Property for Sale in Esentepe, Northern Cyprus
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Esentepe, a coastal village located on the northern slopes of the Kyrenia mountain range, is one of Northern Cyprus’s hidden gems. Known for its breathtaking views of the Mediterranean Sea, lush green landscapes, and tranquil environment, Esentepe has become a highly sought-after destination for property buyers and investors. Whether you’re looking for a holiday home or buying property in Esentepe for retirement, or a lucrative investment, this town offers a variety of real estate opportunities. With its unmatched beauty and growing real estate market, buying a house in central Esentepe offers a perfect blend of serenity and investment potential.
Why Esentepe Stands Out
Esentepe’s appeal lies in its strategic location, offering residents the best of both worlds—peaceful countryside living with easy access to the vibrant city life of Kyrenia, which is just a 20-minute drive away. The village is surrounded by natural beauty, from the picturesque Besparmak Mountains to the crystal-clear waters of the Mediterranean. This idyllic setting makes Esentepe a favorite among nature lovers, golfers, and those seeking a relaxed lifestyle.
One of the main attractions in Esentepe is the Korineum Golf & Beach Resort, the first 18-hole golf course in Northern Cyprus. This world-class facility has further boosted the village’s popularity, attracting golf enthusiasts and increasing demand for properties nearby. Additionally, Esentepe boasts a variety of walking trails, beaches, and historical sites, providing plenty of leisure activities for residents and visitors alike.
Esentepe Real Estate Market Overview
The real estate market in Esentepe is thriving, driven by its growing popularity among foreign buyers and the steady development of new residential projects. The property prices in central Esentepe are competitive, making it an attractive destination for investors seeking both affordability and long-term growth.
Average Property Prices:
The average property price in Esentepe is around £120,000. However, prices can vary significantly depending on the type and size of the property. Villas, for instance, tend to be more expensive due to their larger plots and premium locations, while apartments prices in esentepe are more affordable, catering to a broader range of buyers.
Price per Square Meter:
The average price per square meter in Esentepe is around £1,032. This figure highlights the excellent value for money that Esentepe offers, especially when compared to other coastal regions in the Mediterranean. The relatively low cost per square meter makes Esentepe a particularly attractive option for those looking to buy an apartment in central Esentepe.
Rental Yields:
Esentepe offers promising rental yields, averaging around 5%. This means that if you purchase a property for £129,000, you can expect to earn approximately £6,450 annually from renting it out. The village’s growing popularity among tourists and expatriates ensures a steady demand for rental properties, making Esentepe a sound investment choice.
Annual Price Growth:
Property prices in Esentepe have seen an annual growth of around 3% in recent years. This steady appreciation in property values reflects the region’s increasing desirability and the ongoing development of its infrastructure. Investors can expect a stable return on investment as the village continues to attract both local and international buyers.
Most Popular Property Types:
Villas and apartments are the most sought-after property types in Esentepe. Villas, in particular, are popular among foreign buyers looking for holiday homes or retirement properties. These properties often come with large gardens, private pools, and stunning sea views, making them a luxurious option for those looking to Buy a villa in central Esentepe. Apartments, on the other hand, are ideal for buyers seeking a more affordable entry into the Esentepe real estate market.
Demand and Supply in Esentepe
There is a balanced demand and supply of properties in Esentepe, with new developments coming up to cater to the increasing interest from both local and foreign buyers. The village’s real estate market is well-regulated, ensuring that new constructions blend harmoniously with the natural surroundings. This careful approach to development preserves the village’s charm while accommodating modern amenities and infrastructure.
Foreign Buyer Interest:
Esentepe has seen a surge in interest from foreign buyers, particularly from the UK, Russia, and Scandinavian countries. The village’s natural beauty, coupled with its affordable property prices, makes it an attractive destination for overseas investors. Many foreign buyers are drawn to Esentepe for its tranquil environment, making it an ideal location for a second home or a peaceful retirement.
Mortgage Rates and Transaction Costs:
The average mortgage rate in Cyprus is around 2.5%, making it relatively affordable to finance a property purchase in Esentepe. However, mortgage rates can vary depending on the bank and the applicant’s financial profile. When buying property in Esentepe, it’s essential to consider the transaction costs, which are approximately 7-8% of the property’s purchase price. These costs include legal fees, stamp duty, and VAT.
The Future Outlook for Esentepe Real Estate
The future outlook for the Esentepe real estate market is positive, with expectations of stable growth in the coming years. The village’s increasing popularity among foreign buyers and the ongoing infrastructure developments are likely to support this growth, making Esentepe a golden opportunity for real estate investment in Northern Cyprus.
Esentepe’s strategic location, diverse property options, and promising future make it an ideal destination for investors seeking both returns and a serene lifestyle. The village’s steady property price appreciation, combined with attractive rental yields, ensures a solid return on investment for those looking to invest in this picturesque region.
Final Words
In conclusion, Esentepe is more than just a beautiful village; it is a thriving real estate market with significant investment potential. Whether you’re looking to buy an apartment in central Esentepe, or curious about the property prices in Northern Cyprus in general, Esentepe offers a wide range of property options to suit different budgets and preferences. With its unmatched beauty, growing infrastructure, and strategic location, Esentepe is well-positioned to continue attracting investors and homebuyers alike.
Esentepe Projects price table
Esentepe Projects
Poseidon Apartments
Prestigious Seafront Project with Stunning Views
With Cutting-Edge Architecture, and Elegant Design
Carrington Group
Palm Homes Villas
Luxurious Villas with Private Gardens in Tranquil North Cyprus
Close to high-End Amenities for an Unforgettable Getaway
Afik Group
Esentepe Hills Apartments and Villas
Luxury Apartments and Villas on a Serene Mountainside
Unique Design and Luxurious Living
Carrington Group
Esentepe Villas
Ultra-Luxury Villas in Esentepe’s Mediterranean Paradise
Redefining Ultra-Luxury with Elegant Design and Cutting-Edge Technology
NorthenLAND Group
Aloha Villas and Apartments
Luxurious Beachfront Apartments
Affordable with Flexible Payment Options
Cyprus Construction
Phuket Villas and Apartments
Experience Luxury in this Uniquely Designed Project
Convenient and Flexible Payment Options
Cyprus Construction
frequently asked questions
Yes, it is a good time to invest in property in Esentepe. The village is experiencing steady property price growth, increasing interest from foreign buyers, and ongoing infrastructure developments, all of which contribute to its promising future as a real estate investment destination.
Esentepe offers a variety of properties, including villas, apartments, and townhouses. Villas are particularly popular for their luxurious features and scenic locations, while apartments offer a more affordable entry into the market, making them ideal for first-time buyers.
The average property price in Esentepe is around £120,000, but this can vary depending on the type and size of the property. House prices in central Esentepe and Villa prices in central Esentepe are influenced by factors such as location, view, and proximity to amenities.
The average rental yield in Esentepe is about 5%, which means that if you purchase a property for £129,000, you can expect to earn approximately £6,450 annually from renting it out. This makes Esentepe a lucrative option for investors looking for rental income.
Yes, there are additional costs associated with buying property in Esentepe, including legal fees, stamp duty, and VAT. These transaction costs typically amount to around 7-8% of the property's purchase price, so it's important to factor them into your budget when considering a property purchase.