Wed, 19 Mar 08
The revelation comes after Turkish daily newspaper ‘The Star’ reported that local commercial banks are now refusing to recognise title deeds issued by the northern
The newspaper wrote that banks are not allowing any loans for mortgages on Turkish Cypriot title deeds the paper also claimed that most of the construction work on new properties had ground to a halt.
Construction sites in
Meanwhile, a group of British ex-pats called the AGA Buyers Action Group have started a high profile campaign to protest at what they describe as the "rip off" and crimes against British citizens trying to purchase property in northern
Foreign investment slowing
Referring to several recent property scams in the occupied areas, AGA commented: What none
of us can understand is why a small group of greed-obsessed individuals are allowed to get away with causing so much pain to so many people?
Somebody in power in
It’s known that the number of foreigners investing in land and property in northern
The Star concluded its report by noting that people have lost their trust in local contractors and that cases of fraud against foreign buyers is on the rise.
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