Cyprus, Nicosia

Elementary rules to follow when buying a housing in Northern Cyprus

Updated: 3 months ago

Advertised real estate in Northern Cyprus is in great demand. Investors tend to invest in reliable companies. But ordinary people often try to save money, which is understandable. But you also need to save money in Northern Cyprus wisely. Some very simple rules are important to follow if you decide to buy property here.

So. "Black realtors" work in Northern Cyprus. These are people who take advantage of the fact that you don’t yet know the features of the local real estate market. They will try to sell you the problematic object. Such "realtors", most likely, have recently arrived in Cyprus themselves. They have no reputation and can disappear at any moment. Therefore, check the agents with whom you plan to make a deal. Take a closer look at real estate agencies - these are legal entities that are responsible for their work. Don't skimp on the middleman.

If you have already decided with whom to work, then be attentive to yourself and your requests. Don’t let them sell you something that was not in your plans. Many are engaged in "steaming" illiquid options. Therefore, you need to clearly understand your goals when buying a property and make a choice by them.

Before the transaction, be sure to double-check the ownership (koçan) with a lawyer. It’s impossible to believe the right of ownership in Northern Cyprus on its own. And with a problematic title document, you can get a court case instead of an apartment.

Pay attention to the reality of the price. If you see a super cheap, but very attractive object with a good location, then most likely the price is set to the old one, just to attract attention, to take you as a client to work. Pay attention to such dishonest moves, because agencies with a proven track record act honestly.

Evaluate the liquidity of the object before buying. You need to understand how much the price of the property you have chosen will grow in the future and whether you can quickly sell it if you wish or rent it out profitably.

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