by Anglo » Tue Nov 22, 2005 8:55 pm
The trouble is that there is a reality in the north - an independent, albeit unrecognised state, that exists, survives, and that will get stronger. People there are living their lives irrespective of the political games played in the corridors of power. The vast majority of investors or expats have purchased property in the last two years. Before that there was no interest in buying in North Cyprus. The imminent solution and accession to the EU that everyone expected made the property market boom, just as it did in all the new EU states admitted recently.
Nobody investing thinks that they are committing an 'immoral crime' - it has been 32 years since partition. If it was yesterday that the original owners of property had left then people may have had a different perspective - take Kosovo for example. The fact is that most investors have looked at the probability of a settlement where there is massive land redistribution as unlikely, given the realities on the ground, and they believe that in the event of a settlement compensation will be paid - either by themselves or by the authorities. If you are an astute investor prepared to take a calculated risk then North Cyprus look like a very good bet.