The Council of Ministers has expanded the rights of foreigners and Turkish citizens to purchase real estate in the country. The new regulation, issued by decree and published in the Official Gazette, redefines the conditions under which foreign individuals and legal entities can acquire property in Northern Cyprus.
According to new changes, foreign nationals are now permitted to purchase up to three apartments, an increase from the previous limit of one. Citizens of the Republic of Turkey may now buy up to six apartments, doubling the previous limit of two. Foreigners who had acquired more than three properties before the regulation came into effect are now legally allowed to rent out those properties for up to 10 years.
Conditions for Real Estate Acquisition
All real estate acquisitions by foreign individuals or entities remain subject to the approval of the Council of Ministers. The updated limits are as follows:
Land Purchases: Foreigners can acquire up to 1,338 square meters, with permission to build only one residence on the land.
Apartments: The general limit is three apartments per person, while citizens of Turkey and nationals of countries that grant equal rights to TRNC citizens may purchase up to six.
Detached Houses and Villas: A single unit can be built on plots up to 3,300 square meters; additional construction is not permitted.
Housing Complexes: Buyers may purchase up to two two-story villas, with this number rising to three for those from countries granting TRNC citizens reciprocal rights.
