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And we will give you free advice on purchasing real estate in Northerh Cyprus
On the Internet you can find many scary stories about Northern Cyprus and especially about buying a home in this country.
Many people, having read such articles, think that if you buy real estate in Northern Cyprus, you will lose it and moreover, you will be sued.
Let’s understand the myths about Northern Cyprus, why you cannot:
- buy real estate
- come on vacation
- live here
But first, let’s delve a little into the history of where so much misinformation about Northern Cyprus came from.
The island of Cyprus has been colonized by different empires throughout its history. Cyprus gained independence in 1960, but the two communities, Greek Cypriots and Turkish Cypriots, were unable to achieve peaceful coexistence, leading to the Turkish invasion in 1974 and the division of the island into two parts.
Thousands of residents were forced to move from their homes: Greek Cypriots who lived in the north of the island moved to the south, the same happened with Turkish Cypriots who previously lived in the southern part.
This is how the concept of title arose – a document confirming ownership rights to a land plot. And a powerful PR campaign has been launched on the Internet to denigrate Northern Cyprus, the main instigators of which are Greek Cypriots.
Let’s move directly to the myths.
Stories that you cannot live in Northern Cyprus or come here on vacation can only bring a smile. Tens of thousands of tourists visit the country every year, and the number of people moving for permanent residence is growing exponentially. The country is very loyal to immigrants, and this will be confirmed by numerous Europeans and people from the CIS countries.
Now let’s move directly to the topic of buying real estate in Northern Cyprus.
Myth #1: You can buy cheap real estate in Northern Cyprus, but the purchase will be considered illegal and the housing will be taken away by Greek Cypriots at any time.
Truth: All real estate transactions are protected by the European Court of Human Rights. Buying a home in Northern Cyprus is an absolutely legal process, and not all real estate before 1974 belonged to Greek Cypriots. Those plots that were in their ownership were exchanged for similar ones on the south side or monetary compensation was paid. Do not forget that in Southern Cyprus there are plots of land that previously belonged to Turkish Cypriots, so the law works for both sides.
Myth #2: The process of purchasing real estate is lengthy and expensive. It is necessary to obtain permission from the army authorities and register with the courts.
Truth: Buying property in Northern Cyprus is not difficult. The process is absolutely transparent and does not require interaction with the army or court. You need to check the documents before purchasing: title, proximity to a military installation and the presence of encumbrances (for example, a mortgage or loan), otherwise there is no reason to worry.
Myth #3: In Northern Cyprus, all real estate was built illegally and without documents, so the houses will subsequently be demolished or it will be impossible to sell them.
Truth: Without the permission of the state commission, not a single building will be built in Northern Cyprus. Therefore, the very fact of illegal construction is not possible.
Myth #4: Low demand for real estate in Northern Cyprus
Truth: Some projects are sold out within a week from the start of sales. Of course, investors should choose the right apartments or villas and pay attention to key factors. Prime Pro Investment experts will help you find real estate that will provide 40% income from resale.
Myth #5: Economic instability in Northern Cyprus. Bad choice for investors
Truth: The economy of Northern Cyprus is in an active growth phase. Investors are opening new business projects and actively buying real estate. Do not forget that housing here is sold in British pounds, euros or dollars, without reference to the volatile Turkish lira.
To summarize, we would like to say that any purchase of real estate abroad is a kind of risk, but it can be avoided by turning to specialists. Contact the Prime Pro Investment team for a free consultation, come to Northern Cyprus on an introductory tour to see everything with your own eyes.
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