New Social Housing Law Published in Northern Cyprus
A new regulation governing the purchase of social housing under the "Housing Acquisition Law" has been published in Northern Cyprus. Additionally, the Official Gazette has released a draft law aimed at encouraging the inflow of foreign currency and Turkish lira into the TRNC economy.
Prime Minister Ünal Üstel announced the relaunch of affordable housing programs, designed to help young families purchase homes at reasonable prices.
The regulation outlines the application process and the lottery system for mortgage-based housing distribution. Eligible citizens will be able to apply for apartments ranging from 60 to 140 square meters. The application deadlines will be announced in official notices, which will be posted in village coffeehouses.
Furthermore, the Official Gazette has also published a draft law on attracting foreign capital. The initiative aims to encourage the inflow of foreign currency and tax payments, strengthening economic liquidity and increasing government revenue.
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