6 Reasons to Avoid Buying Property in Northern Cyprus

There are several reasons why buying property in northern Cyprus should be avoided at all costs. In this article, we'll explore the hazardous conditions, legal issues and other factors that make purchasing property in the north of the island a very bad idea. we'll also take a look at the reasons why Cyprus real estate in the area of the island controlled by the legitimate Cyprus Government is booming.

There is No Such Country as "North Cyprus"

If you hear or read the term "North Cyprus", be aware that this term is used to refer to the northern part of the island that is currently illegally occupied by Turkey. This region of Cyprus is currently controlled by a Turkish Cypriot "Leader". This has been the case since Turkey's illegal invasion of the island in 1974.

The world's leading nations and institutions don't recognise Turkey's occupation of Cyprus. This means any money you invest in property in the northern region isn't safe. Indeed, the British Government made it a criminal offence to buy properties owned by displace Greek Cypriots. Read this official UK Government guidance on the laws surrounding the purchase of property in Cyprus.

But it's not all bad news. While buying property in the area of Cyprus illegally controlled by Turkey is very risk, buying homes in the areas controlled by the legitimate Cyprus Government represents a risk-free investment. These areas include the capital, Nicosia. You'll also find some stunning properties for sale in Larnaca, all of which are protected by the stringent laws of the legitimate Cyprus government.

Problems with Title Deeds

by Maxim Erokhin (https://unsplash.com/@lavroviy)

One of the most significant legal issues facing property buyers in northern areas of Cyprus is the title deed scandal. In the 1970s, when the region was illegally invaded by Turkey, many Greek Cypriots were forced to flee their homes, leaving their properties behind. These properties were then sold to Turkish Cypriots, who were given "exchange" title deeds.

However, these exchange title deeds are not recognized by the international community, and there have been cases of properties being sold multiple times, resulting in multiple owners. This has led to legal disputes and uncertainty over property ownership in Turkish-controlled areas of Cyprus.

High Risk of Property Scams

While Turkey illegally claims control of the northern part of Cyprus, no other major country or global organization recognizes this claim. In effect, it's an illegitimate administration that doesn't always abide by international laws and norms. And this is great news for criminals and fraudsters who often use the region's chaotic property rules to scam unsuspecting buyers — particularly those from the West who don't know about Turkey's illegal occupation.

The Economy in Northern Parts of Cyprus Relies on Illegal Activity

The economy in areas of Cyprus illegally occupied by Turkey is rife with illegal activities and immoral money-making schemes. Illegal gambling and money laundering are big business in these illegally held areas, which depresses property values and leaves local people feeling unsafe.

High Maintenance Costs

Many buyers are attracted to areas of Cyprus illegally occupied by Turkey for their lower living costs. Firstly, costs are often lower because of the illegal activity taking place in the region. Conversely, when it comes to property ownership, the maintenance costs can be quite high. This is especially true for holiday homes, as they may require regular upkeep and repairs when left unoccupied for long periods of time. In addition, property taxes and utility costs can also add up — making it a costly and highly risky investment.

Limited Rental Potential

If you are considering buying property in the northern parts of Cyprus, it's important to note that the rental potential may be limited. The political situation and lack of tourism infrastructure make it difficult to find renters in the region. This can result in a lower return on investment and may not be a profitable venture in the long term.

Why Buying Property in Areas Controlled by the Cyprus Government Is Risk-Free

There's only a risk to your investment if you buy a property in the parts of Cyprus illegally occupied by Turkey. But when you limit your property search to towns, cities and regions controlled by the legitimate Cyprus Government, your investment is just as safe as it would be in the UK, France, Germany or any other law-abiding country in the world.

Cyprus is an EU Member State

One of the main reasons to consider buying property in Cyprus is the fact that it is an EU member state. This brings numerous benefits and protections for property owners, including access to the EU market, free movement of goods and services, and legal frameworks that ensure property rights and ownership are well-established.

Being part of the EU also means that Cyprus has a stable political and economic environment. This makes it a more secure and reliable investment option. It's also one of the reasons why the Paphos property market is booming right now.

Cyprus Has a Sophisticated Real Estate Market

The area of the island controlled by the legitimate Cyprus Government has a sophisticated real estate market that offers a wide range of properties to suit different budgets and preferences. Whether you're looking for a luxury villa, a beachfront apartment, or a traditional village house, you'll find plenty of options. Properties in Famagusta are very popular right now — just make sure you protect your investment by avoiding the area of the city illegally occupied by Turkey.

The legitimate Cyprus property market is well-regulated. The country's clear property laws and transparent processes guarantee a smooth and secure buying experience. And the presence of reputable real estate agents and developers adds further credibility to the market, giving buyers peace of mind.

Cyprus Has a Modern Legal System

One of the main benefits of buying property in Cyprus is the presence of a modern legal system. The country's legal framework is based on English common law, which provides a solid foundation for property rights and ownership. This ensures that property transactions are conducted in a transparent and legally binding manner, giving buyers peace of mind.

Cyprus also has a well-established system for registering property. This makes it easy to verify ownership and resolve any disputes that may arise. So, whether you're buying a home in Limassol or Paphos, you can proceed with complete confidence.

Unlike in areas of the island illegally occupied by the Turkish, where many properties lack proper title deeds, Cyprus has a well-established system for registering property and ensuring clear ownership. This provides buyers with the confidence and security of knowing that their property rights are protected. Having title deeds also makes it easier to sell the property in the future.

Cyprus Has a Modern Land Registry

Cyprus has an effective, reliable, and fast system for registering and documenting land. This provides buyers with a reliable and transparent record of ownership, making it easier to verify property rights and resolve any disputes that may arise. The modern land registry system in Cyprus adds an extra layer of security and confidence for property buyers.

It's a Great Time to Buy Property in Cyprus

To all intents and purposes, buying property in Cyprus provides the same legal and industry safeguards you'd expect in the likes of the UK, France, and Germany. And with so many stunning options available, it's a great time to buy a home in this jewel of the Mediterranean. Start your property search in Cyprus today!