Landmark Ruling for Property Investors in North 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.

The British High Court not only overturned the outlandish claims by the formed Greek Cypriot owner of the disputed property in North Cyprus Meletios Apostolides, it forced Apostolides to pay the absolute maximum in court costs as well as damages to Mr. and Mrs. Orams in a bid to warn others against making the same mistake and wasting valuable British Court time.

Linda and David Orams, for whom Cherie Blair was the legal representative and adviser in the claim, bought their North Cyprus property legitimately from the Turkish Cypriot owner who had been given the home after being forced to flee his land and home in South Cyprus following the Greek backed coup and Turkish invasion that resulted in a short war in Cyprus in 1974.

Despite the fact that the Apostolides family were re-housed and suitably compensated for the home they fled in the North they wanted that property back as soon as it was sold on to a British expatriate couple.  Apostolides took Mr. and Mrs. Orams to court in South Cyprus but the court’s rulings were not admissible in North Cyprus and so Apostolides took the couple to British court to try and claim against their main British residence as well.

In a move that deeply angered the Greek Cypriot controlled Republic of Cyprus Cherie Blair took on the Orams’ case last year and on Wednesday she finally secured victory for the couple that sees both their home in England and their property in Northern Cyprus safe from Apostolides.  Following the High Court’s ruling the Orams expressed their delight as well as their determination to fight any appeal launched by Apostolides.  In a bid to prevent an appeal the High Court judge made a ruling forcing the Apostolides camp to pay the maximum in court fees possible and to make an immediate initial payment with a further stage payment due inside a month.

The entire property market in North Cyprus, whilst remaining incredibly successful as a result of its desirability and affordability, was suffering from the legal case that was hanging over the Orams.  In a bid to instil more public confidence in the legitimacy and security of all title deeds in the North the Turkish Republic of Northern Cyprus recently amended all title deeds so that they all have full governmental and state backing but this ruling by the High Court in London was what the market needed to get it back on track.

The most positive estimates for property price growth that will result from a massive increase in investor confidence and activity are 140% growth in 2 months from some analysts with more conservative analysts saying the ruling paves the way for 100% increases over the next 12 months.  Property in North Cyprus has suddenly shot into the headlines for all the right reasons it seems, and although the ruling was only made yesterday internet based activity for search terms relating to investing in TRNC property have dramatically increased and all the signs are positively indicating a record period of intense growth for North Cyprus’s property market.  To find out more independent information about what’s available try the British North Cyprus Property Locator Service from http://www.AboutNorthCyprus.com

Special Reports: Property News for North Cyprus

Northern Cyprus Property Buying Guide
Investors interested in property in Northern Cyprus should make themselves aware of the entire property buying process before committing themselves

Northern Cyprus a Property Investor’s Guide
A guide to investment into internationally recognised property in the real estate market in Northern Cyprus

Northern Cyprus Property Investment Potential
Of all the Mediterranean destinations Northern Cyprus has the most potential for substantial gains and income for property investors