Buyer's GuideNorthern Cyprus’s Premier Estate Agents Today it seems that the average real estate customer has as many estate
agents to choose from as they have properties, with more and more estate
agents springing up every day. Each Real Estate Agent in North Cyprus
or elsewhere is offering “the best service” or “care
and attention second to none”. As the list of catchphrases and logos
continues, it is now apparent that the Cyprus Island is a goldmine, as
everyone jumps on the bandwagon to cater for this boom. Realisation is
dawning on many that the hardest choice customers now face, even before
choosing a new property in North Cyprus is finding a reputable and experienced
Northern Cyprus estate agent among the many sudden born and inexperienced
that have appeared. If an agent’s capabilities and service could
be judged by the size or grandeur of their bright and colourful road signs,
the decision would be easy. WALK THROUGH OF THE PURCHASING PROCEDURE, FREEHOLD: While buying a property of any kind in the Northern Cyprus, there are specific regulations to be followed, for the title deed (or “kocan”, in Turkish) to be transferred into the buyer’s name. The formalities enforced on all foreign buyers include checks on the person or persons applying to buy property. These checks are carried out by the Ministry of Interior. However, compared to a few years ago, the increase in the foreign population moving to or buying property in the T.R.N.C. (Turkish Republic of Northern Cyprus) has forced this procedure to be become slow which inevitably means delays. The transfer of title deeds now is taking approximately one and half years to two and half years. However this does not prevent the buyer from moving into or taking possession of property in North Cyprus. WALK THROUGH OF THE PURCHASING PROCEDURE, LEASEHOLD: There is a small number of leasehold properties in Northern Cyprus dotted around the island. The process for buying a leasehold property is very similar to that of buying a freehold, the only noticeable difference being that the client’s application to buy a property is submitted by the solicitor to the authorities at the North Cyprus Ministry of Tourism and not the Ministry of Interior.
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