DON'T Buy Real Estate in North Cyprus! (Here's why)
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- Опубліковано 25 чер 2024
- Are properties in Northern Cyprus safe & legit? This video is crucial for all potential investors!
If you are interested in buying properties or land in North Cyprus, you definitely need to watch this video!
This is not a political video, however, I need to address some fundamental facts to better explain the situation.
Buying Northern properties is not as easy as sales agents say. I'm not trying to sell you something, so I always give you my objective opinion from first-hand experiences of being in the real estate market in Cyprus for many years.
I am talking about the pro's and con's of the Northern real estate market, potential problems and more. Also, I'm going to give you some important notes for your investment, so that you don't do a mistake that could lead to losing it all.
If you are looking for real estate services in Cyprus, you can reach out to me via cypru@ricardogorski.com
I make videos based on my experiences and the experiences of the hundreds of clients that we helped move to Cyprus. I'm not an accountant, lawyer or agent.
Contact me: Ricardogorski.com/cyprus
Connect with me on Insta: @ricardogorski
Songs: Causmic - Luxery, Sappheiros - Falling
If a Turkish Cypriot has the original title deeds for their property in Southern Cyprus they can claim their property back from whomever may “own” or reside on that property today. This has been validated by cases through the European Courts.
Very true, unfortunately the same doesn’t apply to the 200,000 Greek Cypriots who lost their properties in the North
That's not true. They only get reparations. I would know because this is the exact same process my parents along with all my relatives went through.
@@c.u.c7938 hi are you saying your family are Turkish Cypriot and they claimed back their pre 74 lands in the south and were only offered reparations from the ROC government? Thanks
Hi Rico! Absolutely love your videos have been so helpful. I’m planning to move to Cyprus next year from Canada and would love to get connected ask you some questions!
Hey Julia, thank you and nice to meet you. My contact details are in the video description. Talk soon!
I totally agree, thank you very much !
Hello, what do you think about the Turkish Deed properties in SBA area of Dhekelia region? Especially arround Xlethymbo and Pergamos? Their prices are cheaper than the market prices now. Is it an opportunity to invest in these properties which are at SBA region and very close to Larnacas. I really wonder your comments on this. Thanks in advanced.
I know a British couple who bought a flat that was built in Greek Cypriot land and she is now unable to sell it
Not true.. why should she not be able to sell the property? This information is not correct!
@@sandrakilic4338 Because the land is still legally owned by someone
My friend's parents had the same issue. Their paperwork wasn't totally legal, they ended up losing a lot of money after living in Northern Cyprus for 15 years.
@@Jim_KYByeh it’s a sad reality, heard many stories like that, a lot of Brits have come unstuck
I would not buy anything in the north of Cyprus other than those with pre-1974 Turkish title deed. Too risky and unethical. As for Turkish Cypriots, they are in a different position than third country nationals. I hope this meyhem of half a century is sorted out and Cyprus finds an eventual peace. =)
I watched the video - as a Turk, instead of buying a house in Montenegro, I decided to buy a house in Northern Cyprus.
Don't be envious of Northern Cyprus's growth compared to Southern Cyprus. We offer better ROI, more affordable prices, and a 65% occupancy rate. While you attract around 3 million tourists annually, we welcome about 7 million. With Turkey's strong support, Northern Cyprus is well-protected and thriving. Remember, if the competition is speaking poorly about you, it often means you're succeeding. Reach out to learn more about investment opportunities in Northern Cyprus...
I just got back from Northern Cyprus and do believe there is great opportunities there. @alic4837 please share more about investments opportunities there.
My family has land in Kyrenia, whether its an Israeli or Russian on our land we will take them to a European court and they will lose because we have the ORIGINAL TITLE DEED
How do you see in your mind that you going to a European court somewhere outside of the island of Cyprus and winning a court case will remove someone from "your" land? Like, walk me through the steps. Okay, I built a house on "your" land. According to RoC law, it's yours. RoC law doesn't have effect in the northern part of the island. What next?
@@MuzzaHukka puts a bounty on their head if they enter EU though 😂
Soon the EU will be over🎉 Have in mind that Germany now is stealing the Russian legal money and the property..
That's an important video! The place that no other country, beside Turkey, recognizes...
Thanks for your comment, Rony! Hope all is well.
@@Rico Danke, alles OK)))
😎Dear Rico we are new to your channel and have watched many of your videos. We find the contents informative and very well presented. We love❤ Cyprus and will be visiting Paphos very soon. We hope to see you in and around Paphos just to say hello and to thank you for making these great vlogs. Keep up the good work and wishing you good health, happiness and every success. Kind regards to you☀️😁x
Thank you guys for the kind words.♥
No one in there right mind would buy unless you just want to live in while you are alive. Not their land to build on in many cases hence why they are so cheap.
I know many Germans that have properties there or think about buying. Previously, I always gave them this information, and now I made the video.
If this young man didn't have properties to sell, I would say he is objective, sure north cyprus is a bit of a gamble, but as someone here said, Jews don't lose money, check bankruptcy ledger in every country, less Jews go bankrupt than any other race, and now they run massive construction companies there, if it does get recognised, and as I write this Erdogan is meeting the greek pm, then you're looking at the next Dubai in the Med, please visit the place before you accept anyone's opinion, you will be surprised and I have nothing to sell here..
Antisemite
What camera do you use?
I use the Sony A6500 with a 30mm 1.4 Sigma Lens.
Thanks bro@@Rico
You think the supply and demand is low in North Cyprus? If you honestly believe that then you are in for a very big surprise! You say the construction companies are so busy in the South and I know it is. But you saying the supply and demand is low in North Cyprus is not true! I can promise you that there is sooo much development going on right now and many people from different countries are moving to North Cyprus. Which is why you even felt the need to make this video because if it didnt you wouldn't have felt the need to make this video!
yeah, all those russian/ukrainian mafia moving their money there LOL
@trashcanmucous5153 The same is happening in the South, no?
@@ercanhakki4661I think that there is something in our water on both sides that attracts Russians. 😂
5:14 i don't think there is a need to wait what would happen next, cause the history told us what happen next time. -NOTHING WILL HAPPEN
The TRNC is unfortunately an illegal self-declared territory or so-called ‘state’, just like Abkhazia and transdinistria.
I can perfectly understand the locals buying and selling newly built real estate but for a foreign investor or a retiree, contemplating investment and settlement in the north is nothing short of financial suicide.
Unrecognized title deeds and future conflict over true land ownership are not trivial matters.
If you are interested in Turkish style investment and life style, it is safer to consider Alayna or any main land Turkish destination instead.
Until the TRNC becomes legal or get combined with Turkey, keep your money safe and away from the uncertainty which has been plaguing thousands of unwise investors I come across daily.
I can see you take your geopolitical views from the BBC & CNN!
@@CesaresChannelNo my friend, my views are my own and based on my experience, I witness daily cases of fraudulent property activities in the TRNC. I am actually a fan of the beautiful nature and people in the TRNC even though I live in the south. The sad fact remains as Roco states in the video, the TRNC is an illegal territory recognised only by Turkey ( not our topic of discussion). As such, the risk is glaringly obvious for a foreign investor or a retiree, this type of buyer needs to understand the facts they are getting themselves into potential legal future conflicts as the title deeds issued by the TRNC are mostly fraudulent or unrecognised internationally. The deeds are the subject of illegally acquired or sequestrated land from past Greek or non-Turkish Cypriot owners( a different topic beyond the scope of my views here). These are facts sir from people we know who run into trouble every day with their purchased property in the TRNC. These are facts not geopolitical views from the BBC or CNN that I don’t watch anyway.
I do hope that there will be an international settlement to the property issue in Cyprus which is central to the Cypriot problem. I fear it might not be in our lifetime, as this is a deep topic that can only be resolved with an international treaty like the Lausanne one for example, settling in the process this very thorny issue. Until then, buying a property in the TRNC is not a legal headache-free transaction or solid future investment for the uninformed investor, and that is my personal opinion.
I bought a villa in a village about 20 mins West from Limassol on the Med. It has tripled in value in 6 years and I also used it to get full residency as I'm English. My village is gorgeous.
I wouldn't touch Northern Cyprus with a barge pole. It's a tip compare to the South.
Congratulations! That sounds like a great investment. I guess it's close to Pissouri? Nice area.
@@Rico
You're no fool!
Yes very close to Pissouri....
I like your video's. Your content is excellent. Keep it up!
A tip - have you been there?
@@Bornadog
Yes. I drove over a few weeks ago.
The traffic was horrendous. The place was unkempt in general I thought. There were loads of immigrants everywhere.
It is obviously inferior to the South IMPHO.
I have 4 quick questions about both Cyprus and North Cyprus!
1) Who had the Bank "Bail ins" was it the EU South Cyprus or Turkish North Cyprus or both?
2) Does Cyprus have two different passports or just 1 for both sides?
3) Does either side sell "Postal" money orders?
4) Do both sides have Casinos?
1. Cyprus
2. Cyprus have EU passport, North is Turkish people they have turkish passport, not EU passport
3. Dont know
4. Yes
Thanks, Daniel, all answers are correct.
@@Daniel-fe6chI want to add that technically Turkish Cypriots can get a passport from the republic of Cyprus(eu passport) because legally the full island is owned by the republic. This has happened a few times they just have to go and register into an administrator office in the south, but this only applies to Turkish Cypriots and not turks.
As long as Turkey or Northern Cyprus does not join the EU, no one can claim the land on the northern Cyprus. Turkey literally does not even recognize the south as a state. So, no legal claim will be recognized ever from the south. And since Turkey and Northern Cyprus are highly unlikely to join the EU, the chances of loosing your land either way is highly unlikely. In 5 year, you can even enjoy 100 % on your investment if you work with good people.
The thing is Northern Cyprus is deemed to be EU land - already joined - under the occupation of a guarantor state as per the 1959 Zurich Gurantee Agreement.
@@streetbroom it failed in 1963 when there was a Greek coup. Moreover, it has nothing to do with the EU. The South is the EU member since 2004. That's it. The EU exceptionally accepted their membership despite territorial disputes. However, it doesn't have rulling over the previous issue. Cyrus was never a one nation in history. Greeks are Greek and Turks are Turks there. So, there is no solution through this.
@@yasintokat2268 True, I agree with you. EU should never have admitted Cyprus as it is for many reasons, e.g., Cyprus being a country with territorial disputes, Cyprus shold not have been a member of an organisation unless both TR and GR are members, that Turkish Cypriot (as the founding wing of RoC in 1960) interests were never negotiated in the negotiation process, etc. But at the end of the day, Turkey is in Cyprus to guarantee the non-division of the island and legally north and south parts are one despite in practice they are not. We should occasionally read the gurantee agreement. Even the declaration of TRNC highlights reunification as a goal.
Don't by anything in real estate in north occupied Cyprus...you going to have legal issues !!!
I bought a property in the south of Cyprus .and yes we can get our deeds quite easly .thats not the problem .i boight a propetty brand new of the builder in 2006 and paid what i thought was a fair price ..17 years later id like to sell it . Amd now find its now only worth about half of what i paid. Prices in Cyprus go down over time. People want new properties with all the extras and expect older properties to be cheap . So i buy a propety it costs me €200 k euros after mortgage costs interest and the swiss franc morgage fiasco it cost me €400 k euro . But ive to market it at close to the original price if not less . Thats a €200 k euro loss if my maths are correct
Were as in the UK the market may go up over time in Cyprus thats not the case. So please be aware. This is one thing they dont tell you about.
In last 20 years property prices in south of Cyprus has more then double. There is demand for old and new. May be your property is not in good location and is not in good condition. May be you did not haggle with the builder and paid too much. Mortgage should not come into account of this property valuation. From your calculations your mortgage cost you 200.000 euros, that's 100% of the property value, something does not add up.
I don't think you can include interest costs as part of your purchase price when doing your analysis. Real estate investors usually consider this separately.
First of all, there are natural wonder mountains, forests and seas from the north of the island to the end. It has the perfect climate, food and beverage facilities and the best service in the most beautiful part of the Mediterranean. The shortcoming is that there is no good state management, such good features cannot be found at these prices. My investments have been 10 times in 5 years and I will continue to do so. stop producing political content, see the facts
@Olgacucar191 Did you even take the time to watch the video until the end? The beautiful part of the island you are referring to, belongs to Greek-Cypriots. We have titles for our lands and homes. It was illegally occupied through war and is ONLY recognised by Turkey. Many people of low ethics and low understanding of laws are now trying to benefit financially and they call it "political content". All the facts are in this video!
It is illegally occupied territory. It is not yours to buy. Get some morality.
You G.C,s come n get if you cannn 😂😂😂
Well, I do not fully agree with what you said. It really depends on the agency you are dealing with. If it is a well reputated one, they will sell you a used property that was already pre-owned by turkish owners or you will get a property with so called exhange certificates, where a previous greek owner has already been compensated with money or a property in the south that was pre-owned by a turkish person. Other so called off plan properties are mainly build on land, that did not have any former Greek owner. Yes, of course you have to be very carefully before you invest and do you research in advance. In case I would decide to move to Northern Cyprus, I would rent a property, rather than buying and invest my money in other things or other properties probably elswhere! This will keep you much more flexible rather then buying one and being stucked in one place!
We have land in Famagusta 2 small plots and 1 very large plot. One near glapsides is being built on the other has a road through it. The larger plot was empty until recently. I can assure you when the time is right we will claim them back and don't really care what happens to the people who paid to illegally buy a property there.
Hopefully we can find a solution for all Cypriots to live in peace and prosper
Rico its a huge step for a German to make this video, because my recent interactions on the topic with German Digital Entrepreneurs and Nomads, who choose to live in the free European part of Cyprus, have been extremely dissapointing. I can never understand the lack of interest of Europeans who live in Cyprus, to learn about Cyprus history or have the least amount of EMPATHY on our issue. Its part of being an educated and ethical human.
Its like the only thing northern Europeans and Germans who move to Cyprus care about is how to save money on taxes and have good weather. And a lot of them now trying to benefit financially from illegally occupied land! No respect for history and culture. When I go to any country, I try to connect with the local culture and I educate myself on the history. I don't go around being rude and insulting people who have lost everything to war!
I know you try to not upset anyone with this video and just present facts, but there is one thing you could fix in the next video:
Explain that Cypriots do not call the "north" part of the island "north" but call it as it is: Occupied Cyprus. ILLEGALY Occupied by Turkey through war.
Not Germans are building properties here, these are only buyers. Whats about the Developer?
@@heikeprivat5543 the developers are either Turkish and Turkish Cypriot who are building most of these properties, on land owned with titles by Greek-Cypriots including myself and all my family. In the case of a solution (which is a very probably scenario at this time with Turkey constantly provoking Greece and Cyprus with war and Europe wanting to keep stability in the region), all those illegal properties will need to be returned or reinbursed as part of the solution. Turkey took that land through WAR. Those titles that these illegal developers sellm are not valid and will belong to Greek-Cypriots who used to own them before the war. You are buying land of refugees who live a few kilometers away.
@@PavlinaPapaloukaTVand what is about the Turkish Cypriot property which was given to Greek Cypriots ? Limassol for example was a mixed city and if the Greek Cypriots would not have started an ethnic cleansing in the name of enosis then Cyprus would be still united today. Cyprus was destroyed by Simpson in the name of enosis.
@@PavlinaPapaloukaTVthe Greek Cypriots really think they are the victims even though the Greek Cypriots have tried to kill all Turkish Cypriots even children and the men raped their women.
Education is a choice my anonymous "friend", who is hiding behind a fake profile to come in the comments and try to make a silly point with no basis, but you are obviously Turkish or Turkish Cypriot and I am sorry that you keep dragging this issue, because if Turkish Cypriots wanted their freedom, they would find a solution and they would also get their properties back, but they want it all and they will get burned.
The borders are open since 2003 (20 YEARS!) and no Greek Cypriot hurt any Turkish Cypriot (while they insist to present us as monsters who wanted to kill them) on the contrary, Turkish Cypriots they keep killing Greek Cypriots or causing trouble!
Oh and regarding your question (Again, we come to EDUCATION IS A CHOICE, READ THE HISTORY AND THE NEWS) Turkey invaded illegally through war (I don't know how difficult is that for you to grasp??), so the minority of Turkish Cypriots HAD to flee to the occupied site.
There are cases now when some of them get compensations for their properties in Larnaca and Limassol, because we are decent humans following the laws, and in the same way we should get compensations for our properties in the occupied side, but hey, we are dealing with a monster Turkey which is a nation build on blood and people with your DNA who have that blood in their bloodline and won't give up.
Karma is a bitch though and its going to get them, all big empires fall. Your time will come.
Imagine buying a house in an OCCUPIED land. You must be desperate for a reason (see russian buyers) or just superficial.
But he says that in the South you are maybe also buying occupied / stolen land from a former Turkish Cypriot owner. It is just that the EU law, in a cynical way, has made official that these lands are lost for their former owners. This is not moral at all. This is just being backed up by the strong power.
Exactly that!
Russians build the South at the 90” just remember this. Never buy a property at the South because Turk will re-own this land again.
My dear friend, please please tell the truth, I’m still waiting for my title deeds in south Cyprus after twenty five years , it’s all the same, I lost my money and dreams of mine here in Europe as you call it
Sorry so many wrong informations…i cannot agree at all..
Not surprising. I would never even consider buying in south Cyprus, let alone in the north. Me and my wife have lived in Protaras for over a year now and have considered buying several times, but after seeing the consistently low quality of new construction, ridiculously inflated prices, imminent risk of the next bank run or martial law, and amount of third world bureaucracy, corruption, and downright scam you have to go through to become an owner it became very clear to us that buying real estate anywhere in Cyprus would be an even riskier investment than buying crypto. Even if I was a multi-millionaire, I would never diversify in Cyprus, sorry. Personal experience of living here has taught me it's just not worth the risk.
For whatever reason, there's a hype on these properties. Especially Germans think it's something very interesting. That's why I made this video.
If turkey ever joins the EU then Yes, things will chance. however Cyprus will veto the application all the time the island remains divided and a single Turkish soldier remains on the island.
Then there's the question of the 200,000+ forced Turkish migrants and there descendants, can they stay ?. Cyprus will say NO.
Well, actually it's a PRO not to be in the EU. Look what is happening with the EU, it's crazy.
Dont get me wrong I like rico’s videos but this isn’t true trust me I live in north cyprus
He is just shaming North because he wants to sell South. Its not as bad as he is making it seem. Many people owning properties here in peace
Northern Cyprus is full of bad money my bro. I've wanted to purchase a property down there but something just throws me off, I don't know. Southern Cyprus >>>
The turkish cypriots have so or so established themselves in north cyprus now. What are you going to do? Threw them all into the see and they swim to turkey? There is not one single greek residing in north cyprus. Its 50 years now, 50!!! Since they are there in their own part and you may not forget that they already were in cyprus before the war. Now they have a real identity, they have a de facto country and land they control. They will never give this just away. Despite of this, their country is recognized or not they have rights on cypriotic land too. So if greeks get land in the north turks will have same rights in the south, so i dont think greeks in the south who gathered land that turks left behind will be happy. I tell you what will happen. The country will either be recognised by one country after the other or it will reunify with the greek side as equal partner. At the end always money talks and for the moment north cyprus is great possibility to earn money for corporations etc. If i dont know anything i kmow one thing. Jews never go in into a losing business. And many many jews bought land and other properties in cyprus. They always know how to earn money and dont do monkey business. This isnt antisemitism its more admiration towards them. So when you see a jew invest somewhere just copy him and you will win. I bought 2500sqm land and 2 apartments in north cyprus. And i know it will soon match south cyprus prices so i expect 4 times the amount i invested at least.
There are Greek speaking Cypriots living in the occupied area and there’s is a Greek/Turkish village inside the green line.
The republic DOES NOT sell land belonging to any Cypriot that fled to the north. North Cypriots have the right to sell and rent their property in the south. North Cypriots have full access to all government services from the republic of Cyprus. Your entire option is completely wrong.
@@andkyrmar the turkish cypriots tell other things than you my friend. Check it again.
@@andkyrmar you mean pile that was not allowed to get roads from the turkish side and was stopped by UN.
The north part of Cyprus, is occupied by Turkey since 1974
MILITARY OCCUPATION
The majority of all those are still our stolen lands and properties
PLEASE
We expect from you people to RESPECT that
What everyone make a fuss about south n north ??? Fair play , north belong to turkey 🇹🇷 well done ... i dont see any pr ... and EU why they need to have control over ??? They have enough countries in EU 😂
north cyprus is currently the best in the world to invest in property
Very informative video. My grandparents and parents were displaced by the Turkish army in 1974. The title of their property has now passed to me. But I am not allowed to enjoy my property so I am beginning legal action against Turkey. To date Turkey has lost each legal action, so I expect to win my action as well. Anyone who has wasted their money by buying my property in the North. Will end up losing their money as my rights are confirmed and Turkey is charged with paying me for loss of use for the last 50 years
Firstly I’m neutral on this and i have no bias on the Cyprus issue but let’s say even if you obtain a judgment against turkey, how do you go about enforcing this….? I mean can you really send bailiffs run to the country with a questionable humans right record and one of the largest standing armies in NATO…?
@@michaeljose8122 They have paid out on all the cases they have lost so far. They have also set up an Immovable Property Commission, to deal with the displaced people who have been forced from their properties in the occupied areas. They know they are building illegally on our land.
you've got it right. Turkey will just pay you the money and that's it, and you will no longer be the owner of the land. The private persons who bought your land will not lose anything, Turkey is paying for it.
it takes 10 or more years in the ECHR to "take turkey to court" and theres only been 2 successfull cases
@@trashcanmucous5153 Thats not true. All cases are now transfered to the IPC in the occupied areas. Every case is successful. Because the legal owners have been displaced. It takes approx 5 years for your claim to go through
Quality content as always ❤
Thank you!
Rico so very well stated and informative! I have land in Famagusta left to me by my father. Turks since built condominiums on my land. As you stated when and if there is finally a solution, it’s going to be very difficult to sort everything out. In the North they are building everywhere mostly on GC land. I agree with you, that investments in the North are very risky as most deeds are of no value. I understand lots of Russians and Israel’s are buying up property and land. It’s not going to end well!
BTW you handled the sensitive part at the beginning very well and there were no political assumptions on your part. Thank you!
Interesting story, Andrew! Thanks for sharing, and thanks for understanding. I appreciate it a lot! See and talk to you soon!
It was hard for him to admit that North Cyprus is a better place to invest
We support north Cyprus
As a property owner in North Cyprus I disagree with all of the above. From the infrastructure to the fact that the property can be taken away by someone. For many years there has been jurisprudence approved by the international court. There is a special commission, where Greek Cypriots apply and they are paid compensation for the land, after which they can not claim for this land. If everything was so bad, then we Europeans and British would not buy real estate on the North side. In the last 1.5 years the price of real estate has gone up 2-3 times. Prices are fixed in GBP
Your content is like slugging off Palestine and claiming Israel is only official country.
Very good, informative video ☺️
Thank you Yvonne!
Disagree. Buy with a big developer, and you will be fine.
What are you talkin about my friend ? I guess you don't know and you don't have the knowledge ? Please contact with me and I can explain to you about North part of the islad ?
Do not lie to your customers with such false information!
we support north Cyprus
North Cyprus is far better invest opportunity than dying south Cyprus. Now the Russian invest in the North as before they did and build the South. The nature is far better.
Justice for Turkish Cypriots !
Justice for all Cypriots, north and south.
@@andkyrmar the Turks defended
no Justice for criminals
You know what id still choose the North. 1.Because no EU meddling 2.This is 2024 Turkey has an army..a strong army lol 😆
i wonder if you could at least get a tax residence in the Northern area, maybe.
You asked for opinions on Moral grounds so here is mine.. I'm from the UK and I understand that the Greeks began murdering the Turks. Nor the British or the UN cared much so the Turkish Army intervened but never left because they said they gave blood so they retained the land for their Turkish population - a logical view point. However, you can never deny that this whole mess would most likely not have happened if the Greeks did not started killing the Turks. So from a moral stance, one must first acknowledge and understand that it was Racism from the Greek population that started this whole mess. Also, since 1974, two referendums have been held and Cypriots from the north voted (on both occasion) to join the south and become one nation.. but the south rejected on both occasion, (on racist grounds I'll add). False pretence will only go so far, it might even backfire... in my case having heard the full story and might I add, "the hypocrisy" (alongside other reasons ofcourse) I decided not to go to the south and remain in the North.
Sorry but your knowledge is very rudimentary. Killing started 500 year's ago. GCs killed TCs for sure but it's way more complicated.
My friend read history 😂😂
@trashcanmucous5153 if as you say the monuments existed longer than Greece then they can't be claimed as Greek 😂
BRAVO
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