Overseas Property News News Overseas Property Forum Forums Overseas Property Blog Blogs Overseas Property News Sales Terms & Conditions Acceptable Use Policy
Take Down Policy Privacy Policy Contact Us
Property in Australia Australia Property in Bulgaria Bulgaria Property in Brazil Brazil Caribbean Property Caribbean Property in Cyprus Cyprus Property in Dubai Dubai Property in Egypt Egypt Property in France France
Property in Germany Germany Property in Morocco Morocco Property in Portugal Portugal Property in Spain Spain Property in Turkey Turkey UK Property UK US Property US Property in the UAE UAE

Go Back   Overseas Property Investment Forum > European property > Cyprus property

Cyprus property Considering investing in a property in Cyprus? Discuss issues on the Cyprus property market, reunification issues, legal and financial process, investment returns and more

Guest View - Limited Access Only
Register Free Today

Buying in North Cyprus - Page 2

Reply
 
Thread Tools
  #11  
Old 06-08-2007, 10:42 AM
Active Member
 
Join Date: Jul 2007
Posts: 13
Default

The northern area of the Republic of Cyprus, under military occupation by Turkey since 1974, has been experiencing an unprecedented construction “property sale” boom. The vast majority of the properties affected by this boom are owned by Greek Cypriots who were forcibly expelled from their homes due to the Turkish invasion. These displaced people are to this day prevented by the Turkish Armed Forces from returning and repossessing their homes and properties. A recent development is that the occupied area has become a haven for corrupt and unscrupulous businessmen out to make a quick profit from the illegal “sale” of Greek Cypriot property.

According to the 1964 Land and Registry record, approximately 82% of the privately owned land in the territory now under Turkish occupation was owned by persons belonging to the Greek Cypriot community. While persons belonging to the Turkish Cypriot community owned approximately 16.7%. That position was still obtained in 1974.

In August 2004 Ahmet Uzun, the so-called “finance minister” of Turkey’s puppet regime in the occupied area, stated that the UN Plan provided an incentive to build on Greek Cypriot property, because persons investing in such property could have had priority over the legitimate Greek Cypriot refugee title-holder in its ownership. Such provisions were indeed an incentive, and facilitated the rush to build on usurped properties and to “sell” them mainly to British and other European citizens seeking a home in the sunny Mediterranean.

On 23 August 2004, Turkey’s Deputy prime Minister and Minister responsible for Cypriot affairs, Abdullatif Sener, was reported by Milliyet as having stated that the amount of properties that foreigners had “bought” in the occupied areas of Cyprus had increased tenfold over the last two years!

Nonetheless, anyone who has “bought” or is seeking to “buy” Greek Cypriot owned property in the occupied part of the Republic does so illegally, as first discovered by a British couple in October 2004. Anyone contributing to the ongoing plunder of such properties becomes a potential target for criminal and civil law suits in the courts of the Republic of Cyprus. The resulting arrest warrants and decisions could then by judicially enforced abroad.

The rights to restitution of the properties and home of Greek Cypriot displaced persons have been recognised by the European Court of Human Rights. The Court found Turkey guilty of depriving Greek Cypriot refugees of the use of their properties. The Government of Turkey is obliged to compensate the refugees for the time period of the deprivation of use and to allow them to return home. Ankara has not done this, thus violating the fundamental human rights principles with which an EU Candidate Country must comply in order to start accession negotiations.


…quick points
• Four fifths of the privately owned land in the territory now under military occupation by Turkey is owned by displaced Greek Cypriots. The government of the Republic of Cyprus itself owns one quarter of the total area under occupation.

• The European Court of Human Rights (ECHR) has upheld the rights of the displaced Greek Cypriot owners to their properties, and on a number of individual applications, the Court ordered Turkey to restore those rights and to pay compensation for the period of deprivation (Loizidou v Turkey, Xenides – Arestis v Turkey). Several thousand applications by Greek Cypriot displaced owners are currently pending before the European Court of Human Rights.

• Pursuant to Security Council Resolutions 541 (1983) and 550 (1984), the illegal secessionist entity in the occupied areas cannot issue valid title deeds. “Certificates” so issued, are not recognized by the Republic of Cyprus nor by any other state, other than Turkey.

• Several governments, including U.K., U.S.A., Russia, France and Germany have issued warnings on the purchase of property in the occupied areas of Cyprus.

• Therefore, buying property in the occupied area of Cyprus could infringe upon the property rights of others involved. A violation of criminal and civil law could entangle the buyer in legal proceedings, financial damage, personal liability and the risk of losing money invested, as well as assets at home. Why then undertake such unnecessary risks?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #12  
Old 23-08-2007, 09:23 AM
Active Member
 
Join Date: Jun 2007
Posts: 27
Smile Myths about TRNC property

Quote:
Originally Posted by drew View Post
I holiday there every year and I can assure you people have heard and are buying/ building in DROVES. It's a great country, the lifestyle is more relaxed than mainland Turkey (yes, it is possible!) and people are buying for exactly the same reasons as Turkey (entry for Turkey to the EU will likely quadruple house prices).

Just wondering... no-one else looking at North Cyprus?!
Thanks
Drew
Firstly it should be understood that the North and South of Cyprus will never again be administered by the GC's. These two states are here to stay and the problem is that the GC's cant come to terms with this fact. There is a lot of misinformation on these threads which I will clear up. Firstly the english couple ( named Orams) won the case in the English courts brought against them by the former owner of the land upon which their house is built. GC's can no longer go to the European court with these cases for one simple reason. The EU inconjunction with Turkey and the TC's have set up a property compensation board whose offices are in the old city of Nicosia. To date more than 200 GC's have accepted full present day valuation compensation for their land in the North. The Turkish Government is underwriting these compensation payments for the simple reason that they have realized that to not do so will prevent their progress towards full EU membership. Further the Turkish Government has already informed all TRNC property owners ( build on GC land) that the individual owners holding Titles issued by the TRNC, will not be asked for payment of any kind. There is a good basis for this decision because the Turkish Government issued these TRNC titles in the first place and so it is they that the GC's must settle this property propblem with. GC's are given three choices by the property compensation board foir their proprerty. 1) Full present day valuation compensation. 2) Alternative land of equal quality and value still owned by the TRNc government. 3) Their house/land returned if there is no TRNc title on it and it is unoccupied. The fact is the steady stream of GC's accepting compensation from the Property compensation board will become a flood. Its hardly surprising since the GC Government, and Papadopoulis in particular, have consistent lied to the GC people about the eventual GC return to their lands in the North. Dream on fellows!!!

THe TRNC market will explode because properties there are cheap the onlyt question is when.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #13  
Old 20-10-2007, 10:09 PM
Active Member
 
Join Date: Oct 2007
Posts: 8
Default

Northern Cyprus is beautiful and the Turkish Cypriots wonderful people. They just wish the mainland Turks would leave the island, give them back their jobs and land and stop interfering! There's no problem with truly Turkish Cypriot owned land/property; but the problem is the TRNC has arbitrarily issued 'new' title deeds for property that is actually owned (with all the genuine relevant and internationally-recognised paperwork) by Greek Cypriots. So some of the 'title deeds' are in fact false. You need a very good lawyer/investigator to be sure you haven't been 'conned' - and therefore in danger of actually losing your land/property down the line. If everything is 'genuine' then you'rre lucky. But there are plenty of 'buyers' who have discovered too late that they've been taken to the cleaners. You need to do your homework very thoroughly before you take this kind of risk.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links
  #14  
Old 02-12-2007, 02:23 PM
Banned
 
Join Date: Oct 2007
Posts: 1,115
Default

Anybody know the implications of buying a property in northern Cyprus,where the Land has been built on without permission from the original owners?.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #15  
Old 17-12-2007, 04:26 PM
Active Member
 
Join Date: Jun 2007
Posts: 27
Default

Yes I do know the current situation regarding buying units built on GC owned land in the TRNC. Without going into the complicated and very boring political situation on the Island some 34 years has passed since the Island was divided. Since 1974 there have been numerous political initatives to resolve the situation. All have failed because the GC's want the pre 1974 status and that is just not going to happen. When the GC's voted no to the Annan plan in 2004 ( having previously agreed to it!!) that was, I believe, the last straw for the UN, US and the EU. It is now no longer possible for GC's to take foreign ( usually British) buyers of units built on former GC owned land, to the European courts because the EU, and the UN, have agreed to a Turkish Goverment initative, to set up a "Property Compensation Commission" to pay Bona fide GC former owners of land in the TRNC " current value compensation" for their land. More than 200 GC's have already taken up this offer and received good money for land which, despite all the rhetoric, was never again going to be in their possession. I believe that as time goes by most, if not all, GC former owners of land in the TRNC will take compensation from the Turkish Government.

It should be pointed out that the Turkish Government ( more than 2 years ago) reassured all the foreign owners of units built on former GC land that they will never have to pay a penny in compensation to former GC owners. In affect the Turkish taxpayer is underwriting the compensation paid to GC's..

So in answer to your question you can buy a villa or flat in the TRNC without worrying about the future repercussions. But there is moral issue here also so you must make up your own mind about this. Hope this helps
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #16  
Old 17-12-2007, 06:58 PM
Banned
 
Join Date: Oct 2007
Posts: 1,115
Default

Thanks for the info kismet it is very helpful.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #17  
Old 24-12-2007, 01:29 AM
Active Member
 
Join Date: Dec 2007
Posts: 5
Red face Ulpian

I keep seeing posts about the unspoilt nature of the north. Not true; the north has been wrecked in the past three years by a rash of chavfriendly complexes and 'developments' targeted at the be-tattooed bare chested spivs that now infest the place. If the TRNC government really wishes for a prosperous future it should be targeting the international rich. Too-small plots, augmented by low-rent building standards, are resulting in a sort of Romford outremer. The Spanish islands, and the cleverer parts of north Africa are targeting the better educated and better off population of Europe; to their advantage. A chavfest of beer and fish and chips should not be the future of one of the loveliest remaining parts of the Med. Stop the tasteless developers, and their vulgar clients, and go upmarket; and then see what will happen to the prosperity of the island. Oil prices are rising inexorably; so any Mediterranean government should be aware that within five years only the rich will be able to afford to travel; think on...
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links
  #18  
Old 24-12-2007, 02:56 AM
Banned
 
Join Date: Oct 2007
Posts: 1,115
Default

Well ulpian,
I guess you are not a fan of north Cyprus.
I have never travelled to North cyprus,I have however been to the south many times and do like it a lot.
I was guessing the prices on the northern side would be a lot more affordable then the south,I must admit I have heard a few stories that's what makes me a bit apprehensive about investing in the North.
I have currently already invested in Egypt and am looking for another investment around Cyprus.What would you suggest?.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #19  
Old 24-12-2007, 06:22 AM
Active Member
 
Join Date: Dec 2007
Posts: 5
Default

Buy in France or Iberia, they are accessible by train. Leave the poor north of Cyprus alone!
As I said, in a very few years no-one will be able to afford to travel there so any 'investment' property will be a deserted wreck.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #20  
Old 24-12-2007, 11:25 AM
Banned
 
Join Date: Oct 2007
Posts: 1,115
Default

Whilst I wouldn't mind investing in Iberia I don't think I would be too willing to invest in France at the moment.I am looking for all year round warmth,reasonable living costs and somewhere where I would feel comfortable.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote

Reply

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Thinking about buying property in North Cyprus - but worried! colby Cyprus property 16 11-06-2008 06:42 PM
Buying in Cyprus ? marc Cyprus property 1 04-09-2006 01:42 PM
Buying property in North Cyprus mathew Cyprus property 0 17-08-2006 06:54 PM

LEGAL NOTICE
By using this Website, you agree to abide by our Terms and Conditions (the "Terms"). This notice does not replace our Terms, which you must read in full as they contain important information. You must not post any defamatory, unlawful or undesirable content, or any content copied from a third party, on the Website. You must not copy material from the Website except in accordance with the Terms. This Website gives users an opportunity to share information only and is not intended to contain any advice which you should rely upon. It does not replace the need to take professional or other advice. We have no liability to you or any other person in respect of any content on this Website.
FORUM PARTNERS
Property Community is owned and operated by the MoveForward.com Limited group. You can find out more about us here. We also run the Expat Forum, an ideal community for people moving overseas and looking for jobs abroad. Keep a look out for some up coming ventures like: The Dubai Forum for everything about Dubai. The Income Forum for everything financial. Future projects: Spanish Property | Weddings | UK Business.


Latest Active Threads

All times are GMT +1. The time now is 09:14 PM.

SearchSearch the site

Premium Account Benefits
Premium Member Benefits

Sub Forums:

Brazil Property ForumBrazil Property
Bulgaria Property ForumBulgaria Property
Dubai Property ForumCyprus Property
Dubai Property Forum
Dubai Property
Egypt Property ForumEgypt Property
French Property ForumFrench Property
German Property ForumGerman Property
Greek Property ForumGreek Property
Morocco Property ForumMorocco Property
Portugal Property ForumPortugal Property
Spanish Property ForumSpanish Property
Turkey Property ForumTurkey Property
UK Property ForumUK Property

Premium SubscriptionList Your Properties With a Premium Membership

Property News
Property Forum
Property Blog
Property For Sale


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.2.0