North Cyprus Property Victims | are you considering moving to North Cyprus to retire?

Are you considering moving to North Cyprus to retire?

It is very beautiful and the majority of the people there are good, honest hard working people.People who appreciate your presence and in the main really want you there. However, be aware, there is a small minority, the underbelly if you will,  who see you as as a ‘cash cow’.  It is sad but true that many of these from the underbelly are powerful and can metaphorically take your life and make it a living hell.

How can you protect yourself from being a victim?  This is not easy, you only have to ask the many victims who did all that was asked of them, followed all procedures whether it was the legal procedure for buying or the medical procedure for applying for residency, and still found themselves victims.

The first obvious advice is, do not buy, rent. This is a two fold protection. If your landlord fails to live up to his obligation to you as a tenant, you can move on. You will also have bought some precious time to get to know the place and then decide if this is indeed the place for you.

Buying is fraught with pitfalls. The Government have tightened up a little on the process but, even so, do you want to buy in a place where existing victims’ problems are not being addressed; can you be sure that the new laws have no loopholes? As with the existing victims, you may be many years into the ‘trap’ before you become aware of it.

The Permission to Purchase process is still taking far too long, even though most of the mortgage fraud have been caused by this overlong and protracted process.  Has it been improved? Well it would seem it may well have if you happen to be Turkish. Please do not misunderstand me, I am happy for Turkish purchasers. It is quite simple, if the parting of money and the transfer of title into the new owner’s name was simultaneous, a lot of confidence would be restored. However, whilst  victims exist, confidence will continue to be at an all time low.

This problem is not just a North Cyprus problem, there are even more victims of the property scams in the South of the island and the forums to be found there reflect this. The answer clearly lies in the hands of the respective Governments.

Back to the opening question, ‘are you considering moving to North Cyprus to retire?’   I personally am not considering retiring to either the North or the South of the island to retire, I worked too hard for my money and consider my peace of mind a prime requisite of any place I would retire to.

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