This verdict has cleared the uncertainty in the market which lingered for over a year by stating that judgments rendered in the Turkish Republic of Northern Cyprus against property buyers in the TRNC can not be enforced in the EU.
Linda & David Orams, the British couple seeking to keep their dream holiday villa in Northern Cyprus, have won their High Court battle, as a favorable verdict has finally arrived!
Mr. Justice Jack of the British High Court in London has ruled in favor of the Orams. The ruling stated that a judgment obtained against the couple in North Cyprus Nicosia was not enforceable in the English courts. Furthermore, Mr. Apostolides, the Greek Cypriot who brought the case against the Orams, has been ordered to pay 75% of the Orams' costs amounting to £863,000, according to an article on BBC news.
As this ruling has put an end to hesitations of many, property investors and holiday makers alike will now progress with their property dealings in the TRNC, and the previously static market prices are expected, in turn, begin to climb.
READ MORE IN THE BBC NEWS ARTICLE
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