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Should You Buy Property in North Cyprus or South Cyprus?

Here is a snippet of an interesting article from the Shelter Offshore website:

“… Property in North Cyprus does remain far cheaper than property in southern Cyprus however…but that’s partly because of the title deeds dilemma.  However, thanks to the European Courts, the issue has been all but solved.

Disputes are now handled in Northern Cyprus by the Immovable Property Commission.

Having said that, North Cyprus doesn’t help foreign owners of property.  We have friends whose homes have been foreclosed upon because the land on which their properties sit was remortgaged by the developer in the short gap of time it took for contracts to be exchanged and deeds to be issued.

No one is helping them.  They could lose everything.

Don’t think the south is immune from this type of scam however.  There are property issues that would make your hair curl! The fact is, if you want to buy a property on either side of the island you’re better off buying a completed home from someone who already owns their title deeds.  In this way you know the deeds will be transferred to you, and that the property is in full working order…”

Read the full article at Shelter Offshore

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