New property regulations in Northern Cyprus (May 2024)
In May 2024, new rules for purchasing property in Northern Cyprus were announced for foreign buyers.
Since the announcement on 22 May, there has been much speculation and also misinformation about how these new regulations will affect past, current and future property buyers in Northern Cyprus.
Are the new property regulations final?
The regulations are currently being fine-tuned. Several legal challenges are underway or expected. Updates will follow as soon as concrete information is available.
Why were new property rules introduced?
The new regulations were necessary to protect the beauty and cultural heritage of Northern Cyprus for future generations.
They were also introduced to control price increases and ensure that agencies and developers operate within the legal framework.
How many properties can a foreign buyer purchase?
The updated rules reinforce the long-standing requirement of “one property per person.”
While this rule already existed, it was often bypassed through unregistered contracts with developers.
As of May 2024, a foreign buyer is officially allowed to purchase only ONE property.
Those who already own more than one property will be given a period during which they must sell their additional properties.
Agencies and developers who previously encouraged multiple purchases for financial gain will find that their clients must now dispose of any extra properties within a specified timeframe.
Will property prices decrease because of the new rules?
The main goal is to control prices—especially for local residents—and to preserve the natural beauty of Northern Cyprus.
It is expected that prices will stabilise but not fall significantly.
In some overbuilt or oversold new developments, prices may correct if many units enter the market simultaneously.
The value of resale properties with existing individual title deeds is expected to rise, as these become even more sought after.
Are shared (joint) title deeds affected?
We are currently awaiting clarification from lawyers regarding the impact of the new regulations on shared ownership titles—both for villas and apartments.
Updates will be provided as soon as there are official legal statements.
Will the new regulations help protect local culture?
Due to the development boom, some areas became so dominated by non-Turkish-Cypriot buyers that the island’s culture was increasingly at risk.
The new regulations introduce requirements ensuring that at least 20% of all new developments must be sold to local Turkish Cypriots or Turkish mainland citizens.
How should buyers react if they are affected?
Do not panic!
Current buyers will be given time to comply with the rules, claim their title deed, or sell their property if necessary.
There will also be “grandfather clauses” for buyers who signed contracts before the new rules came into effect.
If you already bought a property but do not yet have your title deed, your first step should be to contact your TRNC lawyer for guidance.
Why have prices risen so sharply in Northern Cyprus?
Over the past two years, prices have increased rapidly due to strong demand from buyers from Russia, Ukraine, Scandinavia, Germany and other countries.
This has driven prices beyond the affordability of many local Turkish Cypriots, whose average income is significantly lower.
How will the new rules protect the beauty of Northern Cyprus?
Rapid expansion of new housing developments has threatened the natural landscape.
By enforcing restrictions on new developments and tightening the permit system, the growth of new projects will slow down—helping preserve the island’s natural beauty.
Are there different rules for Turkish mainland buyers?
Yes. Since Turkey officially recognises the TRNC, Turkish citizens may purchase up to three properties per person.
This applies to any future countries that may officially recognise the TRNC.
New legal requirements for off-plan properties
Before the new rules, developers commonly sold off-plan or under-construction properties without holding a title deed.
The new law states clearly that developers may NOT sell a property unless a “Kat Irtifak” (preliminary title deed) exists, which will later be exchanged for the full title deed once the project is completed.
Therefore, the recommendation is:
❗ Do NOT buy any off-plan property without a Kat Irtifak or preliminary title deed.
❗ Do NOT sign contracts for such properties.
If you have already signed a contract for a property without a preliminary deed, consult your lawyer immediately.
Developers may receive deadlines to obtain these deeds, but each case may differ.
Practical implications
For resale properties, the title deed must be present and verifiable.
Otherwise, the contract is invalid. Reputable agents will inform buyers of this.
For off-plan purchases, follow the guidance above.
Source of information
These details come from statements by our lawyers within the NZI network and licensed agents in Northern Cyprus with over 20 years of experience.