Buying in South potentially as risky as the North?
#1
Forum Regular
Thread Starter
Joined: Aug 2013
Posts: 95
Buying in South potentially as risky as the North?
I was always under the impression that buying in the Republic of Cyprus was fairly safe and that the problems lie solely in the North.
However, after doing some research, it seems that if a settlement is ever agreed, there could also be huge problems for property owners in the South too.
It seems quite likely that if a settlement is ever reached, then the Greeks and Turks will protect their own natives and it will be the foreign property owners on both sides who are made to pay.
It seems very likely that both the North and South will give British owned land and property to displaced people in order to protect the land and property owned by native Greeks and Turks.
It seems Cyprus is a very risky place to buy for Brits. Nationalistic sentiment runs deeply in both the North and the South and the British would be cast out of the country at the slightest notice if it were ever to benefit both sides of the dispute.
However, after doing some research, it seems that if a settlement is ever agreed, there could also be huge problems for property owners in the South too.
It seems quite likely that if a settlement is ever reached, then the Greeks and Turks will protect their own natives and it will be the foreign property owners on both sides who are made to pay.
It seems very likely that both the North and South will give British owned land and property to displaced people in order to protect the land and property owned by native Greeks and Turks.
It seems Cyprus is a very risky place to buy for Brits. Nationalistic sentiment runs deeply in both the North and the South and the British would be cast out of the country at the slightest notice if it were ever to benefit both sides of the dispute.
Last edited by EnglishPatriot; Dec 25th 2013 at 3:00 pm.
#2
Just Joined
Joined: Jan 2014
Posts: 4
Re: Buying in South potentially as risky as the North?
Do your homework....tread carefully...deeds are a core issue...settlement....hhmmmm I wait with interest...good luck
#3
BE Enthusiast
Joined: Jul 2009
Location: Limassol Cyprus
Posts: 348
Re: Buying in South potentially as risky as the North?
British Expats who have purchased property in the south and have their title deeds, are completely safe from any eventual political settlement. If you wish to purchase property in the south, be very careful who you deal with, make sure a search is done on the property you wish to purchase. There are plenty of resales on the market with title deeds. Probably a good idea to walk away from any property without a title deed.
#4
Just Joined
Joined: Jan 2014
Posts: 4
Re: Buying in South potentially as risky as the North?
Deeds...deeds....deeds...core....settlement...so sad...they cant even agree about a meeting to have a meeting....playing games ....at what expense...oh well...good luck whichever location you choose...n
#5
Re: Buying in South potentially as risky as the North?
EP,
Where did you read this information?
As posters have noted above.
Deeds and a good 'independent' lawyer carrying out a necessary search should be standard procedure before parting with the readies.
David
Where did you read this information?
As posters have noted above.
Deeds and a good 'independent' lawyer carrying out a necessary search should be standard procedure before parting with the readies.
David
#6
Re: Buying in South potentially as risky as the North?
As long as the property has the deeds and you have a lawyer that is trustworthy then you will not have any problems. Cyprus is at a time when there is great investment potential. The Turkish land in the south has not been taken over but in many cases just sits and waits for the original owners to return. In some cases families in the north have already returned to regain their land and have achieved it. I expect that when a resolution is finally achieved property prices will jump because of the number of EU citizens that will be moving here.
#7
Just Joined
Joined: Feb 2012
Location: Limassol
Posts: 6
Re: Buying in South potentially as risky as the North?
All land in Cyprus is registered in Nicosia and checks of ownership, North or South, can be made. Of course, interchange of land between Turkish Cypriots in the North may not be fully recorded. Caution though, I believe that some documents relating to property purchase in the North and then carried across the Green Line are liable to seizure.(Can anyone verify?)
Many Estate Agents are also qualified to transfer ownership of property, not just lawyers.
Many Estate Agents are also qualified to transfer ownership of property, not just lawyers.
#8
Re: Buying in South potentially as risky as the North?
The involvement of a lawyer is advisable as it safeguards the procedures. IMHO