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Cyprus Problem Solution Expectation Pushing Up Land Prices

Cyprus Problem Solution Expectation Pushing Up Land PricesAccording to a report in Detay newspaper (03.02.16) the expectation of a solution to the Cyprus Problem is pushing up property prices in the north. The price of plots of land in Kyrenia have increased to 200-250 thousand pounds sterling per donum and plots on the main road have reached millions of pounds. Before you get too excited, these prices only apply to land with Title Deeds issued prior to the 1974 Turkish intervention.

Well, at least that is according to Hasan Sungur, chairman of the Turkish Cypriot Real Estate Agents’ Union (KTEB). He insists that the TRNC must support the title deeds it has issued and argues that uncertainty exists and Turkish Cypriots are not fully informed about what is happening during negotiations as far as property is concerned. Sungur said that the names of the Greek Cypriot members of the Property Committee are known but not the names of the Turkish Cypriot members.

Sungur said that even he was panicked when he heard some statements made by the chairman of the Republican Turkish Party (CTP), former President Mehmet Ali Talat, who had allegedly said that “if you are an investor and you possess many Greek Cypriot properties, a part of these properties will be taken away from you”. However, Sungur explained that at a meeting with the Turkish Cypriot negotiator, Ozdil Nami, they discovered that the above statement was not reflecting the truth.

If there really were going to be a settlement then these issues would be important but, having been here many times before, in my opinion there will not be a settlement and nothing will change.

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3 comments to Cyprus Problem Solution Expectation Pushing Up Land Prices

  • Cyprus Sue

    Rubbish – if anything the uncertainty of what might happen with GC property is having a negative effect on the market.

  • Cyprus Sue

    Hasan Sungur…………….says it all.

  • Polly Marples

    Yes Hasan Sungur the man with a thousand faces and all the files from the old Property Complaints Office…downgraded to the Property Advice Office, downgraded to poooof gone in PUFF OF SMOKE.

    Trust him ….never.