North Cypriot developer hits back

11 December 2008

A ban imposed on Northern Cypriot property firms from exhibiting at property shows in Scandinavia is unfair and unjustly prevents access to companies that are legitimately selling property in North Cyprus, claims Property International.

The estate agency’s discontent comes after property firms from Northern Cyprus were rejected from exhibiting at a host of exhibitions in Scandinavia, following a series of complaints from Southern Cypriot property developers and agents.

Since the Turkish occupation of North Cyprus in 1974, the ownership of land on the island has been widely contested. As a result, property firms in North Cyprus have been targeted by protesters claiming that investors could be purchasing illegal land from them and therefore risk losing their property.

However, Property International report that properties in North Cyprus with pre-1974 Turkish title deeds have internationally recognised freehold title deeds, which they believe justifies selling property in the region.

Katrina Mullin, managing director of Property International, comments: “There is much confusion about the issue of land ownership in North Cyprus and there is no disputing that it remains an extremely contentious issue. However, while there may be companies in North Cyprus selling land that could transpire to have a disputed title deed, there are many agents that will not. We only sell properties that have a pre-1974 title.

“This practice of judge and jury is giving South Cypriot developers an unfair advantage and misinforming the public. There is a strong demand for property in North Cyprus, which is 50% cheaper than the South. North Cyprus also benefits from strict planning controls to ensure it will remain protected.”

Read the original story: Northern Cypriot firms shunned.