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North Cyprus - Up Date on Present Events

We are writing to bring you up-to-date on present events.

You may be aware that as of the 2nd January 2008, all Estate Agents wishing to trade in North Cyprus had to be  registered.  Donaghy and Beyler became fully registered members back in November 2007. This effectively now means that we are one step ahead of the UK as Estate Agents there do not need to be registered in order to trade.

This alone has proved to be a great step forward for our industry enabling foreign buyers wishing to find their dream home in North Cyprus to buy with confidence.

Further changes in the TRNC property law has again provided protection for buyers; for example; once contracts have been signed it is the duty of the Estate Agent to then lodge the contract at the District Lands Office to be stamped within 21 days of signing. This protects the new owners from any charge/encumbrance being put on the land/property. In effect the property/land is the property of the contract holder and will remain mortgage/charge free.

In addition to further safeguard purchasers, it is now a requirement that a land search be done before contracts are signed to check that the land/property is in fact free of any encumbrance.

The most important current situation is that the Greek Cypriot and Turkish Cypriot Presidents are in discussion with regards to a settlement on the Island once and for all. This in it's own right would clearly provoke an upward surge for both the construction industry and indeed the property market in general.

We are all hopeful for a final solution which would then mean the isolation of the Turkish Cypriot people being lifted and then who knows.................direct flights, embargoes being lifted etc.

Of course there is much open for discussion, but it does appear that the two parties are intent on a solution, motivated by the fact that Turkey is keen to achieve EU acceptance which in part will be dictated by a resolution within Cyprus as a whole.

The positive possibilities are endless and with the property market in Northern Cyprus becoming busier, now is the right time to look at investments, land or holiday homes.

The cost of buying a property in North Cyprus compared to the UK and Europe in general is still exceptionally competitive. There are many examples of all types of land and property which can be viewed on our web-site http://www.donaghyandbeyler.com/

Donaghy and Beyler continue to be proud of the frank and honest advice that is given and will continue with providing a first class service and after sales service to all of our customers. We would like to hear from you with any questions/concerns or views about the purchase procedure in North Cyprus.

Lastly, we are currently compiling a list of well known developers who will offer special incentives for any purchase here and will be writing to you again shortly with what will be some excellent opportunities.

Thank you for taking the time to read this letter, we hope to be able to meet with you or provide you with the Donaghy and Beyler service soon.

Regards,