Northern Cyprus estate agents - buy property in the North
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Northern Cyprus has recently begun to attract the interest of both British holidaymakers and potential homeowners. At the moment the property market is just beginning to stir with intensifying media interest stimulating growth. The accession of the island to the European Union and the growing likelihood of direct flights to Ercan airport mean that prices are expected to surge in coming years. Northern Cyprus estate agents are obviously keen to cash in on this growing market, but bear in mind that it's definitely a case of caveat emptor; as by British standards the property industry regulations are lax and complex local laws add further confusion.
The growing number of real estate agents in northern Cyprus testifies to the burgeoning property market. In the last five years more than 2,000 foreigners have bought property in North Cyprus. Although this is only a fraction of numbers in the South; it still represents a significant shift for the region.
Purchasing Northern Cyprus Real Estate
When looking for a property in Northern Cyprus it's important to brush up on the island's History of Cyprus. Partition in 1974 led to significant ethnic population exchanges on either side of the newly formed Green Line. Many Greek-Cypriots abandoned land and houses in what's now the North and property deeds remain a political minefield. As a foreigner it's best to avoid buying property that's near the border as rightful ownership may be a source of dispute. A good estate agent will be able to tell you the safest way to proceed through this matter. If you are buying a house that's under construction; the same rules apply.
The best way to find a reliable estate agent is by personal recommendation. If you're new to the game (and the island) you could do a lot worse than befriending fellow countrymen who have already settled here and picking their brains. Failing that you'll find a wealth of Cypriot estate agents advertising on the Internet. Unfortunately there is no official regulatory body and more or less anyone can set themselves up as an estate agent. Naturally this means that quality varies and it's important to check your estate agent's credentials carefully (including the quality of their English!).
Book Online at:
Buying Cyprus Property? - CyprusBuyingGuide.com/cyprus
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