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| Northern Cyprus |
Posted: Sep 11 04 11:26
Total Posts: 7
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I know Northern Cyprus is not Eastern Europe but it seemed the most logical place to post these questions.
Has anybody bought over there and can offer advice?
What is the rental market like?
Capital growth seems promising - is this correct?
Can property be mortgaged In Northern Cyprus?
Has anybody got any contacts they can forward?
Jon
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Posted: Sep 13 04 21:05
Total Posts: 18
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Captial growth could be absolutely amazing - but buying is not as straightforward as in the rest of Europe.
For a start, you'll need to be able to satisfy yourself that the seller has the genuine title to the property/land.
Don't forget, when the Turks invaded Cyprus from the north in the Seventies they occupied a lot of properties owned by Greek cypriots who fled south.
The government in N Cyprus in not recognised by anyone except Turkey. But as Turkey desperately wants to join the EU, a solution will have to be found.
So, in short, my answer is: If you've got the bottle go for it. It's a gamble which could pay off handsomely. But take good local legal advice, or you could end up losing everything.
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Posted: Sep 22 04 09:52
Total Posts: 7
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Thank You Eric
I would probably look to purchase apartments through a reputable British Property company - First Homes seem an established company? I would imagine Apartments are safer in terms of clean title
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Posted: Oct 18 04 19:24
Total Posts: 93
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we are looking to purchase some off plan propertys in cyprus do you have contact detials for this First Homes
cheers
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Posted: Oct 25 04 18:19
Total Posts: 7
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Yes
www.firsthomesww.com
Jon
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