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18 | Focus on Property
The Jewel in the
Mediterranean
Crown
Northern Cyprus
seems set to be one of
the new global property
hot spots
By Jonathan Ball
C
yprus is a paradise island of
incomparable natural beauty, full
of unique historical treasures. It
lies in the clear blue waters of the
Mediterranean, 40 miles off the
coast of Turkey, 60 miles from information and consultancy on the legal frame-
Syria and 250 miles from Egypt. work, the investment climate, sector specific
After Sicily and Sardinia, it is the third largest information and incentives to help investors take
island in the Mediterranean Sea, and lies at the advantage of investment opportunities. The Cyprus is a
crossroads of Europe, the Middle East, Asia and agency carries out both local and international
Africa. It has been the centre of successive civili- promotion activities with the objective of attract-
sations and trading nations for over 2000 years. ing local and Foreign Direct Investment. YAGA is paradise island
North Cyprus provides a most hospitable wel- directly linked with and reports to the Prime
come, with its friendly people and its beautiful Minister.
natural attractions. The island is unspoilt, unpol- Perhaps the most significant reason for invest- of incomparable
luted and uncrowded with miles of coastline and ing in Northern Cyprus is the potential political
golden sands bathed in sunshine almost every changes that may arise as the question of reunifi-
day of the year. There is much of historical inter- cation rises on the political agenda. Historically, natural beauty,
est to reflect nine thousand years of history. the Greek (Southern) part of the island has
Gothic churches rub shoulders with crusader enjoyed greater prosperity than the northern sec-
castles, and ruined temples with British Colonial tion, with corresponding higher property prices. full of unique
architecture in a fascinating blend of styles. The However, as there now appears to be significant
all-pervading sense of the past adds to the progress towards the reunification of the island,
enchantment of the present to make Northern it is highly probable that this gap will diminish, historical
Cyprus an ideal property location. and property prices will approximate more to
Northern Cyprus has a specialist investment those on the Greek part of the island. It would
agency, YAGA, which provides an extensive range therefore appear that now would be an ideal time treasures
of services to investors. YAGA provides relevant to invest in this jewel of the Mediterranean.
September 2009 Investment International www.investmentinternational.com
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