Cyprus

1,759 foreigners purchased properties in the occupied area of Cyprus within the ten last moths

Under the title “Foreign interest in real estate”, Turkish Cypriot daily Yeni Duzen (02.12.18) published a report on real estate in the Turkish occupied north.

According to the paper, “1759 foreigners have become property owners within ten months under the ‘law on the acquisition of real estate and long-term lease (by foreigners)’. In the same period, the amendments, which had been requested in the permits of 157 foreigners, who had the necessary permits for the purchase of immovable property, were approved. The paper examined the decisions regarding the immovable property permits from February to November 26 this year.

Meanwhile, owner of the “H&B property estate” and board member of the “real estate agents union”, Huseyin Sadeghi said that there has recently been  a trend from the Scandinavian countries. He added that the Iranian market continues, but the British market is “little if any.”

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