Yitmen, I and Alibaba, H Z (2005) An investigation of self-sustaining finance systems for property development in North Cyprus. In: Khosrowshahi, F (ed.) Proceedings of 21st Annual ARCOM Conference, 7-9 September 2005, London, UK.
Abstract
Since the outcome of the Annan Plan 2001 for the resolution of the Cyprus Issue and accession of the island to the European Union in May 2004, there is a potential growth of the real estate market due to ever increasing of private housing demand. The successful development of efficient and stable mortgage finance systems is now of global importance. Thus creation of self-sustaining finance systems to meet the need for affordable finance of the people when purchasing, building or improving their dwelling units has been an important component of national and local policies for the achievement of the goal of shelter for all. The main objective of this research is to analyze the real estate development activities, the structure and performance of the private sector housing market and investigate self-sustaining finance systems for property development in North Cyprus. A questionnaire survey, which was administered to the construction organizations and real estate agencies in the industry, has been used in conducting the survey. By analyzing development potentials and prospects of the market toward the long-term sustainable development, the paper also indicates the opportunities for foreigners in the areas of real estate financial services and building technology. The research concludes with an indication of the future challenges to the housing market in North Cyprus.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | self-sustaining; mortgage financing; property development; North Cyprus |
| Index terms: | real estate development, real estate, questionnaire, investigation, resolution, property development, agency, Cyprus, financing, housing, construction organization, building technology, sustainable development, purchasing, private sector, mortgage, survey, European Union |
| Subjects: | Geography, health safety and environment, physical geography and landforms, economic development, procurement strategy, industry analysis, sociology, conflict resolution, engineering systems, organization, data collection methods, construction type, economic analysis, real estate economics |
| Topics: | Urban Studies, Stakeholder Management, Procurement, Construction Technology, Health and Safety, Business Strategy, Engineering Principles, Geographical Context, Research Practice |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here