Kibkom North Cyprus Forum

OK, I admit, I am a 'foreigner.' I was recently asked by a friend, 'Knowing what you know now, and if you had known, would you still have bought a property in the TRNC?' They said that no one had, so far, answered 'Yes.' Am I surprised?

I am seeing and hearing from others about the many property developments in the TRNC. Wherever I look, there is another housing development in progress, with villas being squeezed in. Often, 'shake hands with your neighbour' is the norm, as others are being built without apparent thought for their impact on long-standing neighbours. Most appear unfinished and unsold, yet more are being built. There doesn't appear to be a government master plan for determining where or how many new developments can take place, or for the necessary infrastructure. I may well be wrong, of course.

I wonder who is buying these new properties? Are 'foreigners' still buying, despite the now 9% tax? I hear that 'foreigners' who can't obtain their full title deeds are selling up at bargain prices to locals.

If the properties remain unsold, and the lurking danger that developers will go under, is the TRNC heading for another property crash similar to circa 2004?

Have a look along the seafront in Karsiyaka...it horrendous huge estates being built although there are empty shells of houses everywhere.

After 20 years I sold up end of 2024 due to passing of my other half. When we bought our villa in 2003 it was down a country like lane with very little traffic, what a difference time has made. An estate is being built opposite and apartments on sale for more than my place sold for, but who is going to buy them, they're hideous and the communal swimming pool is right next to what is now a busy road? I was upset at first but now glad I made that decision, North Cyprus is being ruined in more ways than just over development.

An oversupply of poorly built houses with no faith in the legal apparatus? I’m sure some will try to sell it as a small pause between booms though!

I don't know about a property crash per-se, but certainly the country I think is going to crash, and burn at some stage and it's the people that will suffer (more than they are now) not the "politicians". The administration has made more U-turns than Kier Starmer, mainly to try and get property moving under the guise of looking after foreigners and investors. But as I said in another post, they need to address many other factors as a priority. You mentioned infrastructure for one but this is already a problem. Power generation (or lack of it) another. Mains water as well. Even a few power outages while you're on holiday or a lack of water can ruin everything, but you get to go home after a week or two. Residents, foreign or native, don't have that option. I'm still keeping an eye on things and when our names are finally off our previous deeds hopefully this October having sold 2 years ago, we'll make a decision as to where we buy next. Considering the current state of affairs the TRNC is rather sadly looking unlikely.

NC is a satellite state or Turkey if the Turkish economy crashes completely then the knock on effect on NC will be disastrous..what holiday destination has water shortages power cuts stray dogs everywhere hundreds of unfinished houses dotting the landscape as well as very high prices for everything and overpriced poorly built houses plus the lack of direct flights.......

I must be in the minority, because I would do it again. I accept the rough with the smooth, make the most out of things, still enjoy living here and am grateful for each sunrise.

A lot of holiday makers can still come via the south's airports, its only ones who live here or spend a lot of time here find the only option is Ercan.
A lot must like it here as there seems to be a lot of vehicles and people on the island.
Would I go back to 1987? Probably not, I enjoyed the late nineties and early 2000's, but still enjoying life here, unfortunately the world is in a mess politically therefore very few places will not feel an effect.

Different areas opposite .central kyrenia is booming supported by high rents £600 for 1 bed there now.

Iskele falling too many new builds not enough people there.

Magusa rising supported by rent increases and locals on increased salary.

Other places will have there own story

If you bought well & have deeds prices have more than doubled everywhere here on average over the last 10 years. I appreciate some are not in that position. My guess is more have deeds than dont. From the get go here the advice is rent first then buy with deeds. Many followed that advice and will have done well.

As I said some will say it’s a small pause between booms

Steveodp, I am with you! Made some small mistakes but learnt a lot and still love it here. Everywhere changes, in the past 18 years what I remember of the UK has changed beyond all description and I would only move back there if forced to leave here. The grass is always greener - till it starts to die!!!

Im glad i bought. Done well here so far. All mine have deeds. I sold 2 last year both for more than double what i paid one i bought central kyrenia 2019 the other in covid in magusa at rock bottom.

Buy high sell low..
There are losers in every market i know 2 people who bought flats in uk city centres and are still in negative equity after 15 years. Another friend of mine bought a flat in marbella 15 years ago made a 5% loss last year he had his hols there for years. All new builds.

Worldwide its best to avoid offplan new builds..

French property prices havent gone up in years and the rental yieid is pants.

Central kyrenia has always been the place to buy here since i came 14 years ago. If you bought resale with deeds there at market price as per the advice always given here or the older other uk expat forum i doubt you would have regret. I cant speak for others but most people i know have made money here. Money isnt the only factor.

It's such a nightmare actually buying something my friend bought in 2024 using the same lawyer ? As the seller. Paid his money and had a pop. To date it still belongs to the seller the sellers passport ran out then the poa now they've told him he could lose the property as he can't complete as after 11 years the seller cannot be contacted. Court gave permission tape will not. What can be dome a

I bought an apartment in 2008 then bought a house Several years later (2013 I think) . It was only when I queried my PTP mid 2015 that I got an email 10 mins later to say PTP wasn’t through.
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Now call me suspicious, but the next day I got a email to say PTP had lost the file. I don’t think it was ever submitted.

When I again queried it January this year I was informed that there have been 2 x applications on my behalf. As expected one for apt, the other for this house - years after he he application should have been made!

Allegedly they had arranged a meeting with whoever but I’ve heard nothing since.

Believe me, there is nothing in my background to prevent PTP being granted.

I cannot wait to get out of this massively corrupt banana republic.

Nc2016 wrote: ↑

Sat 07 Jun 2025 6:15 pm

I cannot wait to get out of this massively corrupt banana republic.

I think this is a bigger problem than the poor build quality, over supply & crumbling infrastructure.
Who has trust in the property laws over here? And even if somehow you do trust them how confident are you that there won’t be a future change in the law that will totally change the saleable value of your property?

Confidence in things takes a while to build but can be lost overnight and when lost is even harder to get back

I always felt when the rules were abandoned in around 2000 as they thought PTP was going to disappear in unification houses should of been colour marked to enable buyers to make their own decision. Foreigners were never going to get PTP if in the vicinity of an army camp. My father saw a property in 1987 but it didn't complete for a year. When we purchased in 2003, he kept telling us the law hasn't changed, you don't buy until you get PTP. How right he was, fortunately we were able to sell the contract. The houses, last year still had to be parcelised.

The kocan for my house was ready when I purchased. My situation is purely down to incompetence on the part of advocate and govt office.

Nc2016. How familiar that is. One day, ask if you can pop up to see the offices (rather that, just walk upstairs as no one will stop you) and look at the paperwork. ) Its floor to ceiling with files, most yellowing with age. It resembles something out of Jarndice -v-Jarndice. There should be a sign saying Abandon Hope All Ye Who Enter here.

It is encouraging to read of some good experiences on here. Indeed the place we bought late 2018, we sold for more than double in October 2023. But as Reyntj said, money isn't the only factor and despite the new laws, I'd still be hesitant of buying again, as EnjoyingTheSun said, how do you know there won't be a future change in the law?

BB, I’ve had that ‘pleasure’. A few years ago when I needed the bit of paper from them confirming my my application number for residency. It took them 3 days to find my file! All they were waiting for was confirmation that the property is registered in my name.

I’d had get a letter from the land registry stating that very thing for the previous year’s residency. All I got was the Cyprus shrug. Obviously it’s easier to throw it to the bottom of the pile than actually be proactive and make a quick phone call! I guess it’s currently languishing at the bottom of an bigger pile!

I think people are reticent to talk about how well they have done when others have had the complete opposite experience. Which is completely understandable.

Ah, just wait till the digital data centre comes fully on line - should we all live that long - then there will be a sudden surge in Civil Servant vacancies, as the call goes out for data input people. Forward five years and you will still be hunting for a bit of paper as your file won't have been transferred into the data dump, been in this position in the UK and the simple answer was to archive all the old paper data and start fresh with the new digital data, in the hopes that nobody asked for anything from the past - lol. Good luck to anyone who has done well out here and made money at the same time, not us I am afraid but no complaints about that part of life.

waddo wrote: ↑

Mon 09 Jun 2025 4:10 pm

Ah, just wait till the digital data centre comes fully on line - should we all live that long - then there will be a sudden surge in Civil Servant vacancies, as the call goes out for data input people. Forward five years and you will still be hunting for a bit of paper as your file won't have been transferred into the data dump, been in this position in the UK and the simple answer was to archive all the old paper data and start fresh with the new digital data, in the hopes that nobody asked for anything from the past - lol. Good luck to anyone who has done well out here and made money at the same time, not us I am afraid but no complaints about that part of life.

Who said 'Irony is dead'?

I would think seeing the news on direct flights also the 5 year permit prices would at least stay same. Even though there are lots of properties appearing because someone is in the know. There must be a reason. I was going to sell i am not now till I see what happens next year

Direct flights? Was that a pig flying past my window? As for many properties appearing 'because someone is in the know,' isn't that what led to the South Sea Bubble or was it tulips (just showing off my school history lessons)?