According to the MAPREX analytical system, housing with 4 or more bedrooms (4/5/6) is the least popular type of housing in Northern Cyprus in terms of the number of bedrooms. Its share is only 1.4 % of the total number of housing under construction. As of the beginning of December 2024, 495 are in the active phase of construction units with 4 or more bedrooms, of which 222 are available for purchase (45%). Of the 495 units of housing under construction with 4 or more bedrooms (mainly 4+1 – almost 90%), about 2/3 are houses (328 units), mainly villas, and a third are apartments (167 units).
Number of units with 4 or more bedrooms under construction by housing type
More than a third (37%) of those being built have 4 or more bedrooms units have an area (gross covered area) from 200 to 300 sq. m, another 22% - from 300 to 400 sq. m, less than 5% of units have an area of up to 150 sq. m.
Number of units with 4 or more bedrooms under construction, by total area, sq. m
Units with 4 or more bedrooms are presented in 55 residential complexes, which are being built by 30 developers. In 2024, sales of units with 4 or more bedrooms began in 11 new complexes: Aventus Residence, Bosphorus - Phase 1, Casa di Pietra, Dolce Mare, Panorama Homes, Phuket Health and Wellness - Phase 3, Solea, Solmaris, Vavilia Serenity.
Largest developer by number of units under construction with 4 or more bedrooms – Afik (59 units, followed by Evergreen Developments (44 units) and Northernland (39 units).
TOP 10 developers by number of units under construction (with 4 or more bedrooms):
- Afik – 59 units
- Evergreen Developments – 44 units
- Northernland – 39 units
- Döveç – 35 units
- Noyanlar – 29 units
- Ozyalcin Group – 29 units
- Omağ Development – 26 units
- Ardem – 22 units
- Kavanlar Yapi – 21 units
- Aderans Construction – 20 units
Largest complex under construction with the largest number of units with 4 or more bedrooms – Bosphorus - Phase 1 by Evergreen Developments (28 units with 4 or more bedrooms total, of which 2 are in reserve, 26 are N/A).
Largest complexes (top 10) under construction, by number of units under construction with 4 or more bedrooms
Most units under construction are with 4 or more bedrooms will be delivered in 2026:
- 39% will be delivered in 2026
- 32% – in 2024
- 13% - in 2025
- 10% – in 2027
- 6% - in 2028
Number of units with 4+ bedrooms under construction by year of completion, number of units and %
Almost half (48%) of all properties under construction are in Kyrenia (a total of 238 units with 4 or more bedrooms are being built here), followed by Iskele (162 units) and Famagusta (95 units). The leader in terms of the number of units with 4 or more bedrooms for sale is also Kyrenia (98 units), followed by Iskele (71 units, of which 30 are in Long Beach) and Famagusta (44 units for sale). All complexes under construction with units with 4 or more bedrooms are concentrated in 3 regions of Northern Cyprus (Kyrenia, Iskele and Famagusta), in the other 3 regions there are no complexes under construction with 4 or more bedrooms.
Location of developments with units of 4 or more bedrooms available for sale
Note: The size of the circle corresponds to the number of units with 4 or more bedrooms for sale.
As of early December 2024, the sellout rate for units with 4 or more bedrooms compiled 40 %, however this figure varies significantly depending on the location:
- Long Beach: 32% (53 units under construction, 30 units for sale)
- Tatlisu: 7% (55 under construction, 29 units for sale)
- Esentepe: 56% (45 under construction, 16 units for sale)
- Ozanköy: 41% (39 under construction, 16 units for sale)
- Çatalköy: 67% (30 under construction, 11 units for sale)
- Yarköy: 0% (28 under construction, 0 units for sale)
Number of 4+ bedroom under construction units for sale and sold out rate by region, units and %
Price range
25 % of all units with 4 or more bedrooms available for purchase at the start of December 2024 are in the £1 000 000+ price range, with a further 23% in the £600 000-£800 000 range and £800 000-£1 000 000+ range. The minimum cost of units with 4 or more bedrooms is £274.9K (4+1 apartments with an area of 244/261 sq. m from the developer Panah Construction in the complex Aventus Residence), maximum – £3.3 million (penthouses 4+1 (600 sq. m from developer Northernland in the Grand Sapphire Blu complex).
Distribution of units with 4+ bedrooms by price range, thousands of pounds, %
Price dynamics
Over the past 11 months (since the beginning of 2024), the median price of apartments with 4+ bedrooms ranged from £750K at the start of the year to £861K in July/August, and stood at £850K as of November 2024. In June 2024, compared to Q1, the median price of units with 4+ bedrooms increased by more than 10%, which is primarily due to changes in the structure of supply, rather than to real price increases.
Median price of homes with 4 or more bedrooms in January-November 2024 and fluctuated in the range from £640K to £799K and as of November 2024 amounted to £796K.
Median price of units with 4 or more bedrooms (apartments and houses) by month in 2024, thousands of pounds
The cost of apartments and houses with 4 or more bedrooms is primarily determined by the location of the complex, as well as the availability of infrastructure.
The most expensive complexes with units with 4 or more bedrooms are located mainly on the northern coast of the island - in Küçük Erenköy and Esentepe.
TOP 10 most expensive complexes where you can buy units with 4 or more bedrooms, at a median price per unit:
|
Developer |
Residential complex |
Median price, GBP |
Location |
|
Northernland |
Grand Sapphire Blu |
3 150 000 |
Long Beach, Iskele |
|
Döveç |
Natulux |
2 270 000 |
Küçük Erenköy, Famagusta |
|
Northernland |
Casa Del Mare - Villas |
2 200 000 |
Esentepe, Kyrenia |
|
Kayim Development Group |
Aelita Garden Resort |
1 945 000 |
Esentepe, Kyrenia |
|
Noyanlar |
Solmaris |
1 900 000 |
Boğaz, Iskele |
|
Emtan Construction |
Spectra |
1 474 500 |
Lapta, Kyrenia |
|
Cyprus Constructions |
Phuket Health and Wellness - Phase 3 |
1 457 500 |
Küçük Erenköy, Famagusta |
|
Omağ Development |
Bellapais Villas |
1 425 000 |
Bellapais, Kyrenia |
|
Baştaşlar Construction |
Wonder Stones Village |
1 112 375 |
Esentepe, Kyrenia |
|
Omağ Development |
Sueno Villas |
1 065 000 |
Arapköy, Kyrenia |
The cheapest complexes with units with 4 or more bedrooms are located mainly in the areas of the city of Famagusta and in close proximity to the city: Tuzla, Yeni Boğaziçi, etc. - on the coast of the Gulf of Famagusta (Mağusa Körfezi) on the south-eastern coast of the island.
TOP 10 cheapest residential complexes where you can buy units with 4 or more bedrooms, by median price per unit:
|
Developer |
Residential complex |
Median price, GBP |
Location |
|
Panah Construction |
Aventus Residence |
277 900 |
Yeni Erenköy, Iskele |
|
Halken İnşaat |
Casa di Pietra |
365 000 |
Yeni Boğaziçi, Famagusta |
|
Kavanlar Yapi |
Panorama Homes |
382 815 |
Tatlisu, Famagusta |
|
Uzun Group |
Lotus Villas |
408 000 |
Tuzla, Famagusta |
|
Afik |
Blue Line Villas |
425 000 |
Dipkarpaz, Iskele |
|
Omağ Development |
Vavilia Serenity |
455 000 |
Karşıyaka, Kyrenia |
|
Tremeseli Holding |
Rosedale Villas |
455 700 |
Yeni Boğaziçi, Famagusta |
|
Ardem |
Paradise Villas 2 |
470 000 |
Ozanköy, Kyrenia |
|
Afik |
Caesar Resort 6 |
495 000 |
Long Beach, Iskele |
|
Rafael Construction |
Rafael's VIP Beach Club Resort |
525 000 |
Tatlisu, Famagusta |
Sales dynamics
In November 2024, the sales balance (sales minus returns) of housing with 4 or more bedrooms was only 4 units (range from +1 in March to +22 units in June). For comparison, in October 2024 (excluding 18 units in the complex My House - Premier by developer Aderans Construction, which was added to the database in October), sold only 1 unit with 4 or more bedrooms.
Net Sales Balance (Sales minus Returns) of 4+ Bedroom Units by Month 2024, Number of Units (Apartments and Houses) and Unit Distribution by Type
Note: negative figures (balance of apartment sales in April and June) mean that more units were returned to the market than were sold.
The report for units with 4 or more bedrooms can be downloaded free of charge here.
You can get more detailed information about the state of the residential property market in Northern Cyprus and individual residential complexes by subscribing to the analytics system.