Daily Mail article 'Ahead in the Med'

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
15/11/2008 19:45

I'm surprised that no one has commented on the Dail mail article, Friday 14th November, page 90 Overseas Property. An article on Cyprus by Liz Rowlinson. Whilst mainly about South Cyprus, she gushingly mentions the Buy Sell Cyprus Real Estate Index 'seen as the most reliable gauge of what's happening because it covers 90% of resale properties in the country - prices have increased 9% this year (www.buysellcyprus.com ) This is a commercial website with obvious self interest and covers most countries.

With regards the North 'The greater affordability and unspoilt beauty of the landscape - the north is much less developed and more mountainous- must be balanced against the fact you can't get mortgages or direct flights.'

She describes the ways to get there. ' The effort is worth it. When you go north over the border through the capital Nicosia, it feels as if you are stepping back 20 years. International buyers are dominated by Scandinavians, Russians and 4,000 British. (cont...)

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
15/11/2008 19:55

(cont..) She talks about income from rentals in north comparing poorly with the south... according to http://www.holidaylettings.co.uk 'Non Cypriots can buy only one property each and have to seek permission from the Government, which is a formality. The conveyancing process is based on the British model, but purchase costs are high, varying between 5 and 11 per cent in the south and 9 per cent in the north.'

Earlier in her article she quotes 'Prices in the north could double if the two parts unite and the north's suspension from EU membership is lifted,' says Jamie Lester, of North Cyprus International (northcyprusinternational.com ). 'But buying here is not without its risks, so it's paramount to use an independent lawyer.'

'The major risks relates to property witha title dating from after 1974, when internationally recognised titles ceased to be issued. Pre-1974 title deeda are '100% safe.', but those dated after (so called Turkish title deeds) are not and should be properly investigate

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
15/11/2008 19:57

Thoughts? I wonder whether she has ever visited the country and where she has got her information from.

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
15/11/2008 20:03

A good PR exercise, especially from North Cyprus International who are trying hard to sell properties.



"Prices in the North could double"



Yeah right.

Tatlisu4me


Joined: 26/01/2008
Posts: 436

Message Posted:
15/11/2008 20:04

I think its Estate agent talk mostly.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
15/11/2008 20:07

I can't find the article on the Daily Mail website http://www.dailymail.co.uk/home/index.html



I feel a letter of complaint to the Daily Mail coming on. The usual rubbish trotted out in the article '..the conveyancing process based on the british model.' (PTP) from the government is a formality.' Where did she get the number (4000) for British buyers?