Northern Cyprus has a complex recent history. The Turkish occupation in 1974 caused many Greek Cypriots to flee, in many cases abandoning their homes and posessions. The country is much more settled now, and talks between northern and southern leaders hope to establish strong ties between the two sides. However, there are ongoing problems with property ownership as Greek Cypriots displaced in the 1970s seek to reclaim their land. This was highlighted by the unfortunate case of the Orams.
Today's guest blogger, Cameron Deggin of Place Overseas, talks about what to consider if you're hoping to buy property in Northern Cyprus:
So, as a foreign buyer, what should you do?
- Take the risk and buy exchange property, which is cheaper than Pre 74 Turkish title property;
- Take no risks and purchase pre 74 Turkish Title property in North Cyprus; property and land that always were in the hands of Turkish Cypriots prior to 1974, basically Turkish titles issued prior to 1974;
- Move your focus some 40 miles to the north of Cyprus and look at Turkish coastline, which incidentally is more beautiful and lot more colourful. Property in Turkey is still a great bet for investment, permanent and holiday homes.