After the Negativity surrounding the much publicised Orams case, Northern Cyprus finally received some good news on the property front which has put to bed the possibility of any similar cases in the future. On Friday March 5^th the ECHR ruled that the IPC (Immovable Property Commission), set up by Turkey in 2005, is “an appropriate domestic body, with access to the relevant information, (and) was clearly the more appropriate forum for deciding on complex matters of property ownership and valuation and assessing financial compensation”.

In short this means that any former Greek Cypriot owner of land/property in Northern Cyprus MUST apply to the IPC for any compensation or restitution of property. The Court also stressed that there was not an obligation to use the IPC and that claimants could, if they wished, wait for a political solution instead. One thing for sure is that this latest decision from the ECHR has leveled the playing field at the Negotiating table and the possibility of a settlement has surely increased.

So what does this mean to any prospective purchaser of property in Northern Cyprus? Well it certainly means that you can now purchase North Cyprus Property without the fear of other EU assets being under threat. It also means that the guarantee of Title deeds by Turkey grows that much stronger as under the IPC all compensation is by Turkey and not the individual home owner.

So can we expect a new Boom in Northern Cyprus Property for 2010? Well the signs are very good as people start to learn of the ruling and the safeguards that it now offers for people looking to invest in Northern Cyprus. Enquiries have stepped up a gear as people look to capitalise on the low prices before the effects of the decision, coupled with the now real prospect of a settlement, push prices upwards.

Whatever the short term effects are of this judgment, the significance of it should not be underestimated… this is a massive decision for the TRNC and a very positive result.