Northern Cyprus property market is set to expand
The property market in Cyprus is set to benefit from peace talks in the country, according to property experts.
Cyprus president Dimitris Christofias met Turkish Cypriot leader Mehmet Ali Talat, inside a UN-patrolled buffer zone near Nicosia’s disused airport which lies between the two communities to reunite the island for the first time in 34 years. President Christofias told reporters that it would end the suffering of Cypriot people and reunite the country. Mr Talat also agreed the president’s view and said that the aim of the fully-fledged negotiations is to find a mutually acceptable solution to the Cyprus problem.
A senior UN official said that the talks are “productive” and “fruitful,” adding that the two leaders agreed to resume negotiations on power-sharing. The property market in Cyprus particularly Northern Cyprus is set to benefit from peace talks in the, as tourism has already grown rapidly since word of the plans spread. Reunification talks boost the Turkish Cypriot economy, which could bring huge investment to the northern part of the island and facilitate infrastructure improvements.
In related news, Blue C Developments sees speculation over the unification results in rise in property prices.
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