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Northern Cyprus – No longer a taboo subject

1st February 2007 Print
The Old Harbour Kyrenia Cyprus is one of Britain’s most beloved isles, after its own of course. In a similar fashion to Malta and Gibraltar, little pieces of Britain such as red post boxes dot the Cypriot streetscape and English is widely spoken. Unsurprisingly the British visit in their droves, over two million people last year, and the Island consistently appears in ABTA’s ‘Britain’s favourite destinations’ top ten.

However, the ‘Cyprus’ being referred to is generally southern Cyprus, the one with the resorts of Limassol, Paphos, and the 18-30 favourite - Ayia Napa. Rarely is the top third of the Island, the self-styled Turkish Republic of Northern Cyprus (TRNC), included in these references. Whilst Brits have been holidaying and holiday-home hunting for a decade in the southern two-thirds, the Turkish portion can still be associated with words such as pristine, undiscovered and best of all – cheap.

Current property prices within the TRNC are 30 – 40% cheaper than their southern Cypriot counterparts and consequently significantly cheaper than the old established destinations of southern Spain and the Algarve. A three bedroom villa in a prime position can still be picked up for as little as 100,000 GBP in the TRNC.

June Matthews, Director of Investors Discover a company promoting Lara Beach Villas near Kyrenia in the TRNC comments, “Although entry prices for property in the TRNC are currently very low, this will not last. Many landmark decisions will have to be made about the whole island of Cyprus over the coming years as Turkey’s accession to the EU is hotly debated and other member states decide if they are prepared to recognise Turkey’s claim to the territory. Not many people are aware that the whole of the island of Cyprus is already a member of the EU since 2004, although the Acquis Communitaire (body of EU Law) applies only to the Republic of Cyprus beneath the Green Line which runs through Nicosia. In 2004 Turkish Cypriots backed a UN-led plan to reunify the island but the Greek Cypriots rejected it. Since that date relations have thawed and there is a real desire to resolve the Cyprus ‘issue’. When that happens, Northern Cyprus will inevitably catch up with Southern Cyprus in terms of tourism and subsequent higher property prices. The EU is already investing in infrastructure upgrades in the TRNC to attract more tourists and the wheels are in motion to lift the embargo on direct flights into the TRNC from EU member states.”

Indeed economic development in the TRNC to bring it in line with the more affluent Republic of Cyprus, is staked highly on tourism. The rugged, beautiful coastlines and abundance of flora and fauna from wild orchids to nesting turtles, not to mention endless summer skies, is more than enough to attract even the most discerning of customer. The Government is pulling out all the stops and providing incentives for those who wish to invest in the tourism sector, but at the same time protecting the environment by declining planning permission for anything over two storeys or within 100 metres of the beach.

The key for the TRNC’s continued success will be the lifting of worldwide diplomatic sanctions and trade and travel embargoes. The brand new airport at Ercan which opened in May 2004 is ready and equipped for international business as soon as the embargo is lifted. Currently flights from EU member states, including London, Berlin and Paris, are prohibited and a stop off in Turkey is required for air-entry into the TRNC. However, it’s widely recognised that the EU cannot invest in infrastructure in order to improve tourism with one hand, whilst making air-access more expensive and time-consuming with the other. Once Ercan is open (‘when’ and not ‘if’), tourist numbers are expected to increase from their current base of 433,000 to two million per year over the next five years. More holiday homes will inevitably need to be constructed to cope with demand.

What’s on the Market?
Lara Beach Villas is a self-contained development of 39 traditional style three bedroom villas in a perfect location; just ten minutes from the bars, restaurants and shops of the harbour town of Kyrenia, close to the brand new Esentepe Golf Course, the first 18-hole championship course for the TRNC and on the doorstep of Lara Beach and the protected Alagadi turtle beaches. A 500-berth marina and yacht club is also planned with a full range of facilities, also within ten minutes of Lara Beach Villas. Each property is generously proportioned at 121m² with plot sizes ranging from 390m² to 720m². The good news for property investors is that the vast majority of the villas have a price tag of under £100,000 GBP (£99,750 to be precise) with the most expensive reaching £125,000 GBP to account for the 720m² plot. Construction is to stringent European standards, with full structural five year guarantees and all villas boast private swimming pools. The properties hold TRNC guaranteed “Esdeger” freehold title deeds.

For further information, visit

More Photos - Click to Enlarge

The Old Harbour Kyrenia Lara Beach Villas Rear Lara Beach Villas Front Local Alagadi Beach