- Small villa (2 bedrooms): €120,000-180,000
- Medium-sized villa (3-4 bedrooms): €180,000-280,000
- Luxury villa: from €300,000
Traditional Village Houses
Traditional village houses have a special charm and offer:
- Authentic Cypriot life
- Often lower prices
- Characterful ambience with historical elements
- Integration into local communities
Advantages:
- Lower prices
- Authentic living
- Often thick walls (good for air conditioning)
- Historical charm
Prices in Northern Cyprus:
- Village house in need of renovation: €40,000-80,000
- Renovated village house: €80,000-150,000
- Luxuriously renovated historic house: from €180,000
Advantages and Disadvantages of Buying Property in Northern Cyprus
The experiences with properties in Cyprus in the northern region show both clear advantages and some challenges that potential buyers should consider.
Advantages of Buying Property in Northern Cyprus
-
Significantly lower prices
- 40-60% cheaper than in the south
- More property for your money
- Even luxury properties are affordable
-
Lower cost of living
- Lower utility costs
- Cheaper restaurants and shopping opportunities
- Lower property tax and insurance costs
-
Less crowded beaches and landscapes
- Untouched nature
- Less mass tourism
- More authentic experience
-
Growing international community
- Increasing number of international residents
- Many English-speaking services
- Active expat communities
-
Investment potential
- Rising property prices in recent years
- Potential for above-average value appreciation
- Good rental yields (especially for holiday rentals)
Challenges When Buying Property in Northern Cyprus
-
Legal peculiarities
- More complex legal situation than in the south
- Need for a specialized lawyer
- Careful examination of title deeds required
-
International recognition
- Northern Cyprus is only recognized by Turkey
- Direct flights only via Turkey
- Potential political uncertainty
-
Infrastructure
- Less developed than in the south
- Limited public transport
- Some services less available
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Language barrier
- Turkish as the main language
- English less widely spoken than in the south
- Official documents mostly in Turkish
The properties in Cyprus experiences show that for most buyers, the advantages clearly outweigh the challenges. With the right advice and preparation, the challenges can be well managed.
Practical Guide to Buying Property in Northern Cyprus
Based on numerous properties in Cyprus experiences, we have compiled a practical guide for buying property in Northern Cyprus.
Step 1: Planning and Research
Before looking for properties, you should:
- Set your budget
- Define your requirements for the property
- Learn about different regions
- Research legal basics
- Check financing options
Step 2: On-Site Exploration
A trip to Northern Cyprus is essential to:
- Explore different regions
- Experience the atmosphere of the places
- View properties in person
- Meet local real estate agents
- Talk to expats and locals
Step 3: Property Search and Viewing
When searching for property, you should:
- Contact multiple real estate agents
- View different properties
- Explore the surroundings at different times of day
- Check infrastructure and shopping opportunities
- For new development projects, look at other projects by the developer
Step 4: Legal Review and Purchase Processing
After selecting a property:
- Hire an independent lawyer
- Have the ownership conditions checked
- Negotiate the purchase price
- Sign a reservation contract
- Apply for a purchase permit from the Council of Ministers
Step 5: Contract Signing and Payment
The purchase process includes:
- Signing a binding purchase contract
- Payment of the agreed deposit (usually 30-40%)
- Application for a tax number
- Opening a local bank account
- Payment of additional purchase costs
Step 6: Transfer of Ownership and Handover
The completion of the purchase includes:
- Payment of the remaining amount
- Signing the property transfer documents
- Registration in the land registry
- Handover of the keys
- Transfer of utility contracts (electricity, water, etc.)
The Importance of an Exploratory Stay Before Buying Property
The experiences with properties in Cyprus clearly show: An extended exploratory stay before buying property is essential for an informed decision. There are numerous aspects that can only be properly assessed on-site.
What You Can Only Assess On-Site
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The atmosphere of the different regions
- Each region has its own character
- Some places are quiet, others more lively
- The personal fit can only be felt on-site
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The actual quality of properties
- Construction quality and materials
- Condition of the property
- Noise levels at different times of day
- Neighborhood and surroundings
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Infrastructure and everyday practicality
- Distance to shopping facilities
- Availability of doctors and medical care
- Leisure opportunities nearby
- Public transport or necessity of a car
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Contact with local experts and communities
- Conversations with real estate agents and lawyers
- Exchange of experiences with established expats
- Getting to know the local community
- Building a first social network
LongStay Cyprus: The Ideal Way to Get to Know Northern Cyprus Before Buying Property
To thoroughly get to know Northern Cyprus before buying property, the LongStay Cyprus packages offer an ideal opportunity. These specially designed long-term stays allow you to experience Northern Cyprus from different perspectives and make an informed decision.
The Benefits of a LongStay Cyprus Stay:
- Flexible stay duration of 30, 56, or 80 days – sufficient time to explore different regions
- Comfortable accommodations in hotels or apartments
- Extensive excursion programs to explore different parts of the island
- Guided activities to get to know the culture and everyday life
- Contacts with local real estate experts
- Meetings with the expat community
- Opportunity to compare different regions
A LongStay Cyprus stay offers you the opportunity to experience Northern Cyprus not as a tourist, but as a potential resident. You can test everyday life, explore different regions, and find out if Northern Cyprus is really right for you before making the significant investment of a property purchase.
The special bonus: The LongStay Cyprus programs also include excursions to the south of the island, so you can compare both parts of Cyprus to make the best decision for you.
Investment Potential: Why Now is a Good Time to Buy
Current properties in Cyprus experiences show that Northern Cyprus currently offers a particularly attractive investment potential. Several factors indicate that now is a favorable time to enter the market.
Growing Demand and Price Development
The real estate market in Northern Cyprus has shown positive development in recent years:
- Continuous price increase of an average of 5-10% per year
- Growing international demand, especially from the UK, Germany, and Scandinavian countries
- Increasing popularity as an affordable alternative to classic Mediterranean destinations
Infrastructure Development and Expansion Projects
Numerous infrastructure projects are increasing the attractiveness of Northern Cyprus:
- Expansion of the road network
- Modernization of the water supply
- New marina projects in Kyrenia and Famagusta
- Development of new shopping and leisure centers
Tourist Development
Growing tourism supports the positive development of the real estate market:
- Increasing visitor numbers annually
- New hotel developments
- Expansion of Ercan Airport
- Improved ferry connections to Turkey
Potential for Rental Income
Property owners in Northern Cyprus can benefit from attractive rental yields:
- Holiday rentals: 6-10% gross yield possible
- Long-term rentals: 4-7% gross yield
- Growing demand for holiday accommodations
- Longer season due to mild climate
Practical Tips Based on Real Experiences
From numerous properties in Cyprus experiences of buyers, we have compiled practical tips that can help you avoid typical mistakes.
Tips for Property Search
-
Take your time
- Visit Cyprus multiple times in different seasons
- Don't rush, compare many properties
- Get to know different regions
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Work with multiple agents
- Contact different real estate agents
- Compare offers and prices
- Use the local expertise of the agents
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Thoroughly check the surroundings
- Visit the surroundings at different times of day
- Pay attention to noise, traffic, and neighborhood
- Check the distance to important facilities
Tips for Legal Protection
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An independent lawyer is a must
- Hire your own, independent lawyer
- Choose a lawyer with experience in Northern Cypriot real estate law
- Don't shy away from the costs for thorough legal review
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Careful examination of ownership conditions
- Insist on a complete title deed check
- Have the history of the property investigated
- Prefer properties with a clear ownership history
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All agreements in writing
- Have all promises and agreements put in writing
- Review contracts thoroughly with your lawyer
- Question unclear contract clauses
Tips for Financing
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Clarify financing in advance
- Check your financing options before searching for property
- Compare different financing options
- Consider that banks in Northern Cyprus do not always offer mortgages to foreigners
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Consider currency fluctuations
- The Turkish Lira can be subject to strong fluctuations
- Many properties are offered in Euros or British Pounds
- Additional costs, however, often occur in Turkish Lira
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Plan a liquidity reserve
- Plan a reserve for unforeseen costs
- Consider renovation and furnishing costs
- Calculate ongoing costs realistically
Tips for the Time After Purchase
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Local management
- Organize reliable property management in case of absence
- Establish contacts with trustworthy craftsmen
- Take out good building insurance
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Integration into the community
- Make an effort to establish contacts with neighbors and locals
- Learn basic Turkish knowledge
- Participate in local events
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Legal updates
- Keep your will up to date and consider local inheritance laws
- Regularly check changes in tax law
- Complete annual official requirements on time
Case Studies: Successful Property Purchases in Northern Cyprus
To illustrate the properties in Cyprus experiences, we look at some typical and successful property purchases in Northern Cyprus.
Case Study 1: Retired Couple from Germany
A German retired couple in their mid-60s acquired a 2-bedroom villa in Esentepe, east of Kyrenia, for €170,000. The villa has its own pool, sea view, and is located in a well-maintained residential complex with predominantly British and German owners.
Motivations:
- Desire for a milder climate in the winter months
- Significantly lower cost of living than in Germany
- Love for Cypriot culture and cuisine
Approach:
- Three exploratory trips to Cyprus over a period of 18 months
- Comparison of several regions in the north and south
- Hiring a specialized lawyer
- Thorough examination of the title deeds
- Cash purchase without financing
Result:
- The villa serves as a winter domicile (October to April)
- In summer, the property is successfully rented to tourists
- A local management company takes care of the rental and maintenance
Case Study 2: Family with Remote Work Possibility
A family of four (parents in their early 40s, two primary school-age children) bought a renovated traditional village house in a small village near Famagusta for €135,000. The house has 3 bedrooms, a small garden, and a courtyard.
Motivations:
- Home working possibility of the father (IT industry)
- Desire for rural surroundings and more space
- Learning a new language and culture for the children
Approach:
- One-month trial stay in different regions of Northern Cyprus
- Intensive research on international schools
- Careful check of the internet connection (crucial for home working)
- Hiring an architect to check the building substance
Result:
- The family lives permanently in Northern Cyprus
- The children attend an international school in Famagusta
- The cost of living is about 40% lower than in Germany
Case Study 3: Investor from Austria
An Austrian businessman acquired four 1-bedroom apartments in a new residential complex in Long Beach/Iskele for a total of €220,000 (approx. €55,000 per unit). The residential complex has several communal pools, direct beach access, and on-site restaurants.
Motivations:
- Pure capital investment with a focus on value appreciation and rental income
- Diversification of the investment portfolio
- Lower entry barrier than in other Mediterranean countries
Approach:
- Collaboration with an experienced property investor on-site
- Focus on an emerging region with development potential
- Thorough market analysis and comparison of different projects
- Negotiation of a discount for the purchase of multiple units
Result:
- Rental of the apartments to tourists in the high season
- Long-term rental to expats in the off-season
- Gross yield of about 8% per year
- Value appreciation of the properties by approx. 15% within two years
These case studies show that successful properties in Cyprus experiences are possible with different objectives – be it as a holiday home, permanent residence, or capital investment.
Getting to Know Cyprus: The First Step to a Successful Property Purchase
The experiences with properties in Cyprus clearly show: The key to a successful property purchase lies in thorough preparation and intensive familiarization with the island. A hasty purchase often leads to disappointments, while a well-considered decision after extensive exploration leads to long-term satisfaction.
The Importance of an Extended Stay
A short holiday of one or two weeks is not enough to really get to know Cyprus. To make an informed property decision, you should:
- Experience different seasons: Some places are crowded in summer, but very quiet in winter
- Get to know everyday life: Shopping facilities, leisure opportunities, healthcare
- Talk to locals and expats: First-hand experiences are invaluable
- Compare different regions: Each part of the island has its own character
LongStay Cyprus: The Ideal Preparation for Property Buyers
LongStay Cyprus offers specially designed long-term stays that are perfect for potential property buyers. These stays allow you to thoroughly explore Northern Cyprus and make an informed decision before investing in a property.
Tailored Long-Term Stays
The LongStay Cyprus programs include:
- Flexible stay duration of 30, 56, or 80 days
- Comfortable accommodation in hotels or apartments
- Guided excursions to different parts of the island
- Cultural activities for a deeper understanding of the country
- Visits to property projects (on request and without sales pressure)
- Contacts with local experts such as lawyers and property advisors
- Meetings with the expat community
Benefits of a LongStay Cyprus Stay
Such an exploratory stay offers numerous benefits for potential property buyers:
- Stress-free exploration: Explore and compare different regions without pressure
- Authentic insights: Experience real everyday life in Cyprus, not just the holiday perspective
- Network building: Establish important contacts with expats, locals, and professionals
- Cost-effective exploration: Cheaper than multiple individual trips
- Comprehensive support: Support from experienced guides and expats
From Exploratory Stay to Property Purchase
Many participants of the LongStay Cyprus programs decide to buy a property in Northern Cyprus after their stay. The advantage: They make this decision based on personal experiences and realistic impressions, not based on idealized notions.
The contacts established during the stay often prove invaluable for the purchase process and later integration into the local community.
Conclusion: Successful Property Purchase Through Thorough Preparation
The properties in Cyprus experiences clearly show: Northern Cyprus offers exceptional opportunities for property buyers with a limited budget who want to benefit from a Mediterranean climate, low cost of living, and a relaxed lifestyle.
The price differences compared to Southern Cyprus and other popular Mediterranean destinations are considerable, making Northern Cyprus an attractive destination for retirees, digital workers, and investors. With affordable apartments from €50,000 and villas from €150,000, the dream of a Mediterranean home is within reach for many people here.
The legal peculiarities in Northern Cyprus do require a careful approach and professional advice, but with the right support, they do not present an insurmountable obstacle. Thousands of European buyers have already successfully invested in the Northern Cypriot real estate market.
However, the most important success factor for buying property in Cyprus is thorough preparation and intensive familiarization with the island before buying. An extended exploratory stay, as offered by LongStay Cyprus, is the best investment you can make before the actual property purchase.
Are you ready to get to know Northern Cyprus as a potential location for your dream property?
Request a Non-binding Offer
Design your long-term stay according to your wishes: Simply select your preferred hotel, the number of excursions, and other options on our website and receive an immediate non-binding offer. This way, you can decide for yourself whether Northern Cyprus is the right place for your property investment.
