Gustave

I have a limited amount that I am thinking of buying an overseas property (I live in the UK and enjoy travelling)

I have been drawn to North Cyprus by the weather and notice the low cost of property.

Yes, I have seen all the bad stuff about the issues regarding property being repossessed. However, a number of the agents I am in contact with tell me that certain property is "safe" as it is either pre 1974 title or on agreed "exchange" with former Greek landowners.

Is this all baloney - would you not advise buying in NC under any circumstances or are there some properties that are genuinely ok ?

Thanks for any advice.

Mitzyboy

I'm sure others will know more .... but I wouldn't accept the word of a property agent as to the safety of buying a property, I really wouldn't. Take proper legal advice from an independent.

Spain, for instance, is strewn with people who listened to property agents about the legality of property, and paid the price afterwards.

zygiman

Property purchasing in North Cyprus ia definetley a no no! You will be buying property belonging to someone else. Just google The Orams, a particular case that sets the example of what can happen. They even employed the legal services of Cherie Blair, the wife of the ex UK Prime Minister, and even she couldn't save their house from being ordered to demolish their home.
Do not believe the word of any agent who will try to persuade you to purchase a house in North Cyprus.

Veronica-K

As Mitzyboy said it is not advised to buy in the North under any circumstances.
So called exchange land is not neccesarily safe as many of the Greek Cypriot owners have not agreed to any such such exchange.
Also pre 1974 title deeds must be checked at the land registry in Nicosia as many such deeds are not genuine.
My advice, don't risk your hard earned money on property you may never legally own.
Yes property there is cheap, but I could sell you my neighbours house very cheaply because I dont own it

Tom-flightholiday

Having a home in North Cyprus I would agree with Mitxyboy's caution about knowing what you are doing in Cyprus as anywhere in the world and not trusting the local "expert". Many of the so called experts in any country and any trade were doing something else a few weeks before, maybe a builder who has become a banker?

Look at the huge problems that people have had with "second homes" often bought to become an expat. home later in life it does not matter where you look Wales, Spain, France, Cyprus (Southern part) the US etc they have often got unforseen legal and planning problems.

With regard to Orams and also cheap land I'm sorry but you do buy within the laws that stand and the person who is giving the Orams trouble has used a loophole in newish EU legislation. I'm trying to avoid being "political" or biased.
Some property is available like ours, that is original Turkish Cypriot title land from pre 1974*; seek and you will find. *This is land that cannot be disputed.
Most important get a true expert and never expect to play by your "home" country rules anywhere.

Gustave - This is a minefield no matter where you buy. The TRNC is safe it's just truly knowing how and getting the right advice before you spend anything.

zygiman

Well put Tom - flightholiday, minefield is the correct word, and the recent case of retired people being thrown out of their homes in North Cyprus by a bank just goes to show what can happen too.

Gustave

Many thanks for your kind replies folks.

elkiton

Hi I live in North Cyprus, and can perhaps add something to the thread. The property market is definitely more for the speculator than the investor, and yes you need to lay out certain safeguards before parting with your money. Because of delays in getting permission to purchase and thus deeds, land can be (fraudulently) re-mortgaged and seized.

The Orams case is now a bird scarer...there will never be another one like this. The ECHR has legitimised the North's I-Property Commission and thousands of cases of GC land compensation have been filed and paid out, much to the South's govt's chagrin and past attempts to stop the citizens going there.

There is massive investment in the North, and an influx of Turkish mainlanders which is increasing the T population. We are awaiting the final move from Turkey which with the failing EU admissions may well be permanent partition, whatever form that takes. When this happens the economy, which has been effectively ruined by sanctions (against T/C's note, not Turkey), the North will take off again.

So, if you are prepared to take a risk (like me) then life can be very good, but for some, the early-birds, they got taken for a ride. What can I say but learn from history and make sure it does not repeat.

I would prefer not to have a partisan discussion on who did what,to whom. I was out here in the '60's and have a pretty good idea of what went on. But I am happy to talk about the place, shortcomings, risks and benefits of living here with anyone who is interested.

TonyE