Hi All, I'd like to know what people think to investing in property in Northern Cyrpus (good and bad). A few members of my family have recently purchased property there (in the Kyrenia area). From what I gather there is massive construction work going on at the moment, with lots of property being thrown up and placed on the market. Has the right time to buy there passed? Or is there still great potential? I'm also aware of the legality issue (ie Greek land in Turkish territory) but don't think this is quite as serious (short-term) as has been made out (although there could be serious long-term implications). What do you think will be the impact of a UK hpc on foreign markets. Do you think all UK-supported property markets are likely to collapse in Europe? Or just a few danger markets that have left themselves exposed. Is the best reason for buying in north Cyprus just to have a holiday/retirement home, rather than buying as an investment. Any thoughts would be appreciated (btw, I don't intend to buy).

I'd also like to add that I'm aware of the complicated political situation in Cyprus. I'm coming at this from wondering about the economic/housing market impact and the value (or not) of buying in north Cyprus. Many UK buyers are not aware of the delicacies of the political situation. Whether there is a political resolution (including issues of land) may be answered in the future. Perhaps the housing market will have taken a different course by the time it gets to that point. Is it possible to first address my questions on an economic/housing market standpoint, and then a political view (if so wished).

There's also the moral point of view - many people are buying property that was built of Greek Cypriot land, the owners of which have been forbidden to return to by the apartheid pseudo-state.
Until the Cyprus problem is resolved and the occupied North is either recognised as a legal state or re-unifies with the legitimate, European member Republic to the South, I would advise extreme caution. Better still, invest elsewhere and sleep at night.

Check these threads for more info:
http://www.housepricecrash.co.uk/forum/ind...showtopic=49541

http://www.housepricecrash.co.uk/forum/ind...showtopic=47026


That's not to say that the Greeks are all angels:
http://www.lyingbuilder.com/