Window of Opportunity to Buy Property in Northern Cyprus

Summary: Property in North Cyprus will be boosted in price and popularity by election of new president in South Cyprus

Dominating the headlines in international newspapers and online today is the news that the leader of the Akel Party in the Republic of Cyprus has won the election and will become the next president of the Greek Cypriots.  Almost Demetris Christofias’s first job as the new president will be to enter into talks and negotiations with Mehmet Ali Talat, his counterpart in Northern Cyprus, to find a way forward for the resolution of ‘The Cyprus Problem’ which has divided the island for 34 years.

This means that there is a window of opportunity to buy property in Northern Cyprus at the incredibly artificially deflated prices they are currently for sale at, and that there is a tangible deadline for the cessation of this offer once talks between the two sides begin and move forward towards resolution in the next few weeks and months.

President in waiting Demetris Christofias will assume his official duties from Thursday February the 28th and it is widely accepted that he will extend an arm of negotiation to Northern Cyprus within weeks of his appointment.  Following his win last night it is understood that Mehmet Ali Talat called to congratulate the leader of the Communist Party and to agree to begin talks shortly.

Speaking in the run up to the final election round which was held yesterday, Demetris Christofias stated clearly that he would be the ideal candidate for election in part because of his ‘good relations’ with the Turkish Cypriot community and he also stated that he would seek some form of re-unity for the state, the people, the institutions and the economy. 

Seeking to reunite the economies of Cyprus is another significant point for property investors – the economy in Northern Cyprus has been restricted because of the Republic’s isolation, the fact it cannot trade and has no direct flights.  This has always had a knock on effect for the property market and means you can buy property in North Cyprus for a fraction of the price of property in Southern Cyprus.

In seeking to unify the economies of Cyprus this insinuates that the economy in the North will be given every opportunity to equalise with that on the south – this will of course mean real estate in Northern Cyprus will begin increasing in value.

There is so much to be done to a) reach a resolution and then b) raise the standards of living and infrastructure in the North so that properties are indeed actually worth the same as those in the south – but if you’re looking for a medium hold property purchase for the sole intention of achieving a massive potential gain, look closely at this window of property based opportunity in North Cyprus and do so now before you miss the boat.

Going back to the elections finally, it is seen as highly significant that immediately following him casting his own vote yesterday, Demetris Christofias reiterated his stand by stating: “I want to send a message of friendship to ordinary Turkish Cypriots, a message of a common fight to reunite our homeland.”

SHARE: del.icio.us   Digg   Facebook   Google   Mixx   NewsVine   StumbleUpon   Technorati   YahooMyWeb