The Turkish Republic of Northern Cyprus

astro941

I have visited TRNC several times but I am unsure of buying property there. I would be grateful if anyone could share their own personal experience of buying there. What is the best way to go forward.

breadlinebetty

Very dangerous! Lots of people have lost THOUSANDS buying property in north Cyprus, due to the fact most of the properties built post 1974 are illegally built on what is effectively Greek soil.

The land is a no-mans land, and the title deeds to much of north Cyprus belongs to the Greeks in the south. Many of the Greeks have successfully gone to court and forced the people who have bought these properties on their land to have them demolished.

If you buy a property that was built pre 1974 then legally it should be safe, but the problem you have with those properties are they're usually tatty and unkempt and not built to earthquake requitements.

My advice would be not to even consider buying there. Same with Turkey - it's dangerous buying there too. It's full of illegally built properties that belong to the bank rather than the seller or developer - and thousands of unsuspecting Brits have lost all their life savings purchasing in Turkey.

Give both countries a VERY WIDE BERTH!:money:

BananaBread_2

How about looking in the South of the Island (the best side:j). Most of my family live there and own property and have never had any problems.

I would echo the above though and give purchasing property in the North a wide berth. Not only is it a dodgy investment but you may want to consider the ethics of passing money to a government that is illegally occupying another (that's a whole other kettle of fish though and I'm sure a lengthy debate could ensue regarding just that!).

Best of luck wherever you decide to buy.

astro941

Wow, I am not sure about the South, I am attracted to the North because of high intrest rates and I would not wish to live in the Euro zone. I'm sure that I read in a newspaper somewhere that a bank in the South were evicting some people because they had allowed a builder to take out a mortgage on the land, after the property had been built and paid for by the occupier. The builder, apparently had not paid the loan back and the bank forclosed on the loan. Crazy but I have heard that this is all so done in the North.

Thanks for you comment

mjdh1957

Hmmmm.... given a choice between a country in the European Union, and an illegal regime recognised by only one country, with a history of land tenure problems caused by people illegally taking property from the previous owners, I really, really don't know which one would be the safer investment. Do you?

Maybe I am being a touch sarcastic and cynical, but then again, I've read about Northern Cyprus in the newspapers.

C_Mababejive

Just my opinion but i visited Cyprus once and found it to be not particularly pleasant or welcoming.

Angelicdevil

I've been all over Cyprus since I was very young child. Personally, I prefer the North side. The South side has been ruined by British tourists. I remember very clearly when Ayia Napa was just a small fishing village with a handful of hotels and the beach was empty for miles.

Anyway, reminiscing aside.....

My father bought land in Northern Cyprus, he had no issues with getting the relevant legal docs from the relevant authorities but he had huge issues with the English guy who was "managing" the development. In the end he sold the plot 7 years after buying it.

And to those slating the Turkish for illegal occupation - neither side was innocent! There are a few mixed settlements on both sides and you will find that the majority have no issue with each other and many Greeks I've met aren't interested in getting "their" land/property back because they have new lives. The same goes for the Turkish people who lost homes/land in the South side!!!!

It's just politics, both sides have paid for what those above them decided.

Gonzo33

C_Mababejive wrote: »

Just my opinion but i visited Cyprus once and found it to be not particularly pleasant or welcoming.

North or South? I live in Southern Cyprus at the moment and I don't find it to be either particularly.

We are moving back to UK this year though, and would not choose to stay here.

OP I wouldn't buy in Northern Cyprus for all the reasons mentioned above.

inmypocketnottheirs

The occupied territory of TNRC is only recognised by the Turks.

Anyone considering investing their hard earned money in an occupied territory really does need their heads examining.

murphydog999

If you are interested in living in the TRNC I would suggest you rent first, get to grips with the way of life, the good, the bad and the ugly - in the form of estate agents and builders. Get to know about land titles and what they mean.

A lot of people have lost their money and homes through unscrupulous practice - something that IS just as prevalent in the south, Spain, Bulgaria etc etc - but there are estate agents that only deal with re-sale properties that have ALL their legit paperwork and FULL title.

From the previous posts anyone would think it was hell on earth, and the Turkish Cyps owned absolutely !!!!!! all, but this is far from the case. If you can take the time to do your own research and talk to people you can make an informed judgement rather than get the 'media perception' and endless 'what did we do?' diatribe that comes from the south.

I'm not starting a political argument, but there are 2 sides to every story, the TRNC is a beautiful place - it has it's fair share of problems, but who doesn't nowadays - but you need to do loads of 'on-the-ground' research.

ognum

I have friends who have bought land and built in Northern Cyprus, would they do it again? No

I have friend who own a property in Greek Cyprus, would they buy again? No!

So I suggest as others have that you rent for a while and make your Ming up that way.