Quote:
Originally Posted by drew
I holiday there every year and I can assure you people have heard and are buying/ building in DROVES. It's a great country, the lifestyle is more relaxed than mainland Turkey (yes, it is possible!) and people are buying for exactly the same reasons as Turkey (entry for Turkey to the EU will likely quadruple house prices).
Just wondering... no-one else looking at North Cyprus?!
Thanks
Drew
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Firstly it should be understood that the North and South of Cyprus will never again be administered by the GC's. These two states are here to stay and the problem is that the GC's cant come to terms with this fact. There is a lot of misinformation on these threads which I will clear up. Firstly the english couple ( named Orams) won the case in the English courts brought against them by the former owner of the land upon which their house is built. GC's can no longer go to the European court with these cases for one simple reason. The EU inconjunction with Turkey and the TC's have set up a property compensation board whose offices are in the old city of Nicosia. To date more than 200 GC's have accepted full present day valuation compensation for their land in the North. The Turkish Government is underwriting these compensation payments for the simple reason that they have realized that to not do so will prevent their progress towards full EU membership. Further the Turkish Government has already informed all TRNC property owners ( build on GC land) that the individual owners holding Titles issued by the TRNC, will not be asked for payment of any kind. There is a good basis for this decision because the Turkish Government issued these TRNC titles in the first place and so it is they that the GC's must settle this property propblem with. GC's are given three choices by the property compensation board foir their proprerty. 1) Full present day valuation compensation. 2) Alternative land of equal quality and value still owned by the TRNc government. 3) Their house/land returned if there is no TRNc title on it and it is unoccupied. The fact is the steady stream of GC's accepting compensation from the Property compensation board will become a flood. Its hardly surprising since the GC Government, and Papadopoulis in particular, have consistent lied to the GC people about the eventual GC return to their lands in the North. Dream on fellows!!!
THe TRNC market will explode because properties there are cheap the onlyt question is when.