Kyrenia Holiday Rentals
OWNERSHIP OF PROPERTY IN NORTHERN CYPRUS
This is written with both the interests of the legal owners of Land in Northern Cyprus and potential purchasers of in mind, in the light of the many requests that we have received on this subject. Many of you will have heard of the discussions that have taken place in the past 12 months with regards to the resolution of the Cyprus problem. Whilst there has been some progress made in terms of relaxing of some restrictions in terms of visits, the situation still has a considerable way to go before a permanent solution to the problem is achieved. The increased publicity has generated a lot of interest from people looking to get in on the ground floor and invest in property in the North and take advantage of what they consider to be bargain prices. We get requests from people with regards to availability of property in the light of the above. You should be aware that the Northern Cyprus area which is illegally occupied by the Turkish regime headed by Raulf Denktash is not recognised internationally. In fact there are still sanctions in place at the United Nations on this pseudo state. The only country that recognises its existence is Turkey itself! Anyone contemplating the purchase of property on the Northern side of the Island run the risk of losing their money when a solution to the Cyprus problem is eventually found. Which, it will be. You have to bear in mind that the regime will be in some cases selling land that belong to the Greek Cypriot community that were forced to flee during the 1974 invasion. The bottom line is that you pay your money and take a chances with regards to this very risky process. It is therefore better to wait until a solution is found if you believe that you need to purchase on the Northern side of the island. We are aware of certain companies in the UK who are offering land for sale in the occupied areas. This is illegal. We cannot and indeed would not be prepared to assist anyone seeking land or property on the Northern side whilst the existing situation prevails. You would also be well advised to steer clear as well.
Another article on the same subject-please read:
09/07/2004 @ 14:45 | posted by Marios Flourentzou
Britons are driving an unprecedented property boom in northern Cyprus; but few realise they risk losing everything as land disputes escalate.