Capital City: Nicosia
Language: Greek – Turkish
International Dialing Code: 351
President: Nicos Anastasiades
The area of Cyprus where we see the most potential—and the best property prices—right now is Northern Cyprus. Northern Cyprus is a 3,355-square-kilometer area in northeastern Cyprus, comprising 36% of the island’s total land area. The population of Northern Cyprus is 325,000 people compared to 1.2 million in the south. The currency is the Turkish lira, meaning prices are 30% lower than in the eurozone.
Though it’s officially part of the Republic of Cyprus, Northern Cyprus is a de facto state administered by the Turkish Republic of Northern Cyprus (TRNC), meaning it’s under Turkish control. While the Republic of Cyprus is an EU-member nation, membership effects are suspended in Northern Cyprus. These political issues have little to no effect on daily life in Northern Cyprus. Business continues as usual on both sides of the border.
Northern Cyprus takes up just one-third of the island’s land area, yet it has the most coastline. But it’s not just beach enthusiasts that flock here. Gambling was legalized in Northern Cyprus in the 1970s (it’s only been legal in the Republic since 2018). Since the 1990s, a steady stream of high rollers has been hitting the region’s casinos. It’s even been dubbed the “Las Vegas of the Mediterranean.” Despite this party reputation, it’s still possible to enjoy a quiet, relaxing break here.
Medical tourism is another growing sector. First-class hospitals and health centers offer a range of procedures from IVF to hip replacement to dental implants at a fraction of the cost of the United States and the rest of Europe.
Retirement in Northern Cyprus would mean a life outside the more familiar comfort zones of Europe and the Americas. If you’re up for an adventure at this stage of your life, where your retirement budget will buy you a bona fide luxury standard of life on one of the world’s most beautiful stretches of coastline, Northern Cyprus should be at the top of your list.
Northern Cyprus enjoys an eight-month warm season, which starts in April and ends in November. During this time, the sun shines for upwards of 11 hours a day, and temperatures average 72°F. The height of summer is June to August, when temperatures get hot, regularly reaching 95°F and above. Summer in Northern Cyprus is suitable only for those who can handle high temperatures.
During the cool season, December to March, temperatures are mild, with a daily mean of 53°F. These are also Northern Cyprus’s rainiest months when 60% of the yearly precipitation comes down. Northern Cyprus gets about 14 inches of rainfall a year. With an umbrella in tow, this weather is ideal for getting out and exploring the best things to do in Northern Cyprus.
Thanks to the use of the Turkish lira, the cost of living in Northern Cyprus is much lower than in the eurozone. Northern Cyprus also claims the title for one of the most affordable places to buy real estate in the Mediterranean. You will find affordable properties here that you may never have dreamed of owning in this part of the world.
Day-to-day living costs are low in Northern Cyprus. It is somewhat self-sufficient when it comes to agricultural production, so you can buy your groceries from local farmers for competitive prices.
Electricity costs are about the same as what you’d pay in North America. The specific amounts fluctuate depending on the seasons and how often you run your air conditioner in the summer months and whether you run a heater during cooler months. In spring and autumn, electricity costs can be next to nothing.