Isatis 5 | Famagusta | Northern Cyprus

Isatis 5 Famagusta is an apartment project by Isatis Construction Group that the developer places in the Karakol region of Famagusta (Gazimağusa), Northern Cyprus, with two-bedroom apartments of 75 and 80 m² and a two-bedroom penthouse of 151 m² with a 58 m² terrace.

This guide to the Isatis 5 Famagusta project sets out what the developer’s own pages state, adds area and legal context from official sources, and names every gap, because the developer publishes no price, completion date, unit count or title-deed category. All facts are dated 17 October 2026, and any rule that depends on a temporary decree is labelled as such.

Overview of the Isatis 5 Famagusta project

The developer’s English project page says the building stands in the Karakol region, which it calls the centre of Famagusta city, and that shopping centres, the university, hospitals, restaurants, the seaport and the seaside are quickly accessible. It adds that a sea view is possible from the flat, without saying which units or floors have one. The Turkish page repeats the same statements and the same figures.

The apartments are described in the developer’s words as “2 bedrooms luxury apartments” with modern architecture and high-quality materials; this guide reports that wording and does not test it.

Three layouts are listed: Type A with one bathroom, Type B with one bathroom, and the penthouse with two bathrooms. Because the page gives no unit count, no number of floors and no price, those cells are recorded as not stated or not published instead of being estimated. The developer also says a two-year rental guarantee at 6% will be offered to customers; that sentence is marketing, its terms are not published, and nothing in this guide relies on it.

The page is short, so most of what a buyer needs lies outside it. The sections below therefore cover the size arithmetic, the Karakol ward and its surroundings, the questions that a penthouse with a terrace raises, the steps and deadlines for a foreign buyer as of 17 October 2026, a document checklist and a comparison with the developer’s other projects. For the wider market, see the Northern Cyprus properties page on this site.

Isatis 5 Famagusta unit types and sizes

The developer lists two apartment types and one penthouse. The table gives each figure exactly as the page prints it; nothing in it is converted or rounded.

The second table is calculated from the developer’s figures, with the arithmetic in the last column. It is a way of reading the listing, not a published specification.

Type B is 5 m² larger than Type A, a difference of 6.7% of the Type A area (5 / 75). Both apartments have the same bedroom and bathroom count, so the extra area is the only listed difference between them. The page does not say where it sits, and it names no balcony, terrace or garden for either apartment type.

The penthouse is 2.01 times the Type A area and 1.89 times the Type B area, which is 76 m² and 71 m² more respectively. That jump is larger than the layout alone explains, because the penthouse keeps the same two bedrooms and adds a second bathroom and a terrace.

This is why the basis of the 151 m² figure matters. If the figure includes the terrace, the interior is 93 m², or 46.5 m² per bedroom, only 13 m² more than Type B. If the terrace is extra, the unit is 209 m² in total, or 104.5 m² per bedroom.

The page does not say which reading applies, and it does not say whether any size is gross or net.

Two oddities in the developer’s material should be kept in view. The plan tabs name two penthouse variants, Penthouse Type A and Penthouse Type B, while the page shows one penthouse specification, so it is unclear which variant the 151 m² belongs to. The Turkish page labels the penthouse “çatı katı”, meaning roof floor, which suggests a top-floor unit, but neither page states the floor or the number of storeys in the building.

For orientation only, the developer lists a penthouse of 83 m² with a 50 m² terrace at Isatis 4. The Isatis 5 penthouse area is 1.82 times that figure (151 / 83), and its terrace is 1.16 times as large (58 / 50).

Those are ratios between two listings and do not say that one is better or worse value; neither page publishes a price. A buyer comparing units should ask each developer for the net internal area, the terrace area and the price on the same basis, in writing.

Location of Isatis 5 Famagusta: Karakol and the places around it

The developer places the project in the Karakol region and calls it the centre of Famagusta. Municipal sources describe the historic centre differently: it is the walled quarter, Suriçi. Gazimağusa Municipality’s account of the city’s growth says that after Eastern Mediterranean University (EMU) became a state university in 1986, building spread north and north-east, with dense development in Sakarya, Karakol, Baykal, the area north of Salamis Road and Tuzla (Gazimağusa Municipality, city history).

Karakol is therefore more accurately a built-up northern ward beside the Walled City. The 2011 census counted 7,046 residents in Karakol, the second-largest ward after Sakarya with 7,647 (TRNC Statistical Institute, census table). In public map data the ward centre lies 2.9 km in a straight line, or 3.7 km by road, from Namık Kemal Square in the Walled City.

No plot, street or map pin is published, so every distance here is measured from the Karakol ward centre in OpenStreetMap data, not from the building. Straight-line figures are haversine distances between published coordinates; road figures are OSRM estimates and indicative only. A buyer should ask for the plot position and measure again.

The municipality of Gazimağusa had 40,920 permanent residents at the census of 4 December 2011, the latest full count, and the district 69,741. The State Planning Organisation’s 2020 projection, quoted by the municipality, is 55,868, with more than 20,000 university students and staff also living in the city for most of the year (municipal history page); Wikipedia gives 55,648 for 2019. A projection is not a count, so the series are not blended. For the city as a whole, see the Famagusta page on this site.

Education is the usual demand argument for Karakol, and the official numbers are more mixed than the argument suggests. EMU enrolment was 15,729 in 2024-25, down 5.5% from 16,640 in 2021-22, and TRNC higher-education enrolment fell 8.0%, from 114,000 to 104,873 (Statistical Yearbook 2024).

EMU’s handbook says its 19 dormitory complexes hold about 10,000 students and that others rent privately (EMU Information Handbook 2024). The gap of 5,729 between 15,729 students and about 10,000 places is arithmetic, not an official statement of a shortage, and no source used here states one. This guide makes no claim about rising rental demand.

The State Hospital serves Gazimağusa and Yeni İskele and is the TRNC’s second-largest state hospital after the Nicosia one. City Mall’s operator lists 65 stores and more than 130 brands, open 10:00 to 22:00 daily. The municipality runs free bus lines serving the Walled City, the EMU campus and the Thursday market (municipal bus page); none is stated to serve a specific Isatis site.

For travel, the Free Port handled 107 ship calls in 2023. Ercan Airport is about an hour away by road. The Nicosia-Famagusta road is the busiest route in Northern Cyprus, with average daily traffic reaching about 40,000 vehicles (Turkish Highways Directorate); whether it is a motorway was not verified. Sources conflict on a passenger ferry between Famagusta and Mersin, so none is claimed, and no road distance to Larnaca Airport is given because it depends on the crossing point used.

The nearest official climate series is the Cyprus Department of Meteorology station at Paralimni, about 7.4 km from the Walled City. For 2002-2011 its mean daily maximum ran from 15.9 °C in January to 33.3 °C in August, and the monthly rainfall means sum to 331.1 mm (WMO World Weather Information Service).

Sea temperature at Famagusta runs from 17.2 °C in February to 29.0 °C in August according to an aggregator (seatemperatu.re). The developer’s sea-view statement cannot be tested, because the sources give no distance from Karakol to the shore. For beaches across the island, see the guide to the top 10 beaches in Cyprus.

Heritage and a sensitive neighbour complete the picture. The Walled City dates from the Lusignan period and was rebuilt by Venice, with Othello Castle guarding the harbour (Wikipedia). Varosha (Maraş) lies 3.8 km in a straight line from the Walled City centre.

The United Nations report of 5 January 2026 records no steps to reverse the actions taken since October 2020 and no significant change in the 3.5% of the area whose military status was lifted in July 2021 (UNFICYP report S/2026/8), and the Security Council has called any settlement of Varosha by people other than its inhabitants inadmissible (UN News).

The developer places Isatis 5 in Karakol, not in Varosha, but a buyer should confirm the exact plot on the Land Registry.

Penthouses, terraces and residence rights at Isatis 5 Famagusta

The listing offers one penthouse, with two bedrooms, two bathrooms, 151 m² and a 58 m² terrace. The Turkish page calls the unit “çatı katı”, a roof floor, and the plan tabs suggest two variants. The terrace is the only outdoor space that either page lists for any unit at Isatis 5.

The page leaves four things open: whether the terrace is inside the 151 m², whether it is covered, whether it is private to the unit, and how it is reached. Each is a question for the written specification and the signed floor plan.

Before any permit application, condominium title or a condominium easement must exist for the unit, because selling without it is an offence under Law 52/2008 (Law 35/2010 governs the title). The decree allows, for two years, an application with a building permit or a Planning Approval where condominium title could not be established (Law 52/2008, consolidated text; Resmi Gazete No. 147). A buyer of the penthouse should see whether the terrace appears on the unit plan attached to that title.

Size also drives some running costs. Under the VAT regulation updated on 7 October 2026, housing with a closed area of up to 300 m² falls in the 5% schedule and housing of 300 m² or more in the 10% schedule; renting immovable property is at 0% (VAT regulation).

Even the larger reading of the penthouse, 209 m² with the terrace, stays below 300 m² (calculated), and a terrace is open space, so the 5% band would be the relevant one if VAT applies to the sale at all. The regulation does not say which sales are within VAT. The annual immovable property tax follows the Tax Department’s 2025 schedule, the latest found: a base of TL 6.60 per m² up to 120 m² and TL 7.15 per m² above 120 m², before surcharges of 10-60% by category (property-tax schedule).

The table shows the base amounts that arithmetic gives; the schedule does not say whether a terrace is measured, and a 2026 schedule was not located.

Letting a penthouse in short stays brings separate rules. Under the Holiday Houses Law, a lease for tourism purposes of up to 60 days of a unit built as housing requires registration with the Tourism Planning Department and an operating permit before letting, and operating without them is an offence (Holiday Houses Law). See also the guide to renting a property through Airbnb.

Residence rights are the other half of the question, and the price matters because the thresholds are in pounds sterling. As of 17 October 2026, the Residence and Visa Regulation (consolidated 5 October 2026) ties the property-based short-term permit to a GBP 300,000 threshold, and the Permanent Residence Law 51/2015 (consolidated with 41/2026) sets a EUR 125,000 housing value for permanent residence.

Because Isatis 5 has no published price, no route can be said to apply. As a purely arithmetic illustration, if a property value were exactly GBP 300,000, one-third of it, the portion that must be paid for a contract-based permit, would be GBP 100,000 (calculated).

The routes are set out in the table (Residence and Visa Regulation; Permanent Residence Law; Citizenship Law 25/1993). The practical background is on the residency programme and citizenship and immigration pages.

What ownership does not grant is as important. The European Commission states that EU legislation is suspended in the areas of Cyprus where the Republic’s government does not exercise effective control (European Commission). UK Government travel advice states that the Republic of Cyprus does not recognise residence permits issued in the north and that the UK does not recognise the “Turkish Republic of Northern Cyprus”, and that consular support there is limited (FCDO regional risks).

The same advice says a person who enters the Republic of Cyprus via the north is considered by its authorities to have entered illegally (FCDO entry requirements). Nothing in the TRNC purchase or residence law confers EU citizenship, and a permit is not a right to buy: UK guidance notes that a foreign buyer may be refused permission with no reason given (UK Government property guidance).

The numbers a buyer may own are also limited. As of 17 October 2026, Decree-Law 89/2026 (Resmi Gazete No. 147, 7 August 2026) allows a foreign buyer up to 3 apartments, or the land and villa options it lists, and the same decree caps sales of housing projects in zoned areas at 80% to foreigners.

The decree is a Council of Ministers instrument with a 90-day validity that ends about 5 November 2026 unless Parliament enacts it, and the consolidated Law 52/2008 on the legislation portal still shows the stricter text of one apartment (Resmi Gazete No. 147; Law 52/2008).

Which text applies on the day of signing is a question for a lawyer.

The ordered checklist below is for the penthouse and its terrace; a lawyer can add to it.

1. Ask for the signed floor plan with the terrace dimensioned, and ask in writing whether the 151 m² includes the 58 m².
2. Ask which penthouse variant the plan tabs call Type A or Type B the 151 m² belongs to.
3. Ask whether the terrace is private to the unit, whether it is covered, and how it is reached.
4. Ask for the condominium title or easement document and check that the unit and its terrace appear on it.
5. Ask for the building permit and the final approval status of the block.
6. Ask for the written specification of finishes and services, which the project page does not provide.
7. Ask which units have the sea view the developer mentions, and from which floors.
8. Ask for the price per square metre on a stated basis, with and without the terrace.

Buying property in Northern Cyprus in brief

A purchase by a foreigner runs through several offices, each with a clock. The table follows one sale from the first search to registered title, as the rules read on 17 October 2026 under Decree-Law 89/2026 (Resmi Gazete No. 147, 7 August 2026) and, where it differs, the consolidated text of Law 52/2008.

The decree re-issues Decree-Law 63/2026 of 11 May 2026 because Parliament was in recess; its 90 days end about 5 November 2026 unless Parliament enacts it, so each deadline below depends on the decree being in force or enacted.

Money follows the same order. For a foreign buyer, the Land Registry fee schedule in Resmi Gazete No. 197 of 7 October 2026 sets 4% in total for a first property (3% transfer, 0.5% Immovable Property Commission, 0.5% Housing Acquisition Unit), 5.5% for a second and 6% for a third.

It is valid only until 5 January 2027 inclusive, so a purchase that closes later needs a fresh check (Resmi Gazete No. 197). The fee is paid by the person registering title. The developer’s FAQ describes a 2% and 2% split between seller and buyer, which could not be matched to the official schedule.

Agency pages quote 6%, 9% and 12%, drawn from earlier rules or other bases, and quotations differ, so they are not used here (Haber Kıbrıs report).

Currency is a quiet cost. The lira is the local currency, and the Central Bank’s effective selling rate for sterling was TL 66.1047 for 17-19 October 2026 (TRNC Central Bank). The consumer price index rose 35.02% over the twelve months to September 2026 (Statistical Institute). Stamp duty on a foreign-currency contract is computed in lira at the official effective selling rate on the stamping date. For a broader view of expenses, see the guide to the cost of buying, building and renting in North Cyprus.

Two details are easy to miss. Foreign nationals may buy through a power of attorney issued under Northern Cyprus rules, according to the developer’s FAQ, so presence on the island is not a condition. And local authorities may not connect water or electricity permanently until the taxes and fees are paid, which turns a missed fee deadline into a practical problem as well as a legal one.

Risks, title and due diligence

The risks in Northern Cyprus are not hidden, and official sources describe them in plain terms. UK Government guidance says ownership of many properties in the north is disputed, with thousands of claims from people displaced in 1974, and that purchases of such properties could have serious financial and legal implications. It also lists problems common in Cyprus generally: lawyers acting for both vendor and builder, building without correct permits, payment plans left out of contracts, and difficulty obtaining final completion certificates and title deeds (UK Government guidance).

Title is the central question, and Isatis 5 gives no category. The developer’s page uses the words “Turkish title deed” without defining them or naming a category, and this guide does not treat the phrase as a verified category. The Land Registry’s fee schedule distinguishes land registered under a Final Disposition Certificate from points held under Value Documents, which confirms that equivalent-property titles exist beside ordinary titles (Resmi Gazete No. 197).

No official table defining “Turkish”, “exchange” or “allocation” title was found online, and one agency guide advises that a lawyer obtain an official search report (Tekce guide). For a plain-language explanation, see the guide to the most secure title deeds in Northern Cyprus.

Court decisions give the legal background. The European Court of Human Rights treated the Immovable Property Commission as the remedy to use first for Greek Cypriot claims (Demopoulos decision, 2010), and the Immovable Property Commission itself reports 8,807 applications, 3,757 concluded, as of 2 October 2026 (Immovable Property Commission).

The Court of Justice of the EU held in 2009 that judgments of Republic of Cyprus courts on land in the north can be enforced elsewhere in the EU (Case C-420/07). The Republic’s criminal code has made certain dealings in property without the owner’s permission an offence since 20 October 2006, according to UK guidance, and a press report quotes the Republic’s chief negotiator on arrests in 2024-2025 (Cyprus Mail).

None is a finding about Isatis 5.

Construction quality is a further check. A statement of 14 February 2023 by the president of the Cyprus Turkish Chamber of Engineers and Architects says all structures need static calculations to the earthquake regulation and that project approval checks seismic compliance (Yenidüzen). The table lists what to request and where to verify it.

How Isatis 5 compares with the other Isatis projects

The developer’s seven new listings differ in area, unit mix and sizes, and the table sets them side by side as the developer publishes them, together with the Orchard complex.

The differences are factual and do not rank the projects. Within a single project, Isatis 5 spans 76 m² between its smallest and largest unit (151 – 75, calculated), the same span as Fiora (168 – 92) and far more than Isatis 1, 2, 3 or 4, whose spans are 5, 20, 20 and 18 m².

The penthouse accounts for the spread. Isatis 3 and Isatis 5 are both placed in the Karakol region, with almost the same location wording and a similar rental statement, but the pages do not say how far apart the sites are, so they should not be assumed to be neighbours.

Of the seven new listings, only Isatis 1 and Isatis 2 give a unit count. The villa projects, Sunrise and Orchard, sit in Yeniboğaziçi, whose village point is about 10.1 km in a straight line from the Walled City. Fiora’s site is not stated at all.

The developer’s menu also lists Elysium 1, Elysium 2, Infinity and Hillside, which have their own listings: Elysium, Elysium 2, Infinity and Hillside. Other Famagusta listings on this site include Sakarya Gardens, Urban Oasis and Aura Gardens. No source used here places any of them relative to Isatis 5, and a comparison would need the same facts for each: area, unit sizes, price, completion and title category.

Isatis Construction Group

On its About Us page, the developer states that Isatis Construction Limited has operated in the construction industry since its establishment in North Cyprus in 2015, and that it builds and sells apartments and villas in Famagusta and Yeniboğaziçi. It says it is working on projects in those regions. It describes Isatis Construction Group as an engineering and construction company run by experienced engineers, and says it uses environmentally friendly materials of high quality.

The page also makes service statements. It says the company is in constant communication with customers before and after sales, supports investors in all procedures at the contract stage, and assumes the management of the projects it delivers. These are the developer’s own descriptions; the sources used here contain no independent audit of the company or list of completed projects. The counters for projects and completed properties on the About Us page read as zero in the retrieved copy, so no count is taken from them.

The project pages give a company address in the Orchard complex in Yeniboğaziçi, repeated on every page including those of central Famagusta projects, so it does not locate the Isatis 5 building. The developer’s FAQ states that a purchase can be made before arriving on the island by power of attorney, that foreign buyers need a Council of Ministers permit, and that banks may lend against suitable property; those statements are used above with attribution, and the legal points are checked against official texts.

Frequently asked questions

Where is Isatis 5 Famagusta?

The developer places the project in the Karakol region of Famagusta, which it calls the centre of the city. No street, plot or map pin is published. Public map data put the Karakol ward centre 2.9 km from the Walled City in a straight line and 3.7 km by road, and 1.2 km from the EMU campus. Those are ward-level figures, not measurements from the building. Karakol is a built-up northern ward, not the historic centre; the plot position should be requested in writing.

Which unit types and sizes does the Isatis 5 Famagusta project list?

The developer lists Type A, a two-bedroom apartment of 75 m² with one bathroom; Type B, a two-bedroom apartment of 80 m² with one bathroom; and a two-bedroom penthouse of 151 m² with two bathrooms and a 58 m² terrace. The page does not say whether the sizes are gross or net, how many units exist, or how many floors the building has.

Is a price or payment plan published for Isatis 5 Famagusta?

No. The developer’s page gives no price, deposit, instalment schedule or completion date, and the sources used here contain no independent price for the project. Official statistics also lack a house-price index for the TRNC. Any figure a buyer receives should come from the developer in writing, stated in a named currency and on a named basis, and should be set against the fee and tax rules that apply on the closing date.

How large is the penthouse terrace compared with the interior?

The terrace is 58 m². If it is included in the 151 m² listed, it is 38% of that figure (58 / 151) and the interior is 93 m². If it is extra, the total is 209 m² and the terrace is 28% of it (58 / 209). These are calculated from the developer’s figures. The page does not say which reading is right, so the question should be put to the developer in writing and answered on the signed floor plan.

How many apartments may a foreigner buy?

As of 17 October 2026, Decree-Law 89/2026 (Resmi Gazete No. 147, 7 August 2026) allows up to 3 apartments for a foreign buyer, and 6 for nationals of states that recognise the TRNC. The consolidated Law 52/2008 still shows one apartment. The decree is a Council of Ministers instrument whose 90-day validity ends about 5 November 2026 unless Parliament enacts it, so the rule on the signing date should be confirmed with a lawyer.

How long does the purchase permit take?

No law read for this guide sets a time limit for the Council of Ministers’ decision. Only the developer gives durations, in its FAQ: 1-2 months for Turkish citizens and 6-8 months for other nationalities, with no official source found for either. Once the contract is stamped, the decree requires registration at the Land Registry and the permit application within 1 month, so the clock that is certain starts with the contract and not with the decision.

What Land Registry fee applies to a foreign buyer?

Resmi Gazete No. 197 of 7 October 2026 sets 4% in total for a first property, 5.5% for a second and 6% for a third, for foreign buyers. The schedule is valid only until 5 January 2027 inclusive. Agency pages quote other figures, including 6%, 9% and 12%, so quotations differ, and the developer describes a 2% and 2% split between seller and buyer that does not match the official text, which says the registering person pays.

Does buying at Isatis 5 give residence, EU rights or citizenship?

A property can support a residence permit, with a 5-year or 10-year term depending on value and on whether title or only a contract exists, but the price here is not published, so no tier can be named. Buying does not give EU rights: EU law is suspended in the north, and the Republic of Cyprus does not recognise permits issued there. TRNC citizenship needs five years of residence, and no provision makes buying a home an automatic route.

Is student rental demand rising near Karakol?

The official figures do not support that claim. EMU enrolment fell from 16,640 in 2021-22 to 15,729 in 2024-25, and TRNC higher-education enrolment fell from 114,000 to 104,873. EMU’s dormitories hold about 10,000 students and others rent privately, but no source used here states a housing shortage or gives a rent index. A buyer relying on rental income should test any figure against a written rental history.

What should be checked before reserving a unit?

Start with a Land Registry research document, the condominium title or easement, the building permit and final approval, and the title category. Then confirm the contract is stamped and registered within one month, that the fee schedule fits the closing date, and that the terrace, sea view and specification are in the contract. Use an independent lawyer, not the vendor’s, and keep every answer from the developer in writing.

Sources and last check

Last checked: 17 October 2026. Sources: the developer’s Isatis 5, About Us and FAQ pages on isatis.co and the Turkish page on isatis.com.tr;

• Law 52/2008
• RG 147
• RG 197
• Interior Ministry documents
• Land Registry notice
• Residence Regulation
• Law 51/2015
• Law 25/1993
• Stamp Duty Law
• VAT regulation
• Minimum wage
• Property tax 2025
• Holiday Houses Law
• Immovable Property Commission
• ECHR Demopoulos
• CJEU C-420/07
• European Commission
• UK property guidance
• UK regional risks
• UK entry requirements
• Statistical Yearbook 2024
• Census 2011
• CPI September 2026
• Municipality city history
• Municipality history
• Municipal buses
• EMU handbook
• WMO Paralimni
• Highways Directorate
• State Hospital
• UN S/2026/8
• UN News
• Central Bank
• City Mall
• OpenStreetMap
• OSRM
• Isatis FAQ
• Ercan (Wikipedia)
• Fortifications (Wikipedia)
• Sea temperature
• Haber Kıbrıs
• Cyprus Mail
• Tekce
• Yenidüzen

Rules and rates are stated as of 17 October 2026; several depend on Decree-Law 89/2026 or on schedules ending 5 January 2027. This is not legal, tax or financial advice.