Unique History of North Cyprus
One subject our sales team at Kensington are asked frequently asked about by overseas property buyers who come to us when seeking their dream home in North Cyprus, is about title deeds.
Due to the unique history of Cyprus, there is more than one type of title deed available in existence in Northern Cyprus. It is well known that these fall into two categories.
The first is what is called Pre-74 Title, or internationally recognised title, which is property or land, purchased or owned by either Turkish Cypriot or foreign individuals prior to 1974.
The second is what is known as TRNC Title (formerly Eşder (exchange) Title). This relates to land or property that was relinquished by Greek Cypriots who left North Cyprus to settle in the southern part of the island, where they were given land or property equivalent to what they had left in the north.
It is important to note here that titles in these categories are classed equally and recognised as safe to purchase, with TRNC Title being guaranteed by the government of the TRNC.
More and more land and property investors in North Cyprus are becoming more comfortable that any property or land they choose to purchase is safe to buy, over the past few years, is something which is less of a potential issue, since the European Courts have endorsed a compensation system, which does not affect individual property buyers.
Kensington does, however, recommend any of our clients to seek independent legal advice to assure themselves that what they are buying falls into these categories. It is worth noting here that all Kensington projects fall into these categories.
Looking at property with either of these title deeds also gives our clients more choice, as Pre-74 Title Deed land makes up only 10% of the land in the North of Cyprus. Therefore, looking at either type of title will ensure clients see a broader range, both in property type and price.
At Kensington, we understand that for our clients it can be a very personal decision and again is something we would recommend is discussed with a lawyer.
With an internationally recognised title, this can, at times, come at a premium price, as there is not such an abundance of it available as there is TRNC Title. Our largest project to date, the superb Thalassa Beach Resort, is one such project. Developed on Pre-74 internationally recognised title, this beachfront location in Bafra, close to the Karpas Peninsula, was the perfect choice to develop our dream resort concept. Despite the fact that it is offered with this title, our prices are some of the most competitive around, something that we are proud of!
So, if you are looking specifically for Pre-74 Title Deed, then take a look at Thalassa Beach Resort where we can offer clients a wide range of property types from Studios to 3 bedroom apartments, complete with facilities and amenities which cater for everyone.
For property investors to North Cyprus, take a look at our film, which provides a great first insight into the world of Thalassa.
For more information on anything North Cyprus property related, feel free to contact us at any time, we are happy to help.
email : firstname.lastname@example.org
call : 00 9(0)533 862 1686
website : www.kensingtoncyprus.com