Disadvantages of buying property in North Cyprus
Northern Cyprus, the jewel of the Mediterranean, with its stunning beaches, mild climate and rich history, seems like heaven on earth to many expats. The dream of having a house next to the azure sea, under the blue sky and in a land full of citrus fragrance is very tempting. But is buying property in North Cyprus your promised paradise?
Of course, North Cyprus has many advantages, which we will discuss in our place. But the truth is, no dream is complete without a bit of a nightmare. As there are downsides to buying property in North Cyprus, there are some hurdles to be aware of before you pack your bags and head to the northern shores of Cyprus.
Why should you know the disadvantages of buying property in North Cyprus?
You might think to yourself that what are the disadvantages of buying property in North Cyprus that we should think about? Imagine that you are excited to buy a dream property in North Cyprus, but after a while you face problems that destroy all your plans. Problems that could have been easily prevented with a little prior knowledge.
This article will help you get to know the disadvantages of buying a property in North Cyprus and make a decision with a more open mind. Being aware of these disadvantages does not mean that North Cyprus is not a good option for investment, but it means that you should make an informed choice by fully knowing the weaknesses and strengths of this region.
The first and most important issue in buying a property in North Cyprus: ambiguity in the title deed
Northern Cyprus is a region where the disadvantages of buying property are directly influenced by historical issues. Political conflicts and the separation of Northern Cyprus from its Greek part have caused confusion about the property ownership document. This is one of the most important disadvantages of buying a property in North Cyprus, which should be considered very carefully.
There are two main types of title deeds in Northern Cyprus:
TM document (TM): This type of title document belongs to properties that were built on government land after the secession of Northern Cyprus. The TM document is valid, but if there is any change in the political situation in Cyprus, there is a possibility of problems for the owners of these properties.
Armenian Exchange Deed: This type of document belongs to the properties whose land has been exchanged with the lands of Turks living in Southern Cyprus. The Armenian document is more valid than the TM document. But keep in mind that there is no 100% certainty about this type of document.
Don’t forget that when buying a property in North Cyprus, carefully checking the type of ownership document and ensuring its authenticity is one of the most important steps you should take. Otherwise, you may end up with a sweet but nightmarish dream.
The second major problem in buying property in Northern Cyprus: the incomplete infrastructure
Northern Cyprus is a developing region. This is one of the advantages of buying property in North Cyprus and it can be one of the disadvantages of buying property in North Cyprus. Why?
On the one hand, the development of infrastructure means the development of the area and the increase of the value of your property in the future. But on the other hand, the lack of complete infrastructure in some areas of Northern Cyprus can cause problems for daily life.
In some areas, you may face a lack of amenities such as well-equipped medical centers, high-quality schools, or an efficient public transportation system. This issue can be a challenge depending on the location of your property and the plan you have for residence or investment.
The third problem in buying property in North Cyprus: labor market restrictions
If you are planning to look for a job by buying a property in Northern Cyprus, you should know that you will face restrictions in the labor market of this area. The economy of Northern Cyprus is mainly based on tourism and agriculture, and job opportunities in these sectors require Turkish Cypriot language and related skills.
Unless you are skilled in one of these two areas, finding a suitable job in North Cyprus will not be easy. This issue can be one of the disadvantages of buying property in North Cyprus for those who plan to earn money by working in this country.
The fourth problem in buying property in Northern Cyprus: non-membership in the European Union
Northern Cyprus, unlike its southern part, is not a member of the European Union. This has its disadvantages. For example, citizens of Northern Cyprus are deprived of the benefits of free travel and work in the EU.
Also, the currency of Northern Cyprus (Turkish Lira) is not very stable and compared to the Euro, it is considered a weaker currency. This can affect your purchasing power in North Cyprus as well as the value of your investment in the long run.
The fifth problem in buying property in Northern Cyprus: language problems
The official language in Northern Cyprus is Turkish Cypriot. If you are not fluent in this language, you will face problems in communicating with local people, doing office work and even everyday life.
Learning the Turkish Cypriot language takes time and requires effort and perseverance. Lack of language proficiency can be one of the disadvantages of buying property in North Cyprus for those who intend to live permanently in this area.
Eighth difficulty in buying property in North Cyprus: Insurance issues
Health insurance, car insurance and other types of insurance in North Cyprus may not provide full coverage or the process of receiving compensation may be complicated.
Before buying a property in North Cyprus, you should get complete information about the types of insurances available in this area and their coverage. Also, you should make sure that the insurance companies are reputable and how they provide their services.
The ninth problem in buying a property in Northern Cyprus: the high cost of living
The cost of living in Northern Cyprus is higher compared to some other countries in the region. The cost of housing, food, clothing and other essential items can be burdensome for those moving to Northern Cyprus from lower income countries.
The 10th problem in buying property in North Cyprus: cultural restrictions
The culture of Northern Cyprus is somewhat different from the culture of Western countries. This issue can be challenging for those who migrate to this area for the first time.
Getting to know the culture and customs of Northern Cyprus will help you to better communicate with the people of this region and enjoy life in this country.
The 11th problem in buying property in Northern Cyprus: problems with banking services
Banking services in Northern Cyprus are of lower quality compared to developed countries. You may face restrictions on opening a bank account, transferring money, using credit cards and other banking services.
The twelfth problem in buying property in North Cyprus: Internet limitations
Internet speed and bandwidth are not uniformly available in North Cyprus, and you may encounter slow and outages in some areas. This can be problematic for those who need the Internet for work or study.
The 13th problem in buying property in North Cyprus: educational limitations
If you have children and plan to live in North Cyprus, you should also think about their education. The education system in Northern Cyprus is in Turkish Cypriot, and quality international schools may not be available in all areas.
The 14th problem in buying property in North Cyprus: recreational restrictions
The variety of entertainment in North Cyprus is not as much as in developed European countries. In some areas, you may face a lack of entertainment facilities such as cinemas, theaters, museums, and tourist attractions.
The 15th difficulty in buying property in Northern Cyprus: tax issues
Property tax, income tax and other types of taxes in Northern Cyprus can be burdensome for property owners and expats. Before buying a property in North Cyprus, you should get complete information about the tax system of this country and your tax obligations.
The 16th problem in buying property in North Cyprus: long distance to Iran
The distance between Iran and Northern Cyprus is relatively long, and traveling to this country takes a lot of time and money. This can be problematic for those who intend to travel between Iran and Northern Cyprus continuously.
The 17th difficulty in buying property in North Cyprus: problems related to the weather
North Cyprus summers are hot and dry and its winters are short and cool. If you are used to mild weather, you may find the weather in Northern Cyprus annoying.
The 18th problem in buying a property in North Cyprus: the possibility of an earthquake
Northern Cyprus is located in a seismic zone and there is a possibility of earthquakes. Before buying a property in North Cyprus, you should get enough information about the natural hazards of this area and the preventive measures related to them.
The 19th difficulty in buying property in Northern Cyprus: problems with animals
Wild animals such as snakes, scorpions and stray dogs exist in some areas of Northern Cyprus. This can be a problem for families with small children or people who are afraid of animals.
The 20th problem in buying a property in North Cyprus: feeling alone
If you are not familiar with the culture and language of Northern Cyprus, you may feel lonely at first. Communicating with locals and making new friends can be challenging in this situation.
final word
The disadvantages of buying property in North Cyprus mentioned in this article are just some of the challenges you may face. Remember that nowhere in the world is perfect and moving to any country has its advantages and disadvantages.
See more: Buying property in North Cyprus
Before buying a property in North Cyprus, do enough research, consult with knowledgeable people and be aware of all aspects of the issue. Only then can you make an informed and well-considered decision and enjoy your investment in this country.
Kargar Consulting and Investment Company with more than 14 years of brilliant experience in investment affairs in North Cyprus and property purchase in North Cyprus with 18 active branches in Iran, Turkey and North Cyprus, is ready to provide expert advice to you dear ones in the field of property purchase. and investment in Northern Cyprus.
Contact our experienced experts for more information and free advice.
Frequently asked questions about buying property in North Cyprus:
1. Why should we know the disadvantages of buying property in North Cyprus?
Knowing the disadvantages of buying property in North Cyprus will help you to make a more open and realistic decision to invest or live in this area. By fully understanding the strengths and weaknesses of North Cyprus, you can make an informed choice and avoid problems that you may face in the future.
2. What are the most important disadvantages of buying property in North Cyprus?
Ambiguity in the title deed: One of the most important disadvantages of buying property in North Cyprus is the ambiguity that exists regarding the title deed of some properties. This issue can bring many risks for the owners.
Incomplete infrastructure: Northern Cyprus is a developing region and in some areas you may encounter a lack of amenities such as well-equipped medical centers, quality schools or an efficient public transport system.
Labor market restrictions: If you plan to look for work by buying property in Northern Cyprus, you should know that you will face restrictions in the labor market of this region. The economy of Northern Cyprus is mainly based on tourism and agriculture, and job opportunities in these sectors require Turkish Cypriot language and related skills.
Non-membership of the European Union: Northern Cyprus, unlike its southern part, is not a member of the European Union. This has its disadvantages. For example, citizens of Northern Cyprus are deprived of the benefits of free travel and work in the EU.
Language issues: The official language in Northern Cyprus is Turkish Cypriot. If you are not fluent in this language, you will face problems in communicating with local people, doing office work and even everyday life.
3. Can buying property in North Cyprus still be a good option despite these disadvantages?
The disadvantages of buying property in North Cyprus do not mean that this area is completely unsuitable for investment or living. As mentioned in the article, North Cyprus also has many advantages that can make it an attractive option for investors and immigrants.
4. What points should we pay attention to when buying a property in North Cyprus?
Before buying a property, do enough research and consult with knowledgeable people.
Learn about all aspects of the issue, especially on issues related to title deed, infrastructure, labor market, laws and regulations and culture of Northern Cyprus.
Use a reputable and authorized company to buy property.
Read and review all terms carefully before signing any contract.
5. How can Kargar Consulting and Investment Company help you in buying a property in North Cyprus?
Kargar Consulting and Investment Company with more than 14 years of brilliant experience in investment and property purchase in North Cyprus, with 18 active branches in Iran, Turkey and North Cyprus, is ready to provide expert advice to you dear ones in the field of property and capital purchase. It is located in Northern Cyprus.
Our experienced experts will guide and assist you in all stages of property purchase, including finding the right property, completing legal and administrative procedures and property management.
