Complete Northern Cyprus Retirement Guide

Map of Cyprus

Northern Cyprus: A Hidden Treasure In The Mediterranean

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Venetian Column on Ataturk Square in Nicosia, Northern Cyprus — Adobe Stock/Leonid Andronov

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.

Life In Northern Cyprus

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.

Climate In Northern Cyprus

Kyrenia town in Northern Cyprus — Adobe Stock/ Freesurf

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.

Cost Of Living In Northern Cyprus

Private swimming pool near luxury villa — Adobe Stock/Annatamila

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. For example, 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.

Apartment Or House Ownership Budget (For A Couple)


Expense	Monthly Costs	Notes
Mortgage	–
HOA Fees	–
Property Taxes	–
Transportation	990 TL	Driving your own car; monthly price for insurance.
Gas	300 TL	Gas for your car.
Electricity	400 TL	Including reasonable air conditioning use.
Water	100 TL
Cell Phone	150 TL
Internet	129.90 TL	For 100 Mbps fiber.
Cable TV	–
Household Help	1,200 TL	One five-hour cleaning once a week at 60 TL per hour.
Entertainment	5,000 TL	Monthly cost for eating out twice a week: 2,880 TL (270 TL to 450 TL per meal for two). Monthly cost for drinks twice a week: 1,880 TL (20 TL for a beer; 35 TL for a mixed drink; 180 for a bottle of wine). Movie theatre trip twice a month: 240 TL (60 TL per ticket).
Groceries	4,000 TL
Gym Membership	750 TL
Medical Appointment	300 TL	For an appointment at a private clinic.
TOTAL	13,319.90 TL

Apartment Or House Rental Budget (For A Couple)


Expense	Monthly Costs	Notes
Rent	12,020 TL	Two-bedroom apartment with a pool in Kyrenia. Note that real estate can be priced in British pounds, U.S. dollars, or euros.
Transportation	990 TL	Driving your own car; monthly price for insurance.
Gas	300 TL	Gas for your car.
Electricity	400 TL	Including reasonable air conditioning use.
Water	100 TL
Cell Phone	150 TL
Internet	129.90 TL	For 100 Mbps fiber.
Cable TV	–
Household Help	1,200 TL	One five-hour cleaning once a week at 60 TL per hour.
Entertainment	5,000 TL	Monthly cost for eating out twice a week: 2,880 TL (270 TL to 450 TL per meal for two). Monthly cost for drinks twice a week: 1,880 TL (20 TL for a beer; 35 TL for a mixed drink; 180 for a bottle of wine). Movie theatre trip twice a month: 240 TL (60 TL per ticket).
Groceries	4,000 TL
Gym Membership	750 TL
Medical Appointment	300 TL	For an appointment at a private clinic.
TOTAL	25,211.43 TL

Penny-Pincher’s Budget (Bare Minimum Costs, For A Couple)


Expense	Monthly Costs	Notes
Rent	10,020 TL	Cheapest part of town; basic one-bedroom rental.
Transportation	990 TL	Driving your own car; monthly price for insurance.
Gas	300 TL	Gas for your car.
Electricity	300 TL	No air conditioning use.
Water	100 TL
Cell Phone	150 TL	Cheapest monthly plan with minimal data.
Internet	129.90 TL
Cable TV	–
Entertainment	1,840 TL	Monthly cost for eating out twice a week: 1,000 TL (62.50 TL per meal for two). Monthly cost for drinks twice a week: 600 TL (20 TL for a beer; 35 TL for a mixed drink). Movie theatre trip twice a month: 240 TL (60 TL per ticket).
Groceries	3,000 TL	Shopping at local markets and avoiding imported goods.
TOTAL	16,829.90 TL