The Republic of (south) Cyprus is currently in the midst of election fever with voting obligatory and the candidate considered most likely to walk away with victory having been knocked out of the running in a shock defeat at the polls yesterday. For all those with property in Northern Cyprus we bring you this important update.
President Papadopoulos, the current president of Cyprus, has been knocked out of the presidential running whilst his two strongest opponents, both in favour of restarting talks about a solution to the division of Cyprus, will go on to the final stage of the battle on the 24th of February. This all has a significant effect on those with property assets in North Cyprus and the Republic of Cyprus.
The Republic of (south) Cyprus is currently in the midst of election fever with voting obligatory and the candidate considered most likely to walk away with victory having been knocked out of the running in a shock defeat at the polls yesterday. For all those with property in Northern Cyprus we bring you this important update.
President Papadopoulos, the current president of Cyprus, has been knocked out of the presidential running whilst his two strongest opponents, both in favour of restarting talks about a solution to the division of Cyprus, will go on to the final stage of the battle on the 24th of February. This all has a significant effect on those with property assets in North Cyprus and the Republic of Cyprus.
North Cyprus is one of the most exciting markets in Europe for predicted property price growth in the medium term, and because politically speaking things started moving incredibly quickly at the end of 2006, 2007 could be one of the last years for investors to bank land and properties at seriously below market prices.
Naturally discussing the political situation in Northern Cyprus one has to be incredibly sensitive – but at the same time to avoid highlighting the very real fact that North Cyprus property will continue to be a great investment in 2007 would be wrong…so we hope we achieve a balance in this report on the 2007 prospects for the real estate market in Northern Cyprus.
In a legal case that has dominated the British, Greek, Turkish and Cypriot headlines over the past two years relating to the validity or otherwise of a claim against Linda and David Orams - the new expatriate owners of former Greek property in North Cyprus - British Prime Minister’s wife Cherie Blair has won a landmark victory for the British owners and paved the way for an avalanche of property investor activity in the as yet largely undeveloped and explored Northern third of the island of Cyprus.
When one thinks of property investment in Northern Cyprus the market is dominated by apartments in Kyrenia or villas in the likes of Esentepe with its championship golf course and Tatlisu or Bogaz with their incredibly affordable property bargains – all of which are located in North East Cyprus and all of which offer good but less than amazing returns on investment. But suddenly certain dramatic but relatively secret changes and developments are afoot and there has been a property boost for North West Cyprus – could this part of the island become the hottest property investment location in 2007?
To gauge which of the world’s emerging property markets are currently most hotly in demand we like to examine which Amberlamb pages are currently appealing most to our site’s readers. Of interest to us was a significant increase in the number of visitors seeking the facts about buying property in North Cyprus and so we approached local sources in the real estate industry in TRNC and they confirmed an intensification of interest in property for sale in Northern Cyprus in recent weeks.
Unless you live in the TRNC or subscribe to the local newspapers you’re unlikely to hear about some of the most exciting developments and positive news about the property sector in North Cyprus because the media are loath to report anything particularly positive from the Northern third of the beautiful Mediterranean island.
The ultimate return on investment (ROI) for a property investor is strong capital appreciation together with excellent and sustainable rental yields - and property investors committing to the real estate market in Northern Cyprus currently are finding that they can achieve this perfect balance of ROI.
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