According to the MAPREX analytical system, 3-bedroom (3+1) housing is the 4th most popular type of housing in Northern Cyprus by number of bedrooms (after studios, 1-bedroom and 2-bedroom housing). Its share is 5.4% of the total number of housing under construction. As of the beginning of November 2024, 1 875 units 3+1 are in the active phase of construction [1], of which 796 are available for purchase (42%). Of the 1875 3+1 units under construction, about 57% are apartments (1 066 units) and 43% are houses (809 units).
Number of 3+1 units under construction by housing type
About 60% of 3+1 units under construction have an area (gross covered area) from 100 to 200 sq. m, another 28% - from 200 to 300 sq. m, less than 5% of units have an area of up to 100 sq. m.
Number of 3+1 units under construction by total area, sq. m
Three-bedroom units are available in 107 residential complexes being built by 37 developers. In 2024 sales of 3+1 units started in 11 new complexes: Aventus Residence, Casa di Pietra, Class 8, Dolce Mare, Esentepe Exclusive, Esentepe Hills, Karpaz Peninsula 2, Panorama Homes, Phuket Health and Wellness - Phase 3, Rosedale Extended, Vavilia Serenity, Vita Nova, Vita Nova - Phase 2.
The largest developer by number of 3+1 units under construction is Afik (297 units, followed by Noyanlar (248 units) and Döveç (171 units).
TOP 10 developers by number of units under construction (3+1):
- Afik - 297 units
- Noyanlar – 248 units
- Döveç – 171 units
- Northernland – 113 units
- Ardem – 96 units
- Evergreen Developments – 94 units
- Uzun Group – 85 units
- Akacan – 73 units
- Akol – 68 units
- Tremeseli Holding – 58 units
The largest complex under construction with the largest number of 3+1 units is Olea Cyprus developer Noyanlar (180 units 3+1 in total, of which 34 are sold, 97 are on sale).
The largest complexes (top 10) under construction, by the number of 3+1 units under construction
More than half of the 3+1 units under construction will be delivered in 2026-2027:
- 38% will be delivered in 2026
- 23% - in 2025
- 23% – in 2024
- 16% – in 2027
Number of 3+1 units under construction by year of completion, number of units and %
More than 43% of all construction projects are located in Iskele (a total of 809 3+1 units are being built here), of which more than 40% are located in Long Beach (331 units). The leader in the number of 3+1 units on sale is also Long Beach (155 units), followed by Geçitkale, Famagusta (97 units) and Esentepe, Kyrenia (84 units on sale).
Location of complexes with 3+1 units for sale
Note: The size of the circle corresponds to the number of units on sale 3+1
At the beginning of November 2024, the unit sellout level is 3+1 compiled 47%, however this figure varies significantly depending on the location:
- Long Beach: 46% (331 units under construction, 155 units on sale)
- Geçitkale: 28% (180 under construction, 97 units on sale)
- Esentepe: 42% (165 under construction, 84 units on sale)
- Kalecik: 39% (202 under construction, 56 units on sale)
- Küçük Erenköy: 36% (171 under construction, 55 units on sale)
- Girne Merkez: 54% (109 under construction, 48 units on sale)
Number of 3+1 units under construction, on sale and sell-out rate by region, number of units and %
Price range
31% of all 3+1 units available for purchase at the beginning of November 2024 are in the price range from £300 000 to £400 000, with a minimum cost of £81000 (3+1 apartments with an area of 72 sq. m. from developer Noyanlar in the complex Olea Cyprus) and maximum – 3 million pounds (3+1 penthouse with an area of 564 sq. m. from the developer Akacan in the Premium complex).
Distribution of 3+1 units by price range, thousands of pounds, %
Price dynamics
Over the past 10 months (since the start of 2024), the median price of a 3+1 apartment has fluctuated between £269 000 at the start of the year and £326 000 in October. In Q3 2024, compared to Q1, the median price of 3+1 units increased by more than 20%.
Median price of 3+1 houses was stable in January-October 2024 and fluctuated in a small range from 415 to 430 thousand pounds.
Median price of 3+1 units (apartments and houses) by month in 2024, thousands of pounds
The cost of apartments and 3+1 houses is primarily determined by the location of the complex, as well as the availability of infrastructure.
The most expensive complexes with 3+1 units are located mainly on the northern coast of the island – in Küçük Erenköy, Esentepe and Tatlisu.
TOP 10 most expensive complexes where you can buy 3+1 units, by median cost per unit:
|
Developer |
Residential complex |
Median price, GBP |
Region |
District |
|
Cyprus Constructions |
Phuket Health and Wellness - Phase 1 |
2 100 000 |
Famagusta |
Küçük Erenköy |
|
Döveç |
La Casalia |
2 057 000 |
Famagusta |
Küçük Erenköy |
|
Cyprus Constructions |
Mykonos Homes |
1 850 000 |
Kyrenia |
Esentepe |
|
Uzun Group |
Sky Deluxia Life |
1 725 000 |
Iskele |
Long Beach |
|
Cyprus Constructions |
Hawaii Homes |
1 500 000 |
Famagusta |
Tatlisu |
|
Northernland |
Casa Del Mare - Villas |
1 430 000 |
Kyrenia |
Esentepe |
|
Kayim Development Group |
Aelita Garden Resort |
1 122 500 |
Kyrenia |
Esentepe |
|
Cyprus Constructions |
Phuket Health and Wellness - Phase 3 |
1 072 500 |
Famagusta |
Küçük Erenköy |
|
Cyprus Constructions |
Phuket Health and Wellness - Phase 2 |
748 000 |
Famagusta |
Küçük Erenköy |
|
Akacan |
Akacan Shopping Mall & Residence |
700 000 |
Kyrenia |
Girne Merkez |
The cheapest complexes with 3+1 units are located mainly in the areas of Famagusta and in close proximity to the city: Çanakkale, Geçitkale, Tuzla, Yeni Boğaziçi, etc. - on the coast of the Gulf of Famagusta (Mağusa Körfezi) on the south-eastern coast of the island.
TOP 10 most inexpensive residential complexes where you can buy 3+1 units, by median cost per unit:
|
Developer |
Residential complex |
Median price, GBP |
Region |
District |
|
Noyanlar |
Olea Cyprus |
114 000 |
Famagusta |
Geçitkale |
|
Erbatu |
Class 8 |
145 900 |
Famagusta |
Çanakkale |
|
Kavanlar Yapi |
Kavan city2 |
155 000 |
Kyrenia |
Alsancak |
|
Nurel Group |
Melis |
156 000 |
Kyrenia |
Karaoğlanoğlu |
|
Halken İnşaat |
Casa di Pietra |
175 000 |
Famagusta |
Yeni Boğaziçi |
|
Halken İnşaat |
Vita Nova - Phase 2 |
175 400 |
Famagusta |
Tuzla |
|
Carrington Group |
Elite Residence |
194 950 |
Kyrenia |
Girne Merkez |
|
Noyanlar |
La Palazzo |
195 500 |
Iskele |
Kalecik |
|
Afik |
Caesar Resort 8 |
199 780 |
Iskele |
Long Beach |
|
Akdam Construction |
Kilic Life |
208 340 |
Famagusta |
Yeni Boğaziçi |
Sales dynamics
In October 2024, the sales balance (sales minus returns) amounted to 11 units of 3+1, which is the lowest monthly figure since the beginning of 2024. Most units were sold in Premium complexes (developer - Akacan) - 3 units, Olea Cyprus (developer – Noyanlar) – 2 units and Hanging Gardens Village (developer – Baştaşlar Construction) – 2 units. Taking into account the units that returned to sale, net sales amounted to only 16 units.
Number of net sales (sales minus returns) of 3+1 units by month in 2024, number of units (apartments and houses)
Note: In April 2024, 44 units of 3+1 apartments in the Olive Court complex (developer – Dörter Construction) were put back on sale.
The 3+1 Unit Report can be downloaded for free at this link.
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[1] In addition, there are 17 3+2 units under construction, 3 units of which are on sale. Only 3+1 units are analyzed below.