Property for Sale in North Cyprus News

Unless you live in the TRNC or subscribe to the local newspapers you’re unlikely to hear about some of the most exciting developments and positive news about the property sector in North Cyprus because the media are loath to report anything particularly positive from the Northern third of the beautiful Mediterranean island. 

This is a very real shame because certain factors are positively influencing the appeal and investment potential of land and property for sale in North Cyprus and yet these factors go largely unreported.  Now, for those interested in one of the most appealing emerging property markets around, here’s property for sale in North Cyprus news, views and up to date information.

The government of the Turkish Republic of Northern Cyprus has taken a massive step forward in terms of its treatment, registration and assessment of all land and property in Northern Cyprus by totally removing the emphasis on the type of title deed a piece of land or property holds.  This means that with immediate effect all land and property registered in North Cyprus comes with the government’s guarantee.

Until very recently there was a sharp differentiation across the board between land that held internationally recognized title deeds such as pre 1974 Turkish title and land that was exchange land for example – exchanged either for land lost by the Turkish Cypriots in south Cyprus or for lives lost in the 1974 war.  But now according to one local developer on the island who is a prominent member of the TRNC Registered Builders Association and who conducts regular land transactions, all land holds the same status in the eyes of the government.

Estate agents in North Cyprus are happy to continue marketing property as holding pre 1974 title deeds for example because such real estate will always sell for a premium to those who are unaware of the significant developments taking place in Cyprus; but for those who want to buy land and construct a bespoke property for example, the government’s commitment to guarantee all land and property means that they can purchase and construct with confidence.

Our source in North Cyprus advises that parcels of land in TRNC are now allocated a purpose – for example tourism, commercial or residential – and this more than the type of title deed that the property holds is affecting the value of land.  So much so that land banking is fast becoming a popular pastime in Northern Cyprus! 

It is becoming increasingly difficult to source one, two, three and four donum plots of land on which one or two properties can be built because so many local and international investors are securing their position on the island by purchasing prime pieces of land which they know they will be able to sell easily and for a premium shortly as suitable plots for individual buyers become rarer.

Small parcels of land with immediate or easy access to water and electricity are now changing hands rapidly and for increasing prices.  These pieces of land do not have to be further segmented nor does anyone wishing to build on the land have to pay out thousands to have wells dug or electric lines put in.  There’s a stipulation however that a parcel of land on which one wishes to develop must have direct access to a road otherwise the purchaser has to pay significant sums of money to have access routes altered…something to watch out for when surveying land for sale in Northern Cyprus as this can have a strong effect on the value of the land.  Check title deeds for the word ‘yol’ (meaning ‘road’) and ensure one is marked in immediate proximity to the parcel of land for sale.

Larger plots of land are being banked by developers who can raise the finances necessary to get road access and segment the land into single parcels on which they can construct separate homes.  Such parcelling is an expensive pastime with the government currently charging around GBP 3,000 for each division and up to GBP 10,000 for access right amendments. 

As the recent population census in Northern Cyprus shows, the demand for housing on the island has increased by in excess of 30% in just a few short years - the demand for more homes, investment properties, holiday homes and retirement properties is on the up and pushing property and land prices up.  Even the much publicized Aga Development/Gary Robb debacle of 2005 couldn’t put a dampener on things because guess what – he’s back in North Cyprus, he’s been to court, been released and is back helping put things right and get construction underway again for those who bought Aga Development property from Amaranta Estates and Unwins Estate Agency.

Also according to the census (which apparently failed to survey everyone on the island!) one of the largest growth areas in terms of population was among the expatriate community – Northern Cyprus is rapidly becoming more appealing to more people as the amount of money coming from overseas (from the EU, America and Canada to name but a few) and being ploughed into infrastructure projects for example makes the island a far more civilized and attractive place to live.  At the same time the cost of living is low, the affordability and accessibility of good healthcare, social and education welfare is fantastic and so generally the news from the property market in North Cyprus is entirely positive!  Great news for those who have already invested and very interesting news for those considering their options…

Special Reports: Property News for North Cyprus

Northern Cyprus Property Buying Guide
Investors interested in property in Northern Cyprus should make themselves aware of the entire property buying process before committing themselves

Northern Cyprus a Property Investor’s Guide
A guide to investment into internationally recognised property in the real estate market in Northern Cyprus

Northern Cyprus Property Investment Potential
Of all the Mediterranean destinations Northern Cyprus has the most potential for substantial gains and income for property investors