North Cyprus Property | Bahceli Re-Visited

North Cyprus Property | Bahceli Re-VisitedWITHOUT PREJUDICE

North Cyprus Property | Bahceli Re-Visited

Anyone who believes the Russians are not already falling victim to the property market here in north Cyprus, might like to think again.

The ugly spectre of watching their villas go to auction was already a real possibility, the purchasers being the pawn in a conflict between business partners, that they are not able to agree on a business matter should not affect the purchasers but of course that old chestnut caused by the protracted Permission to Purchase process gives the greedy the chance to seize that which any fair minded person would know was not longer in the ‘pot’ as it has been sold…your home.

In September 2010 it was the turn of purchasers on a site in Bahceli to feel the real fear of knowing their homes could and indeed would be sold to settle a dispute they had no part in. The law in the TRNC seems to offer no protection, witness the fact that K5 had to ask 6 times before they were given an Interim Injunction to stop the sale of their homes by the bank whilst the courts decide the outcome of the challenge by the owners. In any other civilised country this would not even be a question, the owners would stay put and not suffer intimidation. The bank have jumped the gun and allegedly illegally repossessed two of the villas on the K5 site. Where else in the civilised world would this be allowed and the bank allegedly be given ‘a hand’ by the police?

Another interesting parallel is here too, Fatisa Construction Limited was actively involved in building and selling some of the properties on the Kulaksiz site, seems Kulaksiz Construction Ltd and Fatisa Construction Ltd may well be tarred with the same brush.

It would be interesting to find out what the position is on Bahceli today. That is what the comments section is for. Any news?

Power to the people

Citizen Smith


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