Most of the people, who are inquisitive about the north Cyprus property deed, need to understand that these property deeds are perfectly safe to invest into. However it is very important for the owner that he has the right kind of north Cyprus property title deed in order to make a profitable investment
The property which comes attached with a deed in north Cyprus is popularly known as Kocan. Kocan is the name given to the property owned by an individual who is not an Cypriot and has the possession of that property before 1974.
However, properties like these are very few and scattered all over the north Cyprus. Yet they are immensely preferred by foreign investors. The prime reason for this is that sale and purchase of such properties do not require the final approval from the Ministers Council. Hence, the process of purchasing these properties is extremely fast and almost free from all the legal hassles.
Thus, it can be easily determined that such kind of properties are extremely short in supply while they are continually in demand by the potential investors and willing buyers who are willing to pay for these houses, instantly at the spot provided they get the right deals.
One of the main reasons why these properties are extremely less in number is the fact that there are a very few people left in North Cyprus now, who are in possession of beautiful houses since 1974 or before and also, they are not Greek Cypriots. The latter condition is much hard to fulfil as the majority of people residing in North Cyprus before 1974 were Greek Cypriots. It was only after they were forcefully driven out of their homelands by the Turkish army, that other cultures came into existence which today form an integral part of the Cyprus republic now.
The property which falls under the category of deeds can easily be transferred to the name of the new purchaser once the deal has been finalised. However these deals still require a final approval from the Ministers Council. The process of obtaining the consent also varies in each case. It could take up a period of six months to several years, in order to obtain the consent. Nevertheless, the owners are allowed to have occupation of the concerned property while the consent is still awaited.
If an individual, mainly a foreign investor is able to purchase such a property, it can be said that the buyer has struck gold in the deal. However it must be noted that such homes, which fall under the category of property deeds are extremely few and far between.
And even the ones which are there are not up for sale as these houses are extremely dear to their original owners. These owners tend to value these houses more in terms of sentimental value rather than their financial value in the property market. Also, these properties particularly fall under the B-grade areas which are not exactly preferred by the foreign investors.
