News
-
According to analysis, by July 2023, Cyprus started to see fewer real estate sales contracts. In Q2, the total number of transactions amounted to £1.55 billion ($2 billion), while in Q1 2023 and Q4 2022, this figure was £1.72 billion ($2.23 billion). The decline was caused by several factors: inflation, rising bank rates, and...
Read more -
Experts from Northern Cyprus predict further growth of the local real estate market in the second half of this year. The key factors that will facilitate this are high demand from overseas investors, the emergence of new projects, and the government’s soft tax policy. Let’s take a closer look at them. Since June 2022, average property prices have...
Read more -
In Kyrenia District (the Turkish name is Girne), sales of the fifth phase of the Sea Magic Garden project, a luxurious residential development a 15-minute drive from the administrative centre, have started. The development consists of several two-storey houses, featuring one- and two-bedroom apartments. All units have access to private terraces,...
Read more -
Experts analysed the rental real estate market in Northern Cyprus and presented the average statistical data both for the republic and its individual regions. In June 2023, the average price of a rental unit reached £5.41 ($7) per square metre. This is 49% higher than in June 2022. Over three years, the growth of rent amounted to 68%, and over the...
Read more -
Real estate market analysts have published statistical data on Northern Cyprus. According to the report, prices for local properties reached a maximum in the last five years (monitored since 2018). By the summer of 2023, the cost per square metre crossed the mark of £1,000 ($1,290). In June 2023, the average price per square metre in the apartment...
Read more
- 1
- 2