One of the most popular holiday destinations of Cyprus, Kyrenia, is attracting growing attention from both local and foreign real estate investors. The reason for this growing attention is Kyrenia’s increasing real estate value due to the universities and tourists it hosts that provides investors with high rental income. This article provides information about Kyrenia house prices for sale for real estate investors.
Kyrenia, the tourism center of Cyprus, is one of the Cypriot cities that is frequently visited by local and foreign tourists. It has been home to thousands of civilisations since ancient times. The ancient harbour and the Kyrenia Castle, are the most well-known historical attractions in Kyrenia. With its beautiful beaches, home to the endemic loggerhead sea turtle (aka the Caretta Caretta), and sparkling Mediterranean waters, Kyrenia is sure to be the heart of Cypriot tourism for many years to come.
Kyrenia is also a city with a high number of university students. Currently, there are 5 active universities in Kyrenia: Girne American University, University of Kyrenia, Cyprus Science University, Final International University and Arkın University of Creative Arts and Design. In addition, there are 3 more universities that will soon start fully operating, namely Cyprus Metropolitan University, Akacan University and Akacan Technical University.
Prices of Kyrenia houses for sale are a bit high compared to other cities in Cyprus. However, the most important factor here is that properties in Kyrenia have a considerably high investment value and thereby high earning potential. For this reason, buying a house in Kyrenia is considered a wise real estate investment.
Buying a House in Kyrenia for Living Purposes
Before moving on to the prices of the houses for sale in Kyrenia, let’s talk about buying a house in Kyrenia for living purposes. Although Kyrenia is known as a city visited for tourism, the number of choosing to settle here is quite high. A large number of people who come to visit Kyrenia for a holiday choose to settle in Kyrenia. Especially those from colder countries such as England, Russia and Scandinavian countries. It is possible to experience all of benefits of living in Cyprus in Kyrenia. Due to all its benefits however, the cost of living in Kyrenia is relatively higher compared to other cities in Cyprus.
Buying a House in Kyrenia as an Investment
The topic of investing in real estate in Cyprus has been gaining increasing interest from real estate investors over the recent years. Considering Kyrenia properties’ low turnover times that range between 8-12 years, opportunities to earn rental income in foreign currency and the high levels of demand for rental properties throughout the year, the increase in interest from investors doesn’t come off as a surprise.
Kyrenia is cheaper than many European countries in terms of its house prices for sale. Tourism and education sectors act as a catalyst to all the other sectors in Kyrenia. Especially in recent years, Kyrenia’s importance is predicted to rise due to the increase in its tourism capacity, which is among the plans of the TRNC government. You can earn rental income in foreign currency by investing in real estate in Kyrenia. You can prefer Esentepe, Lapta and Alsancak regions, which have especially growing real estate activity in recent years.
What are the prices of houses for sale in Kyrenia?
Let’s examine the prices of houses for sale in Kyrenia according to the three main locations the East, Central and the West.
- East: Karakum, Doğanköy, Ozanköy, Beylerbeyi, Çatalköy ve Arapköy
- Central: Girne Merkez, Yukarı Girne
- West: Zeytinlik, Edremit, Karaoğlanoğlu, Alsancak, Lapta, Karşıyaka
Prices of houses for sale in Kyrenia range from £65,000 to £110,000 in the East. In the West, it is possible to find properties for sale ranging between 60,000 and 70,000 pounds. The most expensive properties in Kyrenia are the properties that are close to the centre. A standard home in the centre costs between £40,000 and £110,000 whereas luxury homes for sale in this area range from £85,000 to £450,000.
Residential Areas in Kyrenia
There are 45 residential areas in Kyrenia. Here is a list of these areas with their old and new names:
- Ağırdağ – Ağırda
- Akçiçek – Sisglibo
- Akdeniz – Ay. İrini
- Alemdağ – Agridaci
- Alsancak – Karava
- Arapköy – Arapkoy
- Aşağı Dikmen – Digomo
- Aşağı Taşkent- Sihari
- Bahçeli – Kalturga
- Beşparmak – Trabeza
- Beylerbeyi – Balabayıs
- Boğazköy – Boğaz
- Çamlıbel – Mirtu
- Çatalköy – Çatalköy
- Dağyolu – Fota
- Doğanköy – Thermia
- Edremit – Trimit
- Esentepe – Ay Guruş
- Geçitköy – Panagra
- Girne – Kyrenia
- Göçeri – Bilelle
- Güngör – Kutsovendi
- Hisarköy – Gambilli
- Ilgaz – Fderiha
- İncesu – Modiyes
- Karaağaç – Harca
- Karaman – Karmi
- Karaoğlanoğlu – Ayorgi
- Karpaşa – Karpasa
- Karşıyaka – Vasilya
- Kayalar – Orga
- Kılıçarslan – Kördümen
- Koruçam – Kormacit
- Kozan – Larnaka tis Lapitos
- Kömürcü – Kömürcü
- Lapta – Lapithos
- Malatya – Balyosofo
- Ozanköy – Gazafana
- Özhan – Asomato
- Pınarbası – Gırnı
- Sadrazamköy – Liveraos
- Şirinevler – Ayermola
- Tepebaşı – Yorgoz
- Yeşiltepe – Elya
- Yukarı Dikmen – Digomo
- Yukarı Taşkent – Vuni
- Zeytinlik – Templos, Temroz
Buying Affordable Housing in Kyrenia
At the beginning of the article, we mentioned that the prices of houses for sale in Cyprus are affordable compared to many other countries. However, it is possible to buy a house cheaper than the aforementioned prices. Those who want to buy affordable houses in Cyprus usually consider the option of buying off the plan from construction company projects. Kyrenia house prices offer a price advantage of up to 30% in real estate projects that are still in the launch phase. If you wish, you can visit the page of buying a house off the plan for more information.
If you want to invest in Cyprus and buy a house for sale in Kyrenia, you can leave your information via the contact button at the bottom of the page and benefit from our free real estate consultancy service.
