Cyprus Property

[Nigel Howarth]

You will find that all pre-1974 Title Deeds, regardless of whether properties are owned by Turkish or Greek Cypriots, or non-Cypriots were issued by the Government of the Republic of Cyprus.

I say again Turkish Title Deeds are only recognised by the occupying regime & Turkey.

It's very easy to spot the difference: Turkish 'Title Deeds' (or Kocan) are written in Turkish. Title Deeds issued by the Government of the Republic of Cyprus are in Greek.

Did you deliberately miss out the pre-1974 date in your posting to try and confuse people here - or was it an honest mistake???

"Certainly looks like this is a better time than EVER to buy in North Cyprus !! Some VERY exciting times are awaiting anyone who takes the opportunity ! But Remember to buy TURKISH title deed land which is and will always be 100% guaranteed by Turkish, Greek and International Law."

 

[Cornholio]

A hypothetical question............

Nigel,

Am I correct in assuming that if I purchased a genuine pre-1974 Turkish or foreign owned property in northern Cyprus, i.e. one confirmed as such by the legitimate Land Registry office in south Nicosia, I would have to obtain an official ROC title deed to that effect in recognition of their internationally recognised de jure jurisdiction over the whole island (subject to a nominal administration fee)??

I'm pretty sure that any genuine & confirmed pre-'74 property transactions in the north must be legally backed up as such in the south. It is universally agreed that all other "title deeds" issued by the so-called "government" of northern Cyprus are not internationally recognised and are therefore, in legal terms, frankly not worth the paper they are printed on. I'm sure even Pete agrees with this!!

Here's to a reunited Cyprus

Cornholio

 

[Sally456]

Good property agents for Cyprus

Hi Jonny

All estate agents in Cyprus now need to be registered with local authorities as you probably already know by now. All i would say is i recently purchased an apartment in Pissouri with a leading UK based property portal and can only say everything went through without a hitch and im looking forward to enjoying many relaxing holidays on the island in the coming years.

Goodluck
Sally

 

[Nigel Howarth]

Am I correct in assuming that if I purchased a genuine pre-1974 Turkish or foreign owned property in northern Cyprus, i.e. one confirmed as such by the legitimate Land Registry office in south Nicosia, I would have to obtain an official ROC title deed to that effect in recognition of their internationally recognised de jure jurisdiction over the whole island (subject to a nominal administration fee)??

Yes. The 'nominal administration fee' are the Property Transfer Fees. These are calculated on a sliding scale based on the market value of the property at its date of purchase and become payable when Title to the property is registered in your name.

The fees are calculated as follows:

3% - on the first € 85,430

5% - on the next € 85,430

8% - on the remainder​

So for a home costing € 200,000, the Transfer Fees would be € 9,165.60; for a home costing € 400,000, the Transfer Fees would be € 25,165.60.

If your Contract of Sale is in joint names (e.g. a husband and wife),the lower rates are granted to both parties, i.e.:

3% - on the first € 170,860

5% - on the next € 170,860

8% - on the remainder​

As a result, the Property Transfer Fees for a home costing € 200,000 in joint names would be € 7,457.

There may be other charges as well - as you may appreciate, buying a genuine pre-1974 Turkish Cypriot or foreign owned property doesn't happen too often!

Cheers,

 

[Nigel Howarth]

All estate agents in Cyprus now need to be registered with local authorities as you probably already know by now.

Anybody wanting a list of legally registered real estate agents in Cyprus can find it in the Download area of the Resource Centre on my main website (to get there, just remove the news. from the link in my sig below).

Cheers,

 

[Cornholio]

Nigel,

Quote:- The 'nominal administration fee' are the Property Transfer Fees. These are calculated on a sliding scale based on the market value of the property at its date of purchase and become payable when Title to the property is registered in your name.

Which "market value" are we talking about here? North or South? Preferably North, bearing in mind that property prices there are about half of what they are in the South.

Thanks for the previous feedback!!

Cornholio

 

[Nigel Howarth]

Which "market value" are we talking about here?

The market value is assessed on the basis of similar properties in the same area.

Cheers,