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Category : Europe

Date : 16 July 2008

Stay_away_from_northern_Cyprus,_investors_told

Those buying international property should keep away from the north of Cyprus, it has been advised.

Managing director of investor portal Cyprus Property Dream Andrew Creswell said the country offers good prospects for investors, with many expat buyers from the UK including a number of families.

The country is easy to move to as a European Union member and the best place to invest is Larnaca because of its facilities, he added.

However, the north should be avoided due to uncertainty over political developments concerning the possible reunification of the island, which has been unofficially divided between the Turkish north and Greek south since 1974, Mr Creswell warned.

He said: "One should not buy in the north, especially now as there may be a settlement this year and property and land would be reclaimed by rightful owners."

This week it was reported by the International Herald Tribune that the leaders of the two parts of the country could be about to set up a direct telephone link to keep in contact at all times.


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