Although the Turkish Lira is the official currency in the North, Euros and UK pounds are widely accepted in the bigger cities. Credit cards are also accepted in larger shops and supermarkets.
North Cyprus property is low cost in comparison to property in the south of Cyprus. However, potential buyers should be wary of title disputes, as title insurance is not generally available. Accordingly, it is very important to understand the various types of title deeds available in North Cyprus. See North Cyprus Title Deeds.
Also be sure and check thoroughly that the property (whether a house or land) intended for purchase in North Cyprus, was not originally (and still legally is according to international law) owned by a Greek Cypriot (prior to the war in 1974 and abandoned as a result).
There is a huge risk, if the property is indeed legally owned by a Greek Cypriot, that the buyers could face legal action in the Republic of Cyprus and elsewhere in the EU, including the United Kingdom, from where most foreign buyers come from. The buyer could likely be ordered by the (Greek) Cypriot, British or other EU member courts to pay legal fees to their legal Greek Cypriot owner. At worst, if the Cyprus dispute is solved, the property can either be returned or compensated to the original Greek Cypriot owner (that is taken away from the third party without any compensation whatsover).
The Most Frequently Asked Travel Questions about Northern Cyprus
Where To Stay & Best Hotels in Northern Cyprus - updated Apr 2024
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Northern Cyprus Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.
