Cypriot unification and the Cyprus property market

[Nicholas Wallwork]

Many people have been caught offguard by the announcement that Greece and Turkey are in talks about the reunification of Cyprus. This is a subject that has been ongoing since 1974 when the island was

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[realdeals]

While there may be some long-term bargains, there will be some significant short-term hurdles to overcome. I have looked at Cyprus but do not feel confident investing at the moment. Any other views out there?

 

[Veronica]

Why Greece should be involved is beyond me. They caused the problem in the first place by invading the island so Turkey then sent in troops to protect Turkish Cypriots. Greece has a lot to answer for although subsequently Turkey has been to blame for annexing a third of the island and flooding it with illegal Turkish immigrants against international law.
The problem will never be sorted as long as Greece keeps interfering. I was in Cyprus at the time of the conflict and have subsequently been back here for the past 12 years and cannot understand why the Cypriots love Greece so much when they are the architect of the troubles. They fly the Greek flag on their homes, rarely is the Cyprus flag flown.

 

[Longterminvestor]

Might be an interesting time to bank a profit if the property market moves higher in anticipation of an agreement? If you are right, and no agreement is forthcoming, surely we would be back to square one?

 

[Veronica]

There are still a lot of obstacles in the way which make an agreement difficult. Turkey want Turks to have the same freedoms as Greeks have for living and working in Cyprus and they without this there will be no agreement. However Greece is a member of the EU which is why they have these freedoms while Turkey is not.

 

[nmb]

While the newspapers seem to be suggesting a deal can be done, this does not appear to be the case on the ground?

 

[Veronica]

This is typical of Turkey and does not broker well for unification.
http://cyprus-mail.com/2017/01/30/hardline-parties-join-chorus-imia-provocation/

 

[realdeals]

Why would they do that if they are really looking for unification talks?

 

[Veronica]

Unfortunately Erdogan is a power hungry despot. He would much prefer the whole of Cyprus to be part of Turkey. There are going to be changes in the Turkish politics coming into being shortly which transfer all the power to the presidency from parliament. This means that he will be all powerful in Turkey and he will also be able to be in power until the late 20s. this is a bit scary to be honest as I really don't think he can be trusted at all.

 

[nmb]

So, it does look as though hopes to reunite the Island may be a little optimistic to say the least!