Northern Cyprus
Mietrenditen Nordzypern nach Region: Realistische Zahlen
Brutto- und Nettorenditen in Iskele/Long Beach, Kyrenia, Esentepe/Bahceli und Famagusta, mit Rechenbeispiel.
North Cyprus is marketed heavily on rental yield, and the underlying numbers are genuinely competitive with much of the Mediterranean — but the gap between advertised "gross yield" figures and what actually reaches a landlord's account after management fees, community charges, void periods and taxes is wide. This guide works through realistic ranges by area and shows a full worked example so buyers can model their own numbers rather than relying on a developer's brochure projection.
Iskele / Long Beach
The most active short-let market in North Cyprus, driven by new-build beachfront and near-beach apartment stock and strong summer tourist demand. Gross yields quoted by agents run 7–10%, but these typically assume near-full summer occupancy at peak nightly rates, which does not hold for the shoulder and winter months. Realistic blended net yield after management (typically 20–30% of short-let revenue for a managed service), community fees, utilities during void periods and maintenance: 4–6% net. Occupancy on a well-managed, well-located Long Beach unit averages 45–60% across the year once winter is factored in, with July–September commonly near full and December–February often below 20%.
Kyrenia (Girne)
North Cyprus's most established and internationally recognised town, with a mix of long-let (expat and local professional tenants) and short-let (harbour and old town) demand. Gross yields tend to be lower than Iskele — 5–7% — reflecting higher purchase prices, but net yields are often comparable or better because long-let tenancies carry far lower management costs (5–10% of rent vs 20–30% for short-let) and near-zero void periods for well-located, well-priced units. Net yield on a long-let Kyrenia apartment: typically 4–5.5%. Kyrenia also tends to hold capital value better through downturns given its deeper resale market and broader buyer base.
Esentepe / Bahceli
A quieter, more residential and golf/coastal-lifestyle-driven stretch east of Kyrenia, popular with UK and northern European buyers seeking a holiday-home-first, rental-second profile. Occupancy is more seasonal than Iskele (fewer year-round local tenants, less nightlife-driven short-let demand) so gross yields of 6–8% often convert to net yields of 3.5–5%, with meaningful off-season vacancy unless actively marketed by an experienced local agent. Buyers here are more often optimising for lifestyle and capital appreciation than pure rental income, and pricing/marketing accordingly.
Famagusta
A university town (Eastern Mediterranean University) alongside historic old-town and coastal areas, giving Famagusta a genuinely distinct rental profile: strong, resilient long-let demand from students and staff for 9–10 months of the year, alongside beach-area short-let demand in summer. This dual market can produce some of the more resilient net yields in North Cyprus — 5–7% net on well-located studio and 1-bed units aimed at the student/staff market, since void periods are short and management costs for long-let student housing are low. The trade-off is generally lower capital appreciation than the beachfront resort areas and more hands-on management (or a local agent) needed to manage tenant turnover each academic year.
Worked Example: A €130,000 Iskele Apartment
Purchase price: €130,000 (2-bed, near Long Beach). Assume achievable short-let average nightly rate €55, blended annual occupancy 50% (accounting for a strong summer and a quiet winter): gross rental revenue ≈ €55 × 365 × 0.50 = €10,038/year, a gross yield of 7.7%. Deduct: management fee at 25% of revenue (€2,510), community/site fees €900/year, utilities during managed lets and void periods €600/year, maintenance and replacement reserve 5% of revenue (€500), letting platform/marketing fees already included in management in this example. Net income: €10,038 − €2,510 − €900 − €600 − €500 = €5,528. Net yield: €5,528 / €130,000 = 4.25%. This is a realistic, defensible net figure for a well-run Iskele short-let — meaningfully below the 8–10% "gross yield" often quoted in marketing, and buyers should always ask for the net number, not the gross.
| Area | Typical gross yield | Typical net yield | Dominant model |
|---|---|---|---|
| Iskele / Long Beach | 7–10% | 4–6% | Short-let, managed |
| Kyrenia | 5–7% | 4–5.5% | Long-let, some short-let |
| Esentepe / Bahceli | 6–8% | 3.5–5% | Seasonal / lifestyle |
| Famagusta | 6–8% | 5–7% | Student long-let + summer short-let |