New property rules for Northern Cyprus (May announcement)
This month, new regulations for purchasing property in Northern Cyprus were announced for foreign buyers.
Since the announcement on May 22, there has been a great deal of speculation and misinformation regarding how these new rules will impact previous, current and future property buyers.
Are the new ownership regulations final?
Not yet.
The regulations are currently being fine-tuned, and several legal challenges are underway or expected.
An official update will follow as soon as concrete statements are released.
Why were the new ownership regulations introduced?
The new rules were necessary to protect the beauty and unique Cypriot culture of Northern Cyprus for future generations.
They were also introduced to control price increases and to ensure that agencies and developers operate within the law.
How many properties may a foreign investor purchase?
The new regulations enforce the long-standing rule of “one property per person.”
This rule was often bypassed through unregistered developer contracts.
As of May 2024, a foreign buyer may only acquire one property.
Anyone who owns more than one will be given a deadline to sell the additional property.
Agencies and developers who encouraged multiple purchases will find that their clients must now sell the extra units within a specific period.
Will property prices decrease because of the new rules?
The main aim is to keep prices controlled — especially for locals — and to maintain the natural beauty of Northern Cyprus.
Prices are expected to stabilise, but not decrease significantly.
Some overpriced or overbuilt new developments may see price corrections if many units hit the market at once.
Resale properties with existing individual title deeds may increase in value due to higher demand under the new rules.
Are shared/joint title deeds affected?
We are waiting for clarification from lawyers regarding joint ownership deeds (for villas and apartments).
More details will be shared as soon as official information becomes available.
Will the new rules help preserve local culture?
Yes.
Due to rapid development, some areas became dominated by non-Turkish-Cypriot nationalities, putting local culture at risk.
The new rules require that at least 20% of all new developments be sold to local Turkish Cypriots or citizens of mainland Turkey.
How should affected buyers respond?
Do not panic!
Existing buyers will have time to comply, receive their title deed, or sell their property.
There will also be grandfather clauses for buyers who had contracts before the rules came into effect.
If you do not yet have a title deed in your name, consult your TRNC lawyer immediately.
Why have prices risen so sharply?
Over the past two years, strong demand from buyers in Russia, Ukraine, Scandinavia, Germany and other countries has caused prices to rise sharply, making property increasingly unaffordable for local Turkish Cypriots.
How will the new rules preserve the beauty of the TRNC?
Rapid development linked to the property boom has threatened the island’s natural environment.
By restricting new build sales and tightening planning approval systems, the growth of new developments will slow — helping protect Cyprus’ natural beauty.
Different rules for Turkish mainland buyers?
Yes.
Since Turkey recognises the TRNC, Turkish citizens may purchase up to three properties per person.
This also applies to any future country that recognises the TRNC.
New legal basis for off-plan purchases
Until now, developers often sold off-plan projects while awaiting title deeds.
The new rules state clearly that developers may NOT sell a property unless at least a “Kat Irtifak” (preliminary title deed) exists.
This deed will later be converted into the full title after project completion.
Therefore:
❗ Do NOT purchase off-plan properties without a Kat Irtifak or preliminary deed.
❗ Do NOT sign contracts for such properties.
If you already signed such a contract, consult your lawyer.
Developers may receive deadlines to obtain preliminary deeds, but each case can differ.
Practical consequence
For resale property, the title deed must be available and verifiable — otherwise the contract is invalid.
Serious agents inform buyers of this.
For off-plan purchases, follow the above guidance.
Source of information
These details are based on statements from our lawyers and licensed Northern Cyprus agents with more than 20 years of experience.