North Cyprus Reunification and Property Market Race on Apace
The second meeting in the revived reunification talks between the Turkish Republic of Northern Cyprus (TRNC) and the Greece-backed Republic of Cyprus took place on the 11th of this month and property developer Blue C believe that the property market of the TRNC, where prices are between half and a third as expensive as those in the south, is primed to boom in parallel with the move towards reunification.
London, United Kingdom, September 11, 2008 --(PR.com)-- The second meeting in the revived reunification talks between the Turkish Republic of Northern Cyprus (TRNC) and the Greece-backed Republic of Cyprus took place on the 11th of this month. This current round of talks offer the best chance of melding an agreement since the split of 1974, and property developer Blue C believe that the property market of the TRNC, where prices are between half and a third as expensive as those in the south, is primed to boom in parallel with the move towards reunification.
The optimistic mood that now characterizes attitudes toward the Cyprus problem first manifested itself in February of this year, when the five year incumbent Greek Cypriot President Tassos Papadopoulos, who was staunchly against reunification, lost his presidency to Dimitris Christofias.
Christofias is, like his Turkish counterpart Mehmet Ali Talat, a left-winger who has made public his desire to reunify the island.
After years of entrenched pessimism the personal and professional relationship between the two counterparts has centered diplomatic efforts at a focus unthinkable even a year ago. After the historic first diplomatic meeting on the third of September this year the pair have agreed to meet one another each week, and now have, for the first time in history, a direct telephone line running between their offices.
Another aspect contributing to the emergent climate of reunification is the fact that Turkey are now looking for EU membership, which Cyprus already has. Cyprus has let Ankara know that they expect Turkey to play an affirmative role in this current round of talks, and to back themselves up they have reminded Ankara that they already have the right to veto new members.
Blue C’s Whiterocks apartments in Bafra, North Cyprus, are the first off-plan luxury apartments to be built in North Cyprus, and the optimism in the reunification talks has led to a forecast capital appreciation during the construction phase of 7.5% per annum. In addition to an appreciation in value that is currently unmatchable in Europe, where property markets are, largely speaking, stagnating, if reunification happens within the year, as Mehmet Ali Talat believes it will, then property will not just appreciate value against its resale cost, but also against the potential rental that a bolstered tourist trade would bring.
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The optimistic mood that now characterizes attitudes toward the Cyprus problem first manifested itself in February of this year, when the five year incumbent Greek Cypriot President Tassos Papadopoulos, who was staunchly against reunification, lost his presidency to Dimitris Christofias.
Christofias is, like his Turkish counterpart Mehmet Ali Talat, a left-winger who has made public his desire to reunify the island.
After years of entrenched pessimism the personal and professional relationship between the two counterparts has centered diplomatic efforts at a focus unthinkable even a year ago. After the historic first diplomatic meeting on the third of September this year the pair have agreed to meet one another each week, and now have, for the first time in history, a direct telephone line running between their offices.
Another aspect contributing to the emergent climate of reunification is the fact that Turkey are now looking for EU membership, which Cyprus already has. Cyprus has let Ankara know that they expect Turkey to play an affirmative role in this current round of talks, and to back themselves up they have reminded Ankara that they already have the right to veto new members.
Blue C’s Whiterocks apartments in Bafra, North Cyprus, are the first off-plan luxury apartments to be built in North Cyprus, and the optimism in the reunification talks has led to a forecast capital appreciation during the construction phase of 7.5% per annum. In addition to an appreciation in value that is currently unmatchable in Europe, where property markets are, largely speaking, stagnating, if reunification happens within the year, as Mehmet Ali Talat believes it will, then property will not just appreciate value against its resale cost, but also against the potential rental that a bolstered tourist trade would bring.
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Contact
Blue C Developments
Steve Carle
0800 328 0126
www.whiterocksbafra.com/
Steve Carle
0800 328 0126
www.whiterocksbafra.com/
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