Cypriot Unification And Cyprus Real Estate Market
- Jan 14, 2017
- 1 min read
The Cyprus dispute or Cyprus issue is the ongoing issue of military invasion and continuing Turkish occupation (since 1974) of the northern third of the island, a situation described and deplored in multiple UN reports and resolutions.Recent years have seen warming of relations between Greek and Turkish Cypriots, with officially renewed reunification talks beginning in early 2014.
It would be foolish to suggest that these reconciliation talks will be successful in the short term but there does seem to be an appetite for an agreement from all parties. The confusion this could cause within the Cypriot property market as a whole might see pressure on prices and some investors sitting on the sidelines. However, could it be this short-term pain could very quickly turn into long-term gain in a more stable and reunified Cyprus?
Any agreement would need to recognize the position of prevailing forces in the north and south of Cyprus and create a structure allowing parties to work together for the good of Cyprus. There is therefore potential for a significant boost to the Cypriot economy, property market and interest from overseas property investors. This is an ambitious move by the relevant parties and while there will be many hurdles and problems ahead perhaps we are standing on the verge of a new chapter in the history of Cyprus and the Cyprus Property Market?
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