The island of Cyprus, which is a holiday paradise, also offers great opportunities for real estate investments. For this reason, buying a house in Cyprus has been seen as one of the best investments in recent years.
However, the most important thing that those who will buy a house in Cyprus should know is that the title deed regulations are different in Cyprus. Officially, Cyprus has a special situation. The island is divided between Greeks and Turks. Three types of title deeds can be found in front of those who want to buy a house in the TRNC, that is, in the Turkish side. The reason for this is that the Greeks and Turks left their property there when they left the regions where they used to live. In other words, a Turk who migrated from the Greek part to the Turkish part received a housing equivalent in the Turkish part for his residence in the Greek part.
However, there are also residences allocated to the Turks who migrated from Turkey to the TRNC. These complex property situations are regulated by law. For this reason, there are 3 types of title deeds in the TRNC: Turkish cob, Equivalent voucher and Allocation cod. It is a very important issue for people who will buy a house to pay attention to the type of title deed. If you have plans to buy a house in Cyprus, our article titled Can Turks Buy a House in Cyprus will also give you different information.
What are the Important Differences Between the Title Deed Types in the TRNC?
The most valuable title deed of the real estate sector in the TRNC is the Turkish title deed. This title deed refers to the title deed of all real estates owned before 1974, regardless of identity. The equivalent title deed is the title deed to the Turks who migrated from the Greek part of the state in return for their properties there. The allocation stub is the real estate title given to those who go to the island from Turkey and settle on the island with the approval of the TR.
Houses with allocation vouchers may be cheaper than others. Because most of the time, the title deed guarantee is risky. There is no such risk for houses with Turkish titles. As a valid and safe type of title deed in every respect, we can say that the title deed that can be preferred when buying a house is a Turkish title deed.
It is very important to scan the title deed when buying a house from the TRNC. The title deed of the house must be reliable. In general, Turkish decoys and equivalent earphones are seen as reliable. The most reliable housing options are the housing options in new housing projects. The title deeds of the newly built houses that are not included in this mess are reliable. You can get support from Döveç experts about TRNC real estate regulations, and you can evaluate reliable housing options suitable for your budget with the help of a reliable company.