The Turkish Republic of Northern Cyprus

breadlinebetty

Not sure I'd call Cyprus beautiful:cool: It's got lovely weather (if you like it hot in the summer) and the winters are mild. There's a few nice beaches about, but not that many, and parts of it are very rundown in fact. The reason I wouldn't call it beautiful is that it's rather dry and barren and there's no lushness or greenery there.

But at least you know where you stsand with Northern Cyprus, it's a minefield buying and a HUGE risk, you'll probably lose all your money - and more. Turkey is probably a worse investment because the sales patter the local estate agents/developers give to naive holidaymakers who've left their brains on the plane is very slick. It's only after Brits have parted with their lifesavings buying a Turkish property and realise they've been done over that their worlds come crashing down:(

Jox

I'm sure that corruption is common in most places in the world not just Cyprus and someone not from those countries will probably be more at risk of being ripped off - there are horror stories from Dubai, Croatia, Spain, India etc, Cyprus isn't that unusual.

DaisychainK

There is no such place as "The Turkish Republic of Northern Cyprus". The area the OP is refering to is that part of the Republic of Cyprus which has been under ILLEGAL occupation by Turkey since 1974.

It is disrespectful to all Cypriots - both Greek and Turkish - to use this inaccurate name.

As for buying a property in the occupied area... Yes, there is land and there are houses without pre-1974 ownership issues - and here I assume that the OP would not be interested in property that was being sold illegally - but this is the exception rather than the rule.

Even with a clear ownership position you would then have to deal with the legal system of an illegal regime. By all accounts in the media and the opinions of the other posters here, this is not a fun experience (I'm not saying it's any better in the RoC, it's not!).

hissyfits

It does not matter if you manage to successfully buy a PRE 74 Turkish Title as foreigners will not get PTP. This means that you will pay in full for your property but never own it. The FCO now recommends that you do not buy in the North or the South. Sadly both are equally corrupt and the conveyancing laws leave you completely unprotected and a sitting duck.

On top of all this, property prices are falling because of all the bad publicity. People are desperate to sell which does make property cheap but says a lot about life in Cyprus. Certainly not an area to invest in. Read up on some of the more high profile AGA, K5 and Conor O'Dwyer's. There are hundreds more with whole developments discovering mortgages and memorandums. It has to be a NO NO.

breadlinebetty

hissyfits wrote: »

It does not matter if you manage to successfully buy a PRE 74 Turkish Title as foreigners will not get PTP. This means that you will pay in full for your property but never own it. The FCO now recommends that you do not buy in the North or the South. Sadly both are equally corrupt and the conveyancing laws leave you completely unprotected and a sitting duck.

On top of all this, property prices are falling because of all the bad publicity. People are desperate to sell which does make property cheap but says a lot about life in Cyprus. Certainly not an area to invest in. Read up on some of the more high profile AGA, K5 and Conor O'Dwyer's. There are hundreds more with whole developments discovering mortgages and memorandums. It has to be a NO NO.

Similar problems in Turkey.........people have lost THOUSANDS buying in Turkey and even those who did buy legitimately have seen the prices come tumbling down like a ton of bricks!:(

victim3

Do not buy in Cypruss is good advice. North or South, the problem is the same.

Will you trust your hard earned money and future to a country that allows an old woman to be bullied, insulted, intimidated simply because she fights for her rights.

victim3

WITHOUT PREJUDICE

AKFINANS the bank that likes to say 'GET OUT'

victim3

CYPRUS is unusual. The first country to threaten to deport someone for fighting for her rights. It does not matter whether it is unusual or not. Property scamming is not right wherever it is happening, trying to justify it because it is widespread is a cop out. You wouldn't happent to be an Estate Agenty would you Jox?

Jox

victim3 wrote: »

CYPRUS is unusual. The first country to threaten to deport someone for fighting for her rights. It does not matter whether it is unusual or not. Property scamming is not right wherever it is happening, trying to justify it because it is widespread is a cop out. You wouldn't happent to be an Estate Agenty would you Jox?

No Not sure where you got that idea??
I was defending Cyprus as a country to live and visit and saying that it is not the only corrupt country in the world. I am half Greek and was born there so to me it is part of my heritage and culture.

PompeyPete

More cautionary tales from last Sunday's Cyprus Mail...

http://www.cyprus-mail.com/property/homes-danger-collapse/20120318

...and some interesting comments.