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North Cyprus Investment Property Market Receives Massive Boost
from: by www.Amberlamb.comThe recent announcement that the most significant border crossing in
Cyprus is being cleared on the Turkish Cypriot side of the Green Line by the UN
has translated into a massive boost for the Northern Cyprus investment property
market according to www.Amberlamb.com property
investment specialists.
Nicosia, Cyprus (PRWEB) December 5, 2005
– As the barriers between North and South Nicosia in Cyprus are removed so the
way is paved for property investors in Northern Cyprus to profit.
In November the Turkish Cypriot authorities asked the UN to begin removing
barriers in North Nicosia to join the North up with the shopping and pedestrian
area on Ledra Street in the Republic of Cyprus. The move was seen as the first
significant and positive step towards renewed talks for a solution to the Cyprus
problem and has resulted in a renewed surge of property investor confidence in
North Cyprus.
The 47 year old Lokmaci barrier in the Arasta pedestrian area in Northern
Cyprus is being removed following requests to the UN by the Turkish Cypriots and
with finance from Ankara and will result in North Nicosia joining up with Ledra
Street in the south if and when the Greek Cypriot authorities begin work on
their side of the border. Pedestrians and residents will be able to access the
heart of the ancient city and enjoy the historic sites, amenities and retail
facilities on both sides of Nicosia.
The Greek Cypriot mayor of Nicosia Michalakis Zampelas has already agreed to
consider reciprocating the work on his side of the crossing and diplomats in
Cyprus have stated that the move is “a welcome sign of hope.”
The response from the international property investment community was a
resounding surge in interest in new developments in North Cyprus.
Investors are currently showing particular interest east of the harbour town
of Kyrenia is the Esentepe region where work is coming to completion on an 18
hole championship golf course and where planning permission has recently been
granted for the development of a 400 berth marina and 5 start hotel resort.
An Amberlamb spokesperson advised that “traditionally at this time of the
year property investor activity is limited” but revealed that when news started
to spread globally about the potential for opening the Ledra Street border
crossing and people realised the political significance of the move, investor
activity in Northern Cyprus spiked.
Property investors are keenly aware that real estate in Northern Cyprus is
among the most affordable currently in the Mediterranean region and that prices
are increasing rapidly. With this most recent and positive of announcements
investors realise that 2006 could be the highest returning year for investment
in TRNC to date and cannot wait to enter the market until after the
traditionally slow Christmas and New Year periods.
Off plan real estate developments favoured by property investors in Northern
Cyprus currently are those offering maximum rental yield from the growing
tourism market in TRNC and which are located close to the beach and which
feature communal onsite facilities such as swimming pools, tennis courts, bars
and restaurants.
These types of off plan property development in TRNC are also enjoying strong
capital appreciation throughout the build period and sustainable annual gains
following completion.
For property investment guides and information about both Northern Cyprus and
the Republic of Cyprus visit http://www.Amberlamb.com
About AmberLamb:
www.Amberlamb.com are online
publishers of impartial and independent overseas investment property news,
information and guides.
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