djtrax98 wrote:OK AGREED the issue of property sale in the north is wrong and i readily admit that it is immoral, but leaving sentiments aside what factors actually contribute in peoples decisions to choose northern cyprus over souther cyprus to invest their money?
Bear in mind not only Brits buy houses over there, many other nationalities too, (Norwegians, Danish etc etc..)
Perhaps someone who has bought property over there would like to answer?
And guys we are all talking-Lets find out what drives people to buy land in the north, PLEASE DONT ATTACK ANYONE.
djtrax98,
I tried to reply to yor question yesterday but there were server problems.
Anyway, you are right, it's not just Brits who are buying in the north although they are the majority. Many London Cypriots are also buying too, as well as other Europeans.
What attracts people to buy here? Well, depends. Some are investing most of their life savings because they want to retire here. They love the genuine warmth of the people, the scenery, the food, the fact that there is an established expat community here (about 3,000 strong). Of course the low price is a factor but to this group of people it is more the quality of life that they value. Many people are attracted to the old world manners and neighbourliness of the people and to the relative lack of commercialism that cannot be found in other parts of the Med. Most of these people are in their 50's, 60's and 70's. Many of them know the south pretty well and many of them have served in the UK forces during national service and during the EOKA days. They mostly consider the south less friendly, more expensive and less beautiful.
The other group of people investing here are the speculators who see the potential for capital growth and rental income from property investment.
What do people feel about the land ownership issues?
Well, most people reason that they are buying land that was given to a TC refugee as compensation for the equivalent of lost land in the south. Around the Kyrenia area where most people buy is where most of this 'exchange' land is.
Most people cannot see a political solution happening that will involve a mass population return to 1960/63/74 boundaries. The status quo will remain to a major extent.
Also the government here is taking taxes and issuing deeds to foreigners, therefore it is widely believed that they will pick up the tab on any compensation due.
Regarding the propspect of court action: not many people take this seriously as it is clearly a political rather than legal problem.
People do not feel that they are behaving immorally because they know that TCs have lost their lands for good and that regardless of a few foreigners buying (I think that less than 0.1% of the island's land has been sold to foreigners) there would be stalemate here.
Looking forward to all the constructive comments