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Buying in North Cyprus

Discussion in 'Cyprus Property' started by drew, Aug 23, 2006.

  1. drew

    drew New Member

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    I holiday there every year and I can assure you people have heard and are buying/ building in DROVES. It's a great country, the lifestyle is more relaxed than mainland Turkey (yes, it is possible!) and people are buying for exactly the same reasons as Turkey (entry for Turkey to the EU will likely quadruple house prices).

    Just wondering... no-one else looking at North Cyprus?!
    Thanks
    Drew
     
  2. fabian

    fabian New Member

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    I agree with you, but now that the politics are changing there are stories of Greeks coming back to claim old property and some people have been caught.
    Thanks
    Fabian
     
  3. Ceyhun Tunali

    Ceyhun Tunali New Member

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    I understand about what you think about buying houses in North Cyprus.Do not let them to threaten you.Do not think someone will come and get your home back from you.These are just for confusing people brain.Belive me there will be no agrement in North Cyprus and North Cyprus will grow up.The greek cypriot do not want any agrement.We sayed ok.We sayed come and signed the agremant,but they did not come,because they think they are going to be the owner of the All Cyprus.I live in Cyprus.I am 26 years old.You know whats the truth,My father says that he is 61 years old.We saw too much agremant on this island when he was 20-30-40-50 years old.But the greek cypriot dıd not want to give us anything.So ı hope ı can explain little bit things to you.my english is not enough to explain everything.BUt just belive me.Take care.Best regards
     
  4. deedee1

    deedee1 New Member

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    Re: Property Rights!

    :) Hi all,

    I have heard the horror stories aswell about greeks coming back to get their land properties back!

    But I went over to NC to check up on my property anfd have a look around the island for a couple of days- which was great so beautiful over there I was impressed by the scenery!

    I was told that south and north laws are different and greek-cyps are not and should not be over enforcing people to leave their properties as they are not by north rules and trnc law aloud to do this!
    Both parts of the island are run by different governments- so you dont see turk-cyps going to the south and being handed it back by the greek-cyps do you??

    Personally I think its a case of GCs wanting one rule for them and a different rule for TCs- as per usual!!
    It has to be a case of one rule for all if the future of the island is to be equal!

    See ya D :)

    P.S- If you get GCs knocking on your door then you should contact the trnc goverment or law enforcement to see where you stand first!
     
  5. deedee1

    deedee1 New Member

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    Re: North Cyprus Article!

    :) Hi all ,

    Just found a recent update and property news article on what the EU & Germany are doing to help TRNC to lift isolations- Wonder if this attempt will work or not???

    German boost for TRNC property market?

    The German Federal Parliament has unanimously approved a bill on Cyprus which will aim to find a solution to the conflict between Greek and Turkish Cypriot nations as soon as possible, writes Jo-ann Hodgson.
    As recently reported by World of Property , the southern Cyprus property market is currently booming and has seen an upsurge in interest from British buyers this year. However, political troubles in the Turkish Republic of Northern Cyprus (TRNC) have put many potential property buyers off buying in the north.

    However, a bill passed by the German Federal Parliament, the Bundestag, demands that: the isolations on Turkish Cypriots be lifted; the EU Commission works towards special Direct Trade Regulations with TRNC; the troops are steadily demobilized and the Greek Cypriot side put in efforts to get the embargoes abolished for the Turkish Cyrpiot Parliament, administration, public offices and educational media. All of these measures, if successful, will make the TRNC a more stable market in which to invest in property.

    That the Bundestag has passed the bill is significant because the German chancellor, Angela Merkel, is currently president of the G8 international forum and effectively has a directing hand in the discussions of the group of eight countries – Germany, Canada, France, Italy, Japan, Russia, the United Kingdom and the United States. Germany is also presiding over the European Union for the first six months of this year.

    Lale Akgun, a Social Democratic Party member of the German parliament, declared that: "The southern side of Cyprus is an EU member state and accustomed to getting its demands met. The northern side of Cyprus is an unrecognised region under isolations and here people live in difficulty. Namely, there is no balance. We wanted to go a step ahead in this issue."

    She also said that the TRNC should firstly reach economical independence to fulfil the demand of "being independent of Turkey."

    This is potentially good news for those involved in the Northern Cyprus property market. "Northern Cyprus for the first time has been invited to sit with the EU: They are not allowed to vote as yet but this is a massive turning point," said Jennifer Horabin, Director of C&T Construction & Estates. "Germany has the reign of the EU this year and they are discussing lifting isolations from Northern Cyprus and how it is mandatory. In short, when this takes place land and property will increase dramatically which is why the shrewd investors are investing now."

    6th June 2007


    See ya D :)
     
  6. charis

    charis New Member

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    It is illegal to buy in North Cyprus

    It is illegal to buy property or land that’s rightfully owned by Greek Cypriots. There are many Greek Cypriots living in the south who are refugees from the north and who believe that even visiting the north while it’s still under Turkish control is morally wrong.

    WARNING
    If you decide to buy property in northern Cyprus, you must ensure that you will have legal ownership of the land and property that’s being sold to you, even if Cyprus is reunited. most probably you will not.
     
  7. deedee1

    deedee1 New Member

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    re: NC MARKET UPDATE!

    Hi all,

    Recent article published regarding north cyprus and its property boom!!

    Happy hunting!!

    Property Investors are Discovering the Value of Northern Cyprus Real Estate Investments
    By Built-in Administration account on 27-Jul-07 12:29.

    With the lower cost of living, unspoilt natural beauty and year round Mediterranean sun Northern Cyprus is currently attracting a wider property investment market.

    Northern Cyprus is predicted to be one of the most exciting markets in Europe for growth. The world has woken up to the potential and as a result the amount of investment and the number of people looking to invest is at an all time high. It is one of the few remaining areas of the Mediterranean providing a first rate strategy for overseas property investors. This is made more attractive due to the exemptions on income tax, import duties, corporation tax and little or no council tax.



    'The money is pouring in. You can smell it,' says one property agent with the Interior Minister, Ozkan Murat, says applications by foreigners to buy property have increased almost ten times over the last few years.

    Last year, around 1,000 overseas investors bought property in Northern Cyprus; incredibly this figure is five times the number of annual sales during the 1990s. Suggestions and reports of an upturn and growth in the Northern Cyprus property market is to escalating steadily.

    Mr Shah from the Investors Provident said: 'There's a lot more to be had, it's a lot more unspoiled than the south. The south has been very commercialised by tourists, whereas the north has remained very untouched. It's a lot more picturesque.'

    Foreign investors are buying large portions of developments with early indicators pointing to a long term upward trend. Property prices have risen significantly in the last 3 years but are still as much as 50% less than property in the south and therefore a huge opportunity for capital growth.

    Cyprus Turkish Airways have applied to the British government for permission to allow direct flights from London to Ercan airport which will also bring a positive increase to the travel and tourism economic sector.



    See ya D

    P.S - Those thinking of investing there are always positives and negative views along with conflicting information and debates about north cyprus and cyprus in general!
    But as long as you seek Good ,reputable ,independant legal advise, make sure the correct title deeds are available AND UNDERSTAND WHAT THE DIFFERENT TITLE DEEDS MEAN and very important that you do your own reserach and due diligence then you should be OK!!
     
  8. charis

    charis New Member

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    Everyone is responsible for his actions. Prices at the North part are very low. Everybody knows that. But let me give you an example. If i have a plot over there and because of the situation I live in the south part then does not give the right to anyone to sell my property.

    If i visit my village and i see that apartments are build over there because the so called "north government" gave permission then i will sue to the european court. -let me say that this formation of governemnt is illegal and EU does not regonize it, only Turkey- Greek Cypriots started filing law sues more and more lately. I personaly know someone that sue an english family beacuse they have bought a villa that was build on his land. He told me that he met this english people, they were very nice, but what he could do? They bought a house in his property. The european court has ordered them to leave the house. Be prepared to see more and more of this in the next near future. More than 80% of the land there belong to greek cypriots tha have moved in the south due to the invasion.

    What I'm saying to all of you guys is to be very carefull. Even if is cheap and on normal circumstances would be a great opportunity, it is very dangerous and you may lose all of the money you have invested. But again every one is responsible for his own actions.
     
  9. deedee1

    deedee1 New Member

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    North cyprus!!

    :)Hi all,

    Charis- I appreciate your views and do understand what you are saying!

    But the facts remain that you need to know the difference in the title deeds in order to make a more calculated, legal and moral decision!

    It is in fact 17% of the island only that is in despute and this is mainly around nicosia!

    Yes there are risks here hence why the properties and land is so cheap but like I said do so research about the past so you understand the situation on the island. Research the different types of title deeds-so you know which are safe, Medium risk, high risk and those that you just shouldnt touch!!!!! :eek:


    North cyprus is the most beautiful. unspoilt part of the island, with the best and most historical sites to visit- Kyrenia harbour is stunning!!

    See ya D :)
     
  10. charis

    charis New Member

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    The northern area of the Republic of Cyprus, under military occupation by Turkey since 1974, has been experiencing an unprecedented construction “property sale” boom. The vast majority of the properties affected by this boom are owned by Greek Cypriots who were forcibly expelled from their homes due to the Turkish invasion. These displaced people are to this day prevented by the Turkish Armed Forces from returning and repossessing their homes and properties. A recent development is that the occupied area has become a haven for corrupt and unscrupulous businessmen out to make a quick profit from the illegal “sale” of Greek Cypriot property.

    According to the 1964 Land and Registry record, approximately 82% of the privately owned land in the territory now under Turkish occupation was owned by persons belonging to the Greek Cypriot community. While persons belonging to the Turkish Cypriot community owned approximately 16.7%. That position was still obtained in 1974.

    In August 2004 Ahmet Uzun, the so-called “finance minister” of Turkey’s puppet regime in the occupied area, stated that the UN Plan provided an incentive to build on Greek Cypriot property, because persons investing in such property could have had priority over the legitimate Greek Cypriot refugee title-holder in its ownership. Such provisions were indeed an incentive, and facilitated the rush to build on usurped properties and to “sell” them mainly to British and other European citizens seeking a home in the sunny Mediterranean.

    On 23 August 2004, Turkey’s Deputy prime Minister and Minister responsible for Cypriot affairs, Abdullatif Sener, was reported by Milliyet as having stated that the amount of properties that foreigners had “bought” in the occupied areas of Cyprus had increased tenfold over the last two years!

    Nonetheless, anyone who has “bought” or is seeking to “buy” Greek Cypriot owned property in the occupied part of the Republic does so illegally, as first discovered by a British couple in October 2004. Anyone contributing to the ongoing plunder of such properties becomes a potential target for criminal and civil law suits in the courts of the Republic of Cyprus. The resulting arrest warrants and decisions could then by judicially enforced abroad.

    The rights to restitution of the properties and home of Greek Cypriot displaced persons have been recognised by the European Court of Human Rights. The Court found Turkey guilty of depriving Greek Cypriot refugees of the use of their properties. The Government of Turkey is obliged to compensate the refugees for the time period of the deprivation of use and to allow them to return home. Ankara has not done this, thus violating the fundamental human rights principles with which an EU Candidate Country must comply in order to start accession negotiations.


    …quick points
    • Four fifths of the privately owned land in the territory now under military occupation by Turkey is owned by displaced Greek Cypriots. The government of the Republic of Cyprus itself owns one quarter of the total area under occupation.

    • The European Court of Human Rights (ECHR) has upheld the rights of the displaced Greek Cypriot owners to their properties, and on a number of individual applications, the Court ordered Turkey to restore those rights and to pay compensation for the period of deprivation (Loizidou v Turkey, Xenides – Arestis v Turkey). Several thousand applications by Greek Cypriot displaced owners are currently pending before the European Court of Human Rights.

    • Pursuant to Security Council Resolutions 541 (1983) and 550 (1984), the illegal secessionist entity in the occupied areas cannot issue valid title deeds. “Certificates” so issued, are not recognized by the Republic of Cyprus nor by any other state, other than Turkey.

    • Several governments, including U.K., U.S.A., Russia, France and Germany have issued warnings on the purchase of property in the occupied areas of Cyprus.

    • Therefore, buying property in the occupied area of Cyprus could infringe upon the property rights of others involved. A violation of criminal and civil law could entangle the buyer in legal proceedings, financial damage, personal liability and the risk of losing money invested, as well as assets at home. Why then undertake such unnecessary risks?
     
  11. Journo

    Journo New Member

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    Northern Cyprus is beautiful and the Turkish Cypriots wonderful people. They just wish the mainland Turks would leave the island, give them back their jobs and land and stop interfering! There's no problem with truly Turkish Cypriot owned land/property; but the problem is the TRNC has arbitrarily issued 'new' title deeds for property that is actually owned (with all the genuine relevant and internationally-recognised paperwork) by Greek Cypriots. So some of the 'title deeds' are in fact false. You need a very good lawyer/investigator to be sure you haven't been 'conned' - and therefore in danger of actually losing your land/property down the line. If everything is 'genuine' then you'rre lucky. But there are plenty of 'buyers' who have discovered too late that they've been taken to the cleaners. You need to do your homework very thoroughly before you take this kind of risk.
     
  12. awahee123

    awahee123 Banned

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    Anybody know the implications of buying a property in northern Cyprus,where the Land has been built on without permission from the original owners?.
     
  13. kismet

    kismet New Member

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    Yes I do know the current situation regarding buying units built on GC owned land in the TRNC. Without going into the complicated and very boring political situation on the Island some 34 years has passed since the Island was divided. Since 1974 there have been numerous political initatives to resolve the situation. All have failed because the GC's want the pre 1974 status and that is just not going to happen. When the GC's voted no to the Annan plan in 2004 ( having previously agreed to it!!) that was, I believe, the last straw for the UN, US and the EU. It is now no longer possible for GC's to take foreign ( usually British) buyers of units built on former GC owned land, to the European courts because the EU, and the UN, have agreed to a Turkish Goverment initative, to set up a "Property Compensation Commission" to pay Bona fide GC former owners of land in the TRNC " current value compensation" for their land. More than 200 GC's have already taken up this offer and received good money for land which, despite all the rhetoric, was never again going to be in their possession. I believe that as time goes by most, if not all, GC former owners of land in the TRNC will take compensation from the Turkish Government.

    It should be pointed out that the Turkish Government ( more than 2 years ago) reassured all the foreign owners of units built on former GC land that they will never have to pay a penny in compensation to former GC owners. In affect the Turkish taxpayer is underwriting the compensation paid to GC's..

    So in answer to your question you can buy a villa or flat in the TRNC without worrying about the future repercussions. But there is moral issue here also so you must make up your own mind about this. Hope this helps
     
  14. awahee123

    awahee123 Banned

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    Thanks for the info kismet it is very helpful.
     
  15. Ulpian

    Ulpian New Member

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    Ulpian

    I keep seeing posts about the unspoilt nature of the north. Not true; the north has been wrecked in the past three years by a rash of chavfriendly complexes and 'developments' targeted at the be-tattooed bare chested spivs that now infest the place. If the TRNC government really wishes for a prosperous future it should be targeting the international rich. Too-small plots, augmented by low-rent building standards, are resulting in a sort of Romford outremer. The Spanish islands, and the cleverer parts of north Africa are targeting the better educated and better off population of Europe; to their advantage. A chavfest of beer and fish and chips should not be the future of one of the loveliest remaining parts of the Med. Stop the tasteless developers, and their vulgar clients, and go upmarket; and then see what will happen to the prosperity of the island. Oil prices are rising inexorably; so any Mediterranean government should be aware that within five years only the rich will be able to afford to travel; think on...
     
  16. awahee123

    awahee123 Banned

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    Well ulpian,
    I guess you are not a fan of north Cyprus.
    I have never travelled to North cyprus,I have however been to the south many times and do like it a lot.
    I was guessing the prices on the northern side would be a lot more affordable then the south,I must admit I have heard a few stories that's what makes me a bit apprehensive about investing in the North.
    I have currently already invested in Egypt and am looking for another investment around Cyprus.What would you suggest?.
     
  17. Ulpian

    Ulpian New Member

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    Buy in France or Iberia, they are accessible by train. Leave the poor north of Cyprus alone!
    As I said, in a very few years no-one will be able to afford to travel there so any 'investment' property will be a deserted wreck.
     
  18. awahee123

    awahee123 Banned

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    Whilst I wouldn't mind investing in Iberia I don't think I would be too willing to invest in France at the moment.I am looking for all year round warmth,reasonable living costs and somewhere where I would feel comfortable.
     
  19. Ulpian

    Ulpian New Member

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    You don't mean investing then, you mean 'living'. Its not the same. Property shouldn't be bought for profit, certainly not in the present climate, but if you genuinely intend to live in a place it doesn't matter if the price drops, because you won't be selling anyway. So go and have a look at north Cyprus and see what you think. It depends if you want the company of educated and reasonably cultivated people, or not. There are some interesting types in the north, but the social dynamic has, as I said before, changed lot in the past few years and the culture of many ex-pats seems based on the abundance of cheap alcohol and chips and burgers. There is no longer even a proper bookshop, which speaks a lot I reckon.

    Many of the old stagers have left the island recently and gone to either France or Turkey. I know of one or two who have left for Morocco, and one who is now living in Oman, where property can also be bought, although not cheaply. In Oman however, there is a large group of seriously interesting multinational people, and the Omanis themselves are very interesting too. But the place is expensive and very hot (too hot) in the summer.
    A friend of mine lives in both north Cyprus and the south of France, and the winter climate is not too different; perhaps a little shorter winter in Cyprus, but nothing to worry about.

    It all depends what you want. If you can get away occasionally for a bit of cultural re-charge then Cyprus is great, as a stand alone it might pall.
     
  20. awahee123

    awahee123 Banned

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    Thanks for that ulpian I think I will go and have a look,I had no idea what it was like I will look out for the chippies lol.
     
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