On May 16, 2025, amendments were made to Law 39/2024 regarding the acquisition and rental of real estate by foreigners.

Here are the main points:

Land Parcels: Foreigners, regardless of nationality, can still purchase parcels of land up to 1338 m². Only one house can be built on a single parcel.

Apartments: Foreigners can acquire up to 3 apartments, while Turkish citizens can purchase up to 6 apartments.

Detached Houses: The area of the plot cannot exceed 3300 m², and no second house or apartment can be built on it.

Villas in Complexes: Foreigners can buy 2 two-story villas, while Turkish citizens can buy 3 villas.

Choice of Property: Foreigners can choose only one of the following options: a plot of land of 1338 m², or 3 apartments, or a separate house with a plot not exceeding 3300 m², or 2 two-story villas in a complex.

Title Transfer: The title must be transferred to the buyer within 1 year after obtaining permission from the Council of Ministers. Taxes and fees must be paid within 75 days. Without tax payment, electricity and water will not be connected. If the property was purchased in installments, the deadline starts from the date of the final payment. If the seller does not transfer ownership despite the buyer having no debts, they must compensate the buyer for any resulting damages.

Registration: If the property was purchased before May 21, 2024, the sales contract must be registered in the Land Registry within 6 months after the changes take effect.

Usage Certificate: If foreigners acquire more than the permitted limit, a 10-year usage certificate can be obtained for excess property, but only for residential spaces. The ownership of the land remains with the seller.

Taxes: For foreign citizens, the tax on the transfer of ownership is 9% for each property. Different rates apply to Turkish citizens.

These changes significantly expand the rights of foreign citizens in the real estate sector in Northern Cyprus.