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why did you move to trnc

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anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 15:48

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Message 1 of 32 in Discussion

what motivates people to invest in the trnc?

was it the prospect of property prices rising to match roc in the future

was it that you wanted one foot in another way of life.



thinking back to when you made that decision to buy in trnc, if you are honest with yourself what was the motivation.



for places like dubai it was the dubai dream and the huge increases buying off plan , when the property was built.

but what about the trnc?



mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
06/08/2010 16:34

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Message 2 of 32 in Discussion

I haven't invested.... When I worked in Nicosia - commuted from L'sol nearly daily - I hoped for a settlement in 2004 and hoped that I could invest ... knowing that I wouldn't be 'offending' anyone - I respect my govts.foreign office advice on buying in Cyprus..( anywhere)





The part of CY you refer to is beautiful and the thought of a 20 minute commute through the mountains seemed blissful to me....



I read of folk who have problems and I'm glad I didn't ....



However, if there WAS a settlement..



cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
06/08/2010 16:36

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Message 3 of 32 in Discussion

welcome to north cypruss mmmm



suzi1951


Joined: 14/02/2010
Posts: 191

Message Posted:
06/08/2010 17:06

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Message 4 of 32 in Discussion

Got offer of use of a friends villa for a holiday, came a few times, got to know like minded people, loved the spirituality and ambience of the place, did my sums and discovered by selling in Scotland and buying resale in TRNC I could afford to retire early. Have now done so, am aware of issues to come, but am very happy with the decision. Also feel strong enough to face the inevitable challenges that lie ahead. Had intended to rent for a while first, but things just fell into place and we have our own villa in Karsiyaka.



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 18:11

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Message 5 of 32 in Discussion

so suzi you could use your sale of scottish property to buy in trnc and then retire off the rest.

not many places left where you can do that



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 18:18

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Message 6 of 32 in Discussion

anlusan...msg 5



Buying in the TRNC is easy......legally owning after buying is another matter.



Most people,if they are honest,bought in the TRNC because it was so cheap compared to other places in the Med.

They were seduced by cheap prices and empty promises ,but can now see the TRNC property market and TRNC for what it truly is.



I don't want to discourage people from moving to the TRNC , but please choose renting rather than buying.

Don't make the mistake that so many others have.



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 18:27

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Message 7 of 32 in Discussion

lol cronos.

you can buy property on exchange title deeds. and if the greeks get upset the trnc deals with it.

if you want to buy property pre74 you can either own the deeds through a company or a trust, both of whice entitle you to sell on.

the wholesale purchase of ex greek land is already done and dusted , no going back. and once uae, saudi, lebanon, syria, egypt, algeria, morocoo etc in the med recognize the trnc under turkish persuasion the place will be a boombing trade port, and the 70k you pay for a villa in the trnc will probable rise to more than the price of the greek side with a junk status protector.



lets see what are the odds that trnc prices will match roc prices compared to the risk trnc prices will be worthless.

I would put it at 98% to 2%



and thats why people who have no affinity to trnc are starting to que up in their droves. they missed the dubai boat, but are not going to miss the trnc boat



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 18:56

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Message 8 of 32 in Discussion

anlusan...msg 7



You obviously have a hidden agenda and a vested interest in promoting property purchase in the TRNC.



Good luck with that....you'll need it !



Your comments regarding title deeds are misleading and ludicrous.

I also note that you fail to mention the problems getting PTP and a kocan?

What about mortgages and memoranda?



I had to smile to myself when you mentioned Pre-74 property.

I fell for that particular scam 5 years ago ,thinking I was doing the right thing.

The TRNC government have since moved the goalposts and are denying PTP to foreigners on Pre-74.



Don't deny it...it's happening !

I ended up selling it on to a TC...at a loss...so as not to pass the problem on to another poor Brit or foreigner.

Great investment !



If it's such a fantastic investment opportunity I suggest you keep your secret to yourself....snap up all the bargains....and watch your fortune grow.



"This time next year Rodney , we'll be millionaires



Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/08/2010 18:58

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Message 9 of 32 in Discussion

LOL so true cronos.



yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
06/08/2010 19:00

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Message 10 of 32 in Discussion

re msg 5,

anlusan;



>>>"

so suzi you could use your sale of scottish property to buy in trnc and then retire off the rest.



not many places left where you can do that "<<<<



%100 in agreed on that comment with only problem being in 'dodgy builders' and of course not to forget few changes needing to be made by government regarding the 'law'.



I still wouldnt change it for the world,even if I had to live in a shed.



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 19:49

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Message 11 of 32 in Discussion

cronos,

no agenda, do not own any property and am not selling any, although i have a vested interest in trnc remaining trnc and not being a vestige of greece.



yes you cannot own a pre 74 title unless you are turkish cypriot. However you can own a company that owns a pre 74 title with deeds , or you can own a trust which owns a pre 74 property with deeds, and both of these options entitles you to sell and live as you wish.



as for ptp.

if you look at the property pressure group they are pushing for pre land survey before sale to pre-empt any military objections.

but again it matters little as even if you are not granted ptp you can hold the title deeds through a trust company

which gives you the same rights as holding the deeds yourself



ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
06/08/2010 19:52

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Message 12 of 32 in Discussion

msge 11



"i have a vested interest in trnc remaining trnc and not being a vestige of greece".



Could you elaborate Anlusan



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 19:55

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Message 13 of 32 in Discussion

anlusan



Whilever people such as yourself continue to make excuses for the endemic corruption and illegality within the TRNC property market ,then it deserves the fate that can be foreseen.



However,I applaud your honesty for admitting "yes you cannot own a pre 74 title unless you are turkish cypriot. "



No-one in the TRNC govt will actually admit to this ,and estate agents and advocates are still allowing Pre-74 Turkish Title properties to be "sold" to foreigners without explaining that they will never own it !



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 19:58

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Message 14 of 32 in Discussion

cronos

you where not actually honest with your reply. I said

yes you cannot own a pre 74 title unless you are turkish cypriot.

but you can own a trust or a company that owns the title , which gives you the right to sell it on, live in it etc, etc



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 20:12

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Message 15 of 32 in Discussion

anlusan....I think we know where the honesty lies !



Show me anywhere on a TRNC govt website ,or on a TRNC advocate or estate agent website,that states that if you want to buy Pre-74 Turkish Title as a foreigner then you will have to do it via a trust or company formation ( with all its inherent costs and tax implications)



Don't spend too long looking....because it doesn't exist !



Stop making excuses for the inexcusable.....the system stinks!



spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
06/08/2010 20:22

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Message 16 of 32 in Discussion

Sorry in thinking that the post said why did you move to North Cyprus..Not what problems do you have because you moved to North Cyprus ! Sometime I do feel that members forget to read the thread and stay on topic.. )





Spider,X



Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/08/2010 20:23

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Message 17 of 32 in Discussion

"..the system stinks!"



Yep, sure does..



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 20:27

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Message 18 of 32 in Discussion

Spider.....never let the truth get in the way of a good story,eh ?



Keep living the dream. ;-)



Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
06/08/2010 20:29

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Message 19 of 32 in Discussion

But..........it costs you a fortune every year to do this Trust, not to mention the initial set up admin charge of around 3000. At the end of the day your property is still legally owned by who ever it has been put in Trust with and although you will have agreed a contract with them, HOW SAFE ARE CONTRACTS IN THE TRNC?



It is a typical TRNC solution and fails miserably to safeguard those who have paid in full and in good faith.



Making such suggestions just shows how much the TRNC is not interested in proper solutions and continues to promote half baked ideas rather than promote effective changes.



People considering buying in the TRNC under this present system and knowing what is happening with so many buyers,must have had a lobotomy.

The rule has to be "no kocan, no money"



magicart


Joined: 05/10/2008
Posts: 985

Message Posted:
06/08/2010 20:38

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Message 20 of 32 in Discussion

We invested in NC because we wanted to get away from brits having their morning chats in the gangways of Tesco and holding up the customer flow.



Sorry to report they have been spotted doing the same in Lemar/Tempo and Starlings.



Maybe its time to move on!!



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 21:03

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Message 21 of 32 in Discussion

I have a question for you cronos, that i hope you answer honestly



If eu citizens could buy trnc property exchange and pre74 without any hassle .

what would be the implications in terms of

a) property prices and affordibility for locals

b) eventual citizenship and residency - in terms of the demographics



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 21:35

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Message 22 of 32 in Discussion

Anlusan....are you serious?



Is this the best excuse you can make for the TRNC property market?



The term "hassle" does not come anywhere near describing the nightmare that many foreign buyers find themselves in...through no fault of their own !



And I fully understand your concerns about affordable property for locals and the effect of ex-pats on the demographic.....but you can't have it both ways !

If you don't want too many foreigners to buy ,then don't build the properties in the first place and don't sell them.

It's that simple !



But no,what the TRNC have done is promoted a property boom from 2004 to 2009,and SPECIFICALLY targetted foreigners with cheap prices and empty promises about PTP being "just a formality".



Now how about you being honest with all of us?

What is your connection to the TRNC govt and/or the TRNC property market?



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
06/08/2010 22:40

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Message 23 of 32 in Discussion

cronos, no connection to trnc govt or trnc property market



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
06/08/2010 22:53

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Message 24 of 32 in Discussion

anlusan...thanks,but now I'm struggling to understand your bias and why you are defending the indefensible !



Anyway , any chance of commenting on my "you can't have it both ways" scenario in msg 22 ?



Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
07/08/2010 00:40

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Message 25 of 32 in Discussion

Cronos i have to agree with your take on this thread. Promise of long term boom but a lot of people caught by the bust!



Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
07/08/2010 09:32

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Message 26 of 32 in Discussion

Re message 4. We too have found that by selling in the UK and moving to the TRNC we can retire early.We have chosen the longterm rent and live off bank interest route. Out in September and can't wait!



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
07/08/2010 10:11

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Message 27 of 32 in Discussion

cronos

its a delicate balance



bit like doing the ability to do business in the gulf states. If they wanted to they could make setting up a business, buying property a doodle, but they don't want the demographics to change or ownership of the assets to be foreign owned, and so the laws are there to slow things down.



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
07/08/2010 10:14

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Message 28 of 32 in Discussion

thats really good jefferson,

and if somehow you could bring in a little earnings for doing a few hours a week, it would all stretch much further.



But don't you worry about not having a foot (property) in blighty.



Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
07/08/2010 11:35

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Message 29 of 32 in Discussion

We are still letting one property which will be there if and when we go back.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
07/08/2010 11:39

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Message 30 of 32 in Discussion

"Way to go Jefferson" sounds to me like you've got your loaf screwed on )



honestie


Joined: 22/02/2009
Posts: 468

Message Posted:
07/08/2010 13:09

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Message 31 of 32 in Discussion

Anlusan



any idea of the cost of buying pre 74 deeds by putting in trust. this was also a suggestion by advocates in respect of pruchasers concerned about their assets in the EU since the orams case.



Again its a way round things and costs you.I can see the point re the purchase of pre 74 deeds being to turkish cypriots and the demographics but we and by that mean foreigners have been caught up in the politics greed and corruption of TRNC



Yes us foreigners may have been classed by some as greedy but that doesnt just apply to TRNC its been all round the world thats where investments start but for many it was for a home that gave a better way of life and to make their hard earned money go a little further and nothing more simpler than that.



when greed comes along then usually corruption comes along too.



Out of interest Anlusan are you just interested in the developments inTRNC on a personal level! Mind you anthing can be said we wouldnt know but some interesting comments!



BillyB


Joined: 19/05/2008
Posts: 436

Message Posted:
07/08/2010 15:20

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Message 32 of 32 in Discussion

I came to the TRNC to hide from my wife who was a complete nutbar and I feared for my life!



Anlusan- NO KOCAN, NO MONEY. NO WIFE, LOTS OF MONEY.



Scrap ptp its not rocket science!



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