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Foreigners Continue to Purchase Property in North

Foreigners Continue to Purchase Property in North

December 04
11:30 2018

North Cyprus News - House - for saleFollowing a decision the council of ministers, 1,759 foreigners have become property owners within ten months under the law regulating the acquisition of real estate and long-term rentals (by foreigners).

A report by Turkish Cypriot daily ‘Yeni Duzen’ states that in the same time period, the amendments, which had been requested for the permits of 157 foreigners, who had the necessary permits for the purchase of immovable property, were approved by the council of ministers.

The paper has focused on the decisions regarding the immovable property permits from February to November 26 this year.

Meanwhile, the owner of the H&B Property Estate and board member of the real estate agents union, Huseyin Sadeghi said that recently, there has been a tendency for purchasing property by Scandinavian nationals. He added that the Iranian market continues to flourish, but activity in the British market is “little, if any”.

Yeni Duzen