The North Cyprus Property Boom - the Definition of Real Estate Investing
For the first time since the partition, the reunification of Cyprus is a real possibility. In fact, Turkish Cypriot president Mehmet Ali Talat is supposed to have told his counterpart in the Republic of Cyprus, Dimitris Christofias, that their partnership would either bring with it reunification or totally cement partition. His ally is supposed to have responded by telling him that he was fully aware of that fact, and it was the only reason he had run for election.
So for the first time Cyprus has two leaders that are fully committed to reunification of the island. That would end the isolation of the Turkish Cypriot community, not only from its fellow islanders, but from Europe, and signify the return of some 250,000 people to the warmth of the European glow, with diplomatic and economic aid and trade then reaching the whole of the island.
But the island is benefiting domestically too. The Republic of Cyprus has seen its involved with the E.U bring economic growth of 4% annually, and its tourist industry has grown too.
The same can be said of North Cyprus, which has see a boom in tourism as a result of the 2004 Annan Plan referendum; at the urging of Mehmet Ali Talat - who was prime minister at the time - voters in Turkish Cyprus defied then president Rauf Denktash and voted ‘yes’ to reunification.
Since then, the E.U has lifted many of its restrictions on the TRNC of North Cyprus, which it had previously refused to recognize as a legitimate state. And that bought with it a more favourable opinion of the North of the island with European and worldwide holiday goers, causing booms in tourism that help the North rival the south for economic growth.
The economic growth and boom in tourism has led to what commentators are calling the North Cyprus Property Boom; with prices still a third of what they are in the south, but expected to grow rapidly after reunification, experts are calling the North Cyprus Property Boom the hottest emerging area for property in Europe, and possibly the world.
The North Cyprus Property Boom represents for the TRNC of North Cyprus the pinnacle of its reversal of fortunes since it was set up in the early 1980s. Indeed, since North Cyprus was invaded by Turkey in 1974 as a counter attack to a potential Greek coup, it has suffered the economic and cultural isolation of Europe’s community, and has relied almost entirely on Turkey for support.
Now, though, it is blossoming, and the fertile land is reaping rewards and benefits for its owners.
What the North Cyprus Property Boom shows is that North Cyprus can triumphant through adversity, and despite that the fate that has previously befallen it. Once free, and reunited with the rest of the island, it can only grow and flourish. The North Cyprus Property Boom will be at the head of that.
With Mehmet Ali Talat and Dimitris Christofias now meeting weekly to resolve the Cyprus problem, let’s hope there isn’t long to wait.

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