Cyprus-Forum.com

[boomerang]

Crisis for northern Cyprus property market


Members of the AGA Buyers group. The flag speaks for itself.
By Andy Ioannou 17.MAR.08

A title deed crisis appears to be brewing in the occupied areas of northern Cyprus.

The revelation comes after a Turkish Cypriot daily newspaper reported that local commercial banks are now refusing to recognise title deeds issued by the northern Cyprus "government".

The Star newspaper wrote that banks are not allowing any loans for mortgages on Turkish Cypriot title deeds – the paper also claimed that most of the construction work on new properties had ground to a halt.

Construction sites in Salamis were deserted this morning and a local resident told the Famagusta Gazette that they had not seen workmen for the past month.

Meanwhile, a group of British ex-pats called the AGA Buyers Action Group have started a high profile campaign to protest at what they describe as the "rip off" and crimes against British citizens trying to purchase property in northern Cyprus.

Referring to several recent property scams in the occupied areas, AGA wrote, “What none of us can understand is why a small group of greed-obsessed individuals are allowed to get away with causing so much pain to so many people? Somebody in power in Northern Cyprus must be able to do something to put things right – hopefully sooner rather than later".

It’s known that the number of foreigners investing in land and property in northern Cyprus has slowed dramatically and property prices in the Kyrenia district have fallen by 40% in recent months.

The Star concluded its report by noting that people have lost their trust in local contractors and that cases of fraud against foreign buyers is on the rise.

http://www.famagusta-gazette.com/default.asp?sourceid=&smenu=69&twindow=Default&mad=No&sdetail=2155&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2350&hn=famagusta-gazette&he=.com

[bill cobbett]

I've been in a crisis in the northern Cyprus property market since 1974. Some b......d has pinched my land, not to mentions my dad's house, my dad-in-law's house and his land etc etc.

[Oracle]

You'd think there would be a Law against people pinching other people's stuff

[shahmaran]

You'd think there are laws for trying to drive people out of their country and burying people in mass graves en mass, but what do you do, nobody seems to care

[humanist]

its okay when Turkish speaking Cypriots do it ......... there is always an excemption their above the law so they think.

just like they think its okay for others to denegrade the experiences of mothers loosing 18 year old sons.

[bill cobbett]

You'd think there would be a Law against people pinching other people's stuff

..and a law to stop greedy ex-pats buying other people's land on the cheap and on the strength of dubious deeds.

[shahmaran]

Oh i know, we could take the law into our own hands and fight for out freedom regardless of what anyone says?

Some people call it self determination, other people call it "bastard murdering traitor thives who came here uninvited and took our shit and didnt want to be a part of our wonderfull culture, i mean who the hell wouldnt want to be a part of OUR culture, god dam fools"

[shahmaran]

Ahh Humanist you beat me to it

[Oracle]

Is anybody else experiencing technical difficulties with this thread?

[bill cobbett]

You'd think there are laws for trying to drive people out of their country and burying people in mass graves en mass, but what do you do, nobody seems to care

Shah old boy. A lot of people care. Almost all the people on this Forum care. I suspect you know this.

I think we would all do well not to take the murderous death of even a single Cypriot ( or anyone else ) lightly and certainly not in some silly, useless posting.