BUY PROPERTY IN NORTH CYPRUS

Anyone who considers the obvious benefits of the property market in North Cyprus will always come to the point to ask "Is it safe to buy property in Northern Cyprus?" And the answer to this question is a simple one - "Yes!"

There has been a lot of misleading information in the media that would have you believe all land and property in Northern Cyprus is potentially subject to a legal claim and that is quite simply NOT the case.

The point is that you should make sure you understand the nature of the title deed on the property you are interested in and ten appoint an independent solicitor to conduct the process.

Following the years of troubles that divided Cyprus in 1974 and at finally led to a peaceful situation on the island, the houses abandoned by the Turkish Cypriots on the South of the island ere 'nationalized' by the Greek Cypriot government, and houses abandoned by the Greek Cypriots on the North of the island were "nationalized" by the Turkish Cypriot government.

Is common for the title deeds associated with this type of nationalized land and property in TRNC to be referred to as "exchange".

Many of the new build and off plan properties for sale In North Cyprus carry this title deed as do the majority of properties available for lease from the TRNC government. All other properties and parcels of land come with variations one of the following four types of title deed: each with a different risk level therefore different price.

You should always seek legal counsel before proceeding with a formal offer to purchase or the signing of any contract for a property or land in North Cyprus. The process to buy your property in Northern Cyprus is dependent on which title deed your property holds.

FREEHOLD - FOREIGN TITLE
This is North Cyprus property owned by European residents, (e.g. British, German). The title deed is internationally recognized.

FREEHOLD - TURKISH TITLE
This is property Turkish Cypriot owned prior to 1974. These deeds are100% safe, but before the property can be registered in your name, an application must be made to the Counsel of Ministers for approval. Foreigners are limited to one donum per person in North Cyprus (husband and wife count as one person unless they have different surnames). The procedure to obtain approval will take about six months or so.

FREEHOLD - TRNC TITLE/GREEK CYPRIOT TITLE
This is property Greek Cypriot owned prior to 1974. When the Turkish Cypriot refugees came to the north after July 1974, they left all their possessions behind in the south. Accordingly, the Government then assessed on a points basis, the value of the refugee's forsaken assets in the south. With these points, the Turkish Cypriot refugee could take is languished Greek Cypriot house or land in compensation for his lost properties.

He would then sign over his properties in the south to the TRNC government, who would then hold them pending a negotiated settlement between the North Cyprus and South Cyprus Governments. The refugee would then be issued with a property title deed for his newly recompensed property. Until he received this title, he would not be in a position to sell the property.

LEASEHOLD TITLE
Leasehold property in North Cyprus is often owned by the Government 'EFKAF' ministry of antiquities and available on a 49ear lease basis. You may at any time freely lease or rent property, including your own, for any period of choice.

There are no particular restrictions for foreign nationals on this. Lease agreements over 1 year must be in writing and there are very peculiar laws and precedents about leases, so please consult with a lawyer before rent or let property in North Cyprus.