Northern Cyprus boom tipped

Northern Cyprus is tipped to enjoy a boom as the island moves nearer to possible reunification.

Talks between the leaders of the Greek Cypriot south and Turkish Cypriot north commenced this month and according to Blue C developments, progress in this process will run in parallel with a boom in prices on the northern part of the island.

However, those who do seek to invest in any property in the north may be wise to carry out checks on its status as it has been widely reported that property rights issues will be a major matter in the talks, particularly for those who had to move from the part of the island where they were an ethnic minority.

These people may wish to claim back old property, raising possible problems should that be sold on.

However, Blue C noted that prices in the north are a third of those in the south, meaning there could be many bargains and possibly substantial growth in value subsequently.

Cyprus was divided in 1974 when Turkey invaded and occupied the north.