Breakthrough for Northern Cyprus property owners

Yesterday the BBC reported on the Sussex couple, who have won their high court battle to keep their villa situation in Kyrenia in North Cyprus.

Spending their life-savings, Linda and David Orams built their villa four years ago on a plot of land in Turkish-controlled Northern Cyprus. They were taken to court by a Meletios Apostolides, a Greek Cypriot, who claimed it belonged to his family in the 1970’s prior to the Turkish invasion and their subsequent removal from the land. The Orams bought the land from the registered owner in accordance with the laws and land registry system of the Turkish Republic of Northern Cyprus (TRNC) - which was declared after Turkish troops invaded the area in 1974.

After two years of hard struggle, the couple are happy with the result and although Mr Apostolides has the right to appeal, Mr & Mrs Orams are confident they will win the appeal. Following a four-day hearing at the High Court in London in July, Mr Justice Jack commented that a previous ruling in the District Court of Nicosia, ordering the couple, from East Sussex, to demolish their holiday villa was not enforceable in the UK.

Many original landowners in North Cyrpus have followed Mr Apostolides by taking their case to court in the Republic of Cyprus, which is separate from the Turkish Republic of Northern Cyprus, where many of the holiday homes are located. Judgements in the Republic of Cyprus and not valid in the Turkish Republic of Northern Cyprus (TRNC)

The man claimed that because the Republic of Cyprus is a member of the EU the Nicosia judgement should be enforced in the UK courts. However it was ruled that under Protocol 10 to the Treaty of Accession of Cyprus to the EU this was not possible.

So what does this mean to buyers wanting to invest in Northern Cyprus?
Ms Booth their counsel told the hearing in July that their case was of fundamental importance to anyone who owns property in Northern Cyprus. The judgment allows others in the same position to invest in TRNC without the threat of enforcement of judgments rendered in the Republic of Cyprus in the EU.

This ruling is however only a small step on the road to absolute safe property investment. Buyers looking to invest in TRNC should still be vigilant and make sure they seek the right independent legal advice.

The OPP ran a story this week regarding FOPDAC and that they may start to accept members who sell in TRNC and who can prove the pre-1974 title deeds of what they are selling.

The signs for a safer and more stable property market in North Cyprus are starting to appear and although it may be some time before the mass market looks to buy there, it is all part of the development of an emerging property market.