Anyone considering buying a property in Northern Cyprus should exercise caution and conduct thorough research into the ownership of the land it is built on, advises the National Association of Estate Agents (NAEA).

Those contemplating the purchase of property originally belonging to Greek Cypriots, which is situated in the area of Cyprus now under Turkish occupation, could be violating the Greek owners’ legal rights which might lead to serious legal and financial consequences.

The advice comes from Pauline Gallagher, NAEA speaker and director of independent UK property company Halcyon Properties who said: "Having worked in Cyprus for more than 12 years, I have become increasingly concerned at the number of UK companies now wanting to sell property in the Turkish occupied zone."

"Most of the developed land is still owned by Greek Cypriots, according to the courts, and this means Greek people still have the legal right to it and are entitled to take legal measures should anyone take advantage of their property"

Several cases on this issue have already been filed before the courts, both in the Republic of Cyprus and in the European Court of Human Rights, and more are in the pipeline according to Pauline.

"So far, one case has been adjudicated with the European Court of Human Rights finding in favour of the Greek Cypriot owner. On a second case filed, the court after due examination decided in its admissibility," Pauline says. "One British couple who bought property in occupied Cyprus were recently ordered by the Nicosia Court to pay compensation, demolish their home and return it to its rightful owner. This is a situation which should never have arisen."

Ian Tonge, Chairman of the NAEA International Committee advises those looking to purchase property overseas to seek the protection of dealing with an agent who is a member of the NAEA and who is bound to work to the International Code of Practice launched earlier in 2005.

Pauline Gallagher was speaking alongside the Consul General of the Cyprus High Commission, Nikos Christodoulides at the NAEA International Conference in Mayfair on 17^th November 2005, where experts discussed the market conditions and legal, taxation and finance issues in Spain, Florida, Turkey and Eastern Europe, as well as Cyprus.