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Posted on 2010-01-11 20:03:44 Ongoing Cyprus peace talks could be a new opportunity for property investors eyeing up North Cyprus property market. Historic talks are underway in the divided island of Cyrpus in a bid to broker a peace deal later in the year. A peace deal would open doors for citizens and visitors alike, and greatly improve Turkey's chance at gaining EU membership.
Greek Cypriot president Dimitris Christofias and Turkish Cypriot leader Mehmet Ali Talat have begun a six day round of talks aiming to overcome the obstacles that stalled progress over the past 16 months.
Jaded Cypriot populations on both sides may not be expecting too much after many months of failed talks – but experts say the present meetings offer a glimmer of hope that some resolution can be reached. Cyprus' Nicosia University International Law professor Tim Potier is optimistic about a positive outcome, but warned that an agreement must be made by the end of the month. "Warm words or little more than that, by the end of the month, would suggest that the process is likely to end in failure,” he said. “The leaders of the two communities have to lead the nation, otherwise others, with alternative ambitions, will lead it for them." Tourists and regular visitors to Northern Cyprus are also holding their breaths; because the Turkish Republic is recognised only by Turkey, those flying to North Cyprus' Ercan Airport are forced to stop in Istanbul or Izmir or any other Turkish airport before continuing to Northern Cyprus. A united Cyprus could only improve Northern Cyprus' status on the tourist trail. Cyprus was split in 1974 when Turkey invaded after a coup by supporters of union with Greece. The island joined the European Union in 2004, but only Greek Cypriots enjoy the benefits. |
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