Any visitor to Northern Cyprus has a very rare opportunity to glimpse the old Mediterranean as it was before mass tourism arrived. It is often likened the market here to what was the experience in the 70’s & 80’s in many parts of the region now familiar to the package holiday market where. Portugal, the Costa del Sol in Spain and many of the Greek islands where once very similar to Northern Cyprus that in some measure has benefited from its isolation to rest of Europe, a rare sense of time and space still exists here. It really is a place to just …be.
Northern Cyprus has over 2500 years of history that mark it out as one of the most important islands in the Mediterranean. Its diverse rulers through the centuries have all left an imprint in the culture and architecture of the country. From the mountain top castle at St Hilarion that was fortified by the Lusignans, the Byzantine castle at the old harbour in Kyrenia and the Roman ruins at Salamis to more modern attractions such as the Korineium Golf and country club with its demanding championship course, that opened in 2006. Since the border between North and South was opened, locals and tourists alike have begun crossing from one side to another.
This gives the opportunity to sample the flavour of two cultures all in one day.
The country has a huge amount to offer visitors and buyers alike: a perfect climate, very low living costs compared to Europe, near empty golden sand beaches, spectacular mountain ranges, and friendly people and in Eurocoast, beautiful property available at extremely low prices.
Indeed, the ‘Green line’ between North and South seems to say more about the intransigence of politicians than about the many thousands of ordinary people who cross it every year. Continued United Nations sponsored talks on reunifying the island now seem to pushing in the right direction and a Cyprus settlement inches ever closer. Once a settlement occurs, house prices in the North are expected to at least double to find parity with prices in the South which means now is the right time to buy in Northern Cyprus.
Following the latest opinion given by the European Court of Justice we have sought the following statement to clarify some of the hyperbole in the press.
Following the widespread reporting in the media of the case of Apostolides v Orams (the ‘Orams Case’), we would like at this stage to clarify the current situation as we imagine that at first sight it may be of concern to anyone considering a property purchase in Northern Cyprus. The first thing that you must be aware of is that the preliminary ruling by the European Court of Justice (ECJ) is an opinion of the ECJ on the substantive points of EU Law raised in the case. This will now be referred back to the UK Court of Appeal which asked for the ECJ guidance on the EU law aspect of the case and it is for them to make a decision on whether or not to enforce the judgment issued by the Court in the South of Cyprus. Until a decision is reached by the UK Court of Appeal, the points reported in the media are conjecture.
At this time it is suggested that the only the information provided by the TRNC authorities can be used as guidance. We would recommend following the link below for further information on the status of the case.
http://www.trncinfo.com/TANITMADAIRESI/index.htm#1
It should be noted that this is not a legal issue on which individual advice to individual clients can be sought. Many people have raised the issue of whether transferring the title deeds into the name of another person or not taking title will provide protection in the event that the Court of Appeal rules in favour of Apostolides. It should be noted, however, that possession is a significant factor which may be taken into account in such an event. Whether the Greek Cypriot that may have owned your property pre-1974 will ever be able to prove and make a claim against you is very circumstantial and something that nobody can foresee.
All of the questions raised depend very much on the facts of the individual case. In all cases, potential purchasers must weigh up the information given and assess the various courses of action open to them and their possible consequences and make a personal decision in relation to their specific circumstances.
