The North Cyprus (TRNC) real estate market is undergoing significant changes due to amendments to the law that came into force in 2024-2025. These measures are aimed at regulating the market, ensuring stability, and attracting investment.
The main change concerns ownership restrictions. While foreigners could previously only purchase one property, the new law now allows them to buy up to 3 apartments, or up to 2 villas within a complex, or one detached house on a plot no larger than 3300 square meters. The limit on purchasing land plots (up to 1338 square meters) for building a single house remains.
An important aspect is the stricter requirements for legal registration. Foreigners, even when buying a single apartment, are now required to have a title deed or its preliminary registration ("Kat Irtifak"). The entire process of obtaining permission from the Council of Ministers can take 6 to 12 months.
Despite the legal nuances, the market shows stable growth. Housing prices are rising, and a significant influx of international investors from European countries and Russia was observed in 2024-2025. Reports indicate that North Cyprus remains an attractive investment destination, offering potential for property value appreciation.
Buying real estate is still profitable for foreigners, especially for those planning to invest in multiple properties for rental purposes. However, the success of the transaction directly depends on engaging an independent lawyer and thoroughly checking all documents and the status of the title deed.
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