Maprex database at the end of January 2025 contains 1,151 residential properties for sale on the secondary real estate market in Northern Cyprus. 95% of the properties for sale are apartments (1,094 units), while houses account for about 5% (57 units).
Distribution structure of secondary real estate objects, by type and subtype, %
The vast majority of properties on sale (88%) are located in Iskele (1,005 units), mainly in Long Beach (813 units). Next comes Kyrenia (82 units) and Famagusta (50 units). In the Lefke region, there are only 8 properties for sale on the secondary market.
Map of the location of residential complexes where secondary real estate is sold
Note: The size of the circle corresponds to the number of units available for sale.
The secondary real estate database contains properties from 98 residential complexes from 35 developers.
The largest developer by number of properties on the secondary market is Afik (402 units), followed by Northernland (222 units) and Noyanlar (213 units). The properties of these 3 developers account for more than 70% of the supply of all properties on the secondary market.
TOP 10 developers by number of properties for sale:
1. Afik – 402 units
2. Northernland – 222 units
3. Noyanlar – 213 units
4. Döveç – 92 units
5. Isatis – 27 units
6. Four Vision Development – 26 units
7. Levent – 18 units
8. Sar Yap Inşaat – 17 units
9. Dörter Construction – 11 units
10. Emtan Construction – 11 units
The largest complex with the most objects for sale – Grand Sapphire by developer Northernland (118 units – A-E and 62 units – F), then followed by Caesar Resort 3 and Caesar Blue from developer Afik (79 and 72 units).
Rating of complexes by the number of objects for sale (top 10), number of units
2/3 (72.4%) of housing sold on the secondary market is already completed (built). 27% of properties sold are in complexes with construction completion in 2025, 17% - in 2026.
Distribution of objects by status and year of completion of construction, %
More than a third (35.3%) of secondary real estate properties have 1+1 layouts, another 27.9% are studios, 26.9% are 2+1 housing, and only 5.1% are 3+1 housing.
Distribution of objects by number of rooms, %
The most common objects are those with an area (gross covered area) from 50 to 75 sq. m (more than a third – 39%), followed by units from 75 sq. m to 100 sq. m (22%) and from 100 to 150 sq. m (16%), only less than 7% of units have an area of more than 150 sq. m.
Distribution of objects by total area, sq. m
Prices
More than half (60.6%) of all properties available for purchase at the end of January 2024 are in the price range of up to £100K, almost a third (31.7%) are from £100 to 200K. The minimum cost of an object on the secondary market is £39,000 (studios in the complex Caesar Resort 7 and Royal Life Poseidon (41-51 sq. m) and the maximum – £1.8 million (5-bedroom villa in Esentepe, 452 sq. m, with a land plot of 950 sq. m).
Distribution of objects by price range, thousand pounds, %
The median price of properties varies significantly depending on the type of property and the number of rooms, with studios selling for a median of £60,000 (range £39,000-£140,000), 1+1 apartments for a median of £80,000 (range £55,000-£205,000) and 2+1 apartments for a median of £133,000 (range £65,000-£300,000), compared to 2+1 houses for a median of £158,000 (range £136,000-£935,000).
Median property price by type and number of rooms, range, thousands of pounds, %
The most expensive complexes are located mainly in Esentepe, Kalecik and Long. Beach – complexes of developers Cyprus Constructions, Döveç, Four Vision Development and others.
TOP 10 most expensive complexes on the secondary real estate market, by median cost per unit:
Only complexes with 10 or more units on sale are included
All the cheapest complexes are located in Long Beach – mainly complexes of developers Noyanlar and Afik.
TOP 10 most inexpensive residential complexes on the secondary real estate market, by median cost per unit:
Over the past few months (since September 2024), the median price of apartments on the secondary real estate market has decreased from £95K to £79K in December, in January 2025 it increased to £84K. The median price of houses decreased from £280K in October to £165K in January 2025. The decrease in prices is primarily due to oversupply on the market and low demand (the introduction of new property sales rules in Northern Cyprus had a major impact on the market, as about 1000 properties were bought outside the one property rule, mainly in the areas of Iskele, Esentepe and Tatlisu, buyers are forced to sell the "extra" property). Many apartments on the secondary market are sold for several months and sellers are forced to reduce the price in order to avoid paying tax on excess property.
Median unit price on the secondary property market by type and month in 2024-January 2025, thousands of pounds
Properties on the secondary market are sold on average with a discount of more than 40% compared to prices on the primary market for similar properties. The highest discount is for studios – on average more than 50%, followed by 2+1 units, the smallest discount is for 1+1 properties.
The highest discount among the analyzed complexes was recorded at the studio in the Afik complex Caesar Resort 7 – the discount exceeds 60% both for the property and for the square meter. The lowest discount is in the Grand complex Sapphire Blue (Northernland) – just over 20% and Infinity (Isatis) – almost absent.
Average discount on properties on the secondary market, by complex and number of rooms, % of the price on the primary market per property and sq. m.
The discount is calculated relative to the median price per square meter and per property
Note: The analysis includes the best-selling complexes on the secondary market (with 10 or more units for sale), which are also presented on the primary market.
Such a large discount largely explains the shift in buyer demand from the primary to the secondary market in recent times.
*several blocks of the complex are ready
The report on secondary market can be downloaded for free at the link.
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