Покупка

Is it safe to buy real estate in Northern Cyprus?

17.03.2023

Buying a real estate in Northern Cyprus is an absolutely safe investment, regardless of the purpose you buy it for. All deals and operations in Northern Cyprus undergo in a legal manner as required by international norms.

However, each case has its own nuances that are necessary to comply with to preserve personal calm and legal protection.

First of all, the list of these nuances includes the acquisition of real estate objects with Turkish or ‘exchange’ titles.

A land title is a document confirming ownership, it contains a plot number indication (in the Land Register), its size, the buildings erected on it, the name of the owner and other important information.

As mentioned previously, it is safe to purchase real estate with a land title of two types:

PRE 1974 TURKISH – means the land belonged to a Turkish Cypriot or foreigner until the island was divided into North and South in 1974.
ESEDGER – the land belonged to a Greek Cypriot or Greek before the division of the island. After 1974, compensation was paid for the land or a similar plot of land was provided in the Greek part of Cyprus.

Land with Turkish or ESEDGER titles has no ‘disputed’ status and all documents are 100% legal and transparent.

The second condition is the purchase of real estate in official ownership, i.e. obtain ‘freehold’ status or a status of unconditional ownership. This is explained by the fact that being on the rights of the owner you have a full and incontestable right to the real estate you have bought, and the state acts as the guarantor who regulates the transfer of the real estate to your family members when the accident or death occurs.

The third essential condition to buy real estate in Northern Cyprus and stay safe is to be sure that a pledge is subject to a sale and purchase agreement where its amount and other information discussed between the seller and the buyer. It is important as the existing contract where both the information and agreements displayed will always have full force and effect when defending the interests of the owner.

Our company has been working in the real estate industry in Northern Cyprus for more than 10 years. During this time we have been deeply learning and analyzing all kinds of legal aspects of buying, selling and managing real estate. We provide full legal support for our clients, and also work only with developers which reliability have been proven by a track record from many consecutive years of experience in cooperation.

Stay tuned