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Old 02-09-2006, 01:12 PM
lukas lukas is offline
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Join Date: Aug 2006
Posts: 29
Default Cyprus Economy is booming

Hi Logan,
No-one should be looking to invest in Northern Cyprus until the land issue has been sorted out. At the Property Investor Show there were several stands selling properties in the North and there were queues of amateur investors lining up to snap them up.
I questioned one of the sales staff on one of these stands asking what guarantees they were offering if the land was Greek Cypriot owned and his response was 'it'll be ok, all you'll have to do is give the landowner 500 euros as compensation'.
There is also a major court case taking place where a British buyer bought a villa on Greek Cypriot owned land in the North and was forced to pay huge compensation to the landowner as well as pay to demolish the villa.
Keep in touch
Lukas
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