Real Estate Investment Series: Focus on Northern Cyprus 2007

Cyprus is divided into the northern third of the island and the southern two thirds; this report deals specifically with Northern Cyprus as it has a very different real estate economy to Southern Cyprus.m

A number of exciting and unprecedented developments took place in 2006 to increase the attractiveness of the property market in North Cyprus and, going into 2007, the effects of several of these factors will come into play and will mean that North Cyprus property it is one of the most investment commodities in Europe for an exciting investor looking for strong capital appreciation and long-term investment potential.

There is an ongoing dispute between North and South Cyprus over land and property on both sides of the border and events unfolded in 2006 suggesting that in the future the former Greek Cypriot owners of abandoned land and immovable property in the North may request compensation. for loss of use of Turkish government property. This will make Southern Cypriots happy and remove a cloud that has hung over the property market in Northern Cyprus for many years. Investors and those buying retirement or holiday homes no longer have to worry about having to provide compensation money to the former owners of their small plot of land in Cyprus.

Also, Northern Cyprus has an airport which is not allowed to be used for direct flights: Turkey made a great offer to open its ports and airports to Greek Cypriot traffic in exchange for the Northern Cyprus airport being open to direct flights and many in Europe are behind this offer. In 2007 Britain is expected to be the first country to start direct flights and this will see the fledgling tourism industry boom in the North.

Northern Cyprus is a stunningly beautiful and diverse nation and, ahead of any decision to allow direct flights and create a tourism industry that will contribute enormously to the economy, public and private money and military assistance are being invested in improving the attractiveness of the north. Everything from road construction and infrastructure improvement is underway, beaches are being cleaned up and the environment is being protected so that when tourists arrive they want to come back and some even want to stay and buy vacation villas or retirement properties. .

Currently, properties in Northern Cyprus cost at least a third of the price of properties in Southern Cyprus or Spain, and yet the Northern part of Cyprus is much more beautiful and much less developed. For a property investor Northern Cyprus in 2007 has to be the place to aim and there are so many angles of approach they can take. They can make a land bank, they can invest in emerging tourism projects such as hotel projects, they can commission builders to build multiple properties which they then sell outright, they can buy apartments to rent to the huge international student population in Northern Cyprus, They can buy holiday villas to rent, they can renovate traditional village properties for rent or resale or they can even buy suitable commercial or residential shares to rent or lease based on local demand or they can buy off plan and sell to other investors or property buyers. properties.

In conclusion, in terms of attractiveness and potential, you will not find a more attractive market in 2007 than the property market in Northern Cyprus.