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Do homework, northern Cyprus property investors told

Article Date : 04 May 2009       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Do homework, northern Cyprus property investors told

Property investors considering the northern part of Cyprus have been advised that the complications involved in the self-declared republic demonstrate the value of good research.

Chief executive of the Association of International Property Professionals Paul Owen told those buying property overseas : "You need to do your homework, do your research and make sure you take independent legal advice to make sure you are buying what you think you are buying."

He was speaking after a case in which a British couple had to give up land they had bought in the north to build a house on after the court ruled it belonged to a dispossessed Greek Cypriot.

While northern Cyprus is an "extreme" example, Mr Owen said such principles should apply to anyone looking to buy overseas property.

Talks are currently ongoing between the Greek Cypriot south and the Turkish north about the possible reunification of the country, with property rights being one of the contentious issues under discussion.

Tags: Cyprus, Paul Owen
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