2006 Predictions for Tourism and Property in North Cyprus

The year end mood in Northern Cyprus is positive and buoyant and it has nothing to do with the fact that Christmas is upon us and the New Year celebrations are likely to be excellent.

Rather the 2006 predictions for both the tourism and property sectors in the TRNC are looking good and this is creating a buzz of anticipation and excitement on the island.

The Esentepe championship golf course is on target for a timely completion in spring 2006, work is continuing on the two massive new hotel projects near Kyrenia, property buyer interest is heating up as the TRNC property market remains one of the most affordable on the Mediterranean and work is continuing on the new border crossing in Nicosia.

All in all despite some people’s best efforts (!) Northern Cyprus has a very positive outlook and more and more people are committing funds and sustained investment to the tourism and property sectors in TRNC which bodes well for 2006 and beyond.

Firstly the Esentepe golf course is attracting strong local and overseas interest with many waiting to join and more waiting to come on holiday and try out the superior course and associated facilities. Such is the intensity of interest in the golf course that several more are believed to be in the planning and development stages with overseas investment already committed to further projects plus the creation of a luxury marina and hotel resort in Esentepe.

The two hotel complexes under construction to the east and west of Girne are well under way; they are not due for completion in 2006 but they have already created employment opportunities and the job prospects for local and international workers will increase throughout 2006 as the hotels near completion with many openings being created for full time hotel and casino staff from 2007 onwards.

The UN is continuing to tear down the border crossing that joins the North to Ledra Street on the south. Whether the Greek Cypriots go back on their word to reciprocate or not remains to be seen but rest assured the UN and Turkish Cypriots will have everything in place for when the crossing does finally open. Property investor confidence on the back of this positive and decisive action has been intense.

Despite it being the traditionally quiet buyer season, property investor interest in Northern Cyprus has not tailed off. With UK house prices stagnating and people’s purchasing power restricted many of those who would previously have invested in property in Spain or Portugal are moving their focus to Northern Cyprus as it offers them an affordable Mediterranean destination. Anyone who has been to North Cyprus recently will realise that demand is continuing to outstrip supply as developers work hard to move their off plan ideas into the construction phase. Throughout 2006 this will mean established properties will gain in value which should cheer up the expat community in TRNC and please investors as well.

The TRNC tourist board have been actively promoting the delights of the island across the UK and already the numbers booked in to hotels and on flights to the TRNC in 2006 are up on the 2005 figures. As talks continue over direct flight access many people are simply taking advantage of the fact that they can fly cheaply and direct to Larnaca and drive across the border. More bars, restaurants and clubs are opening their doors this winter season than last as they position themselves for the 2006 summer season and the feeling in North Cyprus right now is one of excited and eager anticipation for the future.