Cyprus Cracks Down on Illegal Property Sales in the North

Cyprus is intensifying legal actions against realtors and developers who illegally sell Greek Cypriot properties in the breakaway north, with four current cases highlighting the issue.

Property RightsCyprusIllegal Property SalesPeace TalksReal EstateReal EstateMay 16, 2025

Cyprus Cracks Down on Illegal Property Sales in the North
Real Estate:NICOSIA, Cyprus (AP) — Cyprus is not backing down from its legal efforts against realtors and developers who illegally profit from Greek Cypriot properties in the breakaway north. Four such cases are currently being adjudicated, involving a Ukrainian man, a German national, and two Israelis, including real estate developer Simon Aykut. The defendants are facing charges that include illegally advertising the sale of Greek Cypriot property, illegal possession and use of such property, and conspiracy. All four remain in custody.nnThe properties in question are located in areas along Cyprus’ northern and eastern coastlines near the towns of Kyrenia and Famagusta, in villages like Akanthou and Ayios Amvrosios (Tatlisu and Esentepe in Turkish, respectively). These areas are popular with foreign buyers due to their idyllic surroundings.nnProperty rights are a deeply contentious issue in Cyprus, which has been divided since 1974 when Turkey invaded following an Athens junta-backed coup aiming to unite the island with Greece. Approximately 160,000 Greek Cypriots fled the north, where Turkish Cypriots declared independence, a status recognized only by Turkey. Conversely, around 45,000 Turkish Cypriots moved from the south, where the internationally recognized government is seated, to the north.nnProperty disputes have been a core issue in decades of failed United Nations-mediated peace talks. The EU’s top court and the European Court of Human Rights (ECHR) have affirmed the Greek Cypriots’ rights to property ownership in the north. However, the ECHR has also supported the establishment of a Turkish Cypriot property commission, where Greek Cypriots can apply for compensation or to reclaim their property.nnA recent boom in the construction of luxury villas and apartments in the north has prompted Cypriot legal authorities to take a more assertive stance against realtors and developers. According to a lawyer familiar with the pending cases, the scale of illegal property development has grown significantly. “It’s not just a few homes being built on Greek Cypriot property; we’re now seeing entire complexes being constructed,” the lawyer told The Associated Press, speaking on condition of anonymity.nnLast week, a Cypriot court sentenced two Hungarian women to 30 months and 15 months in jail, respectively, for advertising the sale of Greek Cypriot property in the north online. The court stated, “The exploitation of property that belongs to displaced Cypriots for financial gain is, from any perspective, unacceptable and condemnable.” The court also warned that such exploitation could complicate future peace talks by complicating the property issue.nnGreek Cypriot President Nikos Christodoulides emphasized that the prosecutions send a clear message. “The right to property is an individual matter, and the owner of the property is the one who should decide what to do with it, nothing more,” he said. However, the court cases have sparked a backlash from Turkish Cypriot leaders, who view the prosecutions as a hostile attempt to undermine their economic development.nnTurkish Cypriot leader Ersin Tatar called the prosecutions a “terrorist act” against Turkish Cypriots, aiming to “weaken them legally and politically” and harm their economic prospects. He warned that the court actions “won't go unanswered.”nnThe ongoing legal battles highlight the complex and sensitive nature of property rights in the divided island, with both sides vying to protect their interests and the potential for these disputes to impact future peace negotiations.

Frequently Asked Questions

What is the main issue surrounding property rights in Cyprus?

The main issue is the illegal sale and possession of Greek Cypriot properties in the breakaway north of Cyprus, which has been a contentious point in peace talks and legal proceedings.

Who is being prosecuted in the current cases?

Four individuals, including a Ukrainian man, a German national, and two Israelis, are being prosecuted for charges such as illegally advertising the sale of Greek Cypriot property and illegal possession.

What are the potential consequences of these legal actions?

The legal actions could complicate future peace talks and have a chilling effect on foreign buyers, making them more reluctant to get involved in the property market in the north.

How has the Turkish Cypriot leadership responded to these prosecutions?

Turkish Cypriot leaders view the prosecutions as a hostile act aimed at undermining their economic development and have warned of a response.

What is the stance of the Greek Cypriot government?

The Greek Cypriot government, led by President Nikos Christodoulides, emphasizes that the prosecutions are a message to those involved in the illegal sale of Greek Cypriot properties, affirming the right to property as an individual matter.

Related News Articles

Thiruvithamcore Co-op Scam: Panel Members Booked for Duping Depositors of Crores
real estate news

Thiruvithamcore Co-op Scam: Panel Members Booked for Duping Depositors of Crores

The Thiruvithamcore Cooperative Society's administrative panel has been booked for cheating people of crores of rupees by offering high interest on deposits. The scam has left many retired government employees, who deposited their gratuity and provident f

August 25, 2024
Read Article
Multibagger Stocks of 2023 Plunge Over 25% in 2024: Should You Hold or Sell?
Real Estate Maharashtra

Multibagger Stocks of 2023 Plunge Over 25% in 2024: Should You Hold or Sell?

Many investors are looking at the multibagger stocks from 2023 that have tumbled over 25% in 2024. Should you hold onto them or cut your losses? Here’s a detailed analysis to help you decide.

October 9, 2024
Read Article
Real Estate Battle Over Hidden Listings: How It Affects Homebuyers
Real Estate

Real Estate Battle Over Hidden Listings: How It Affects Homebuyers

The real estate industry is in the midst of a contentious dispute over hidden listings, which could make it more challenging for buyers to find their dream homes.

October 31, 2024
Read Article
SEBI Considers Quick Follow-on Offer Framework for REITs and InvITs
Real Estate

SEBI Considers Quick Follow-on Offer Framework for REITs and InvITs

The Securities and Exchange Board of India (SEBI) is mulling over a framework to fast-track follow-on offers by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Additionally, the regulator has proposed a three-year lock

February 20, 2025
Read Article
Uncovering the Google Timeline Conundrum: A Health Insurance Investigation in Mumbai
Real Estate Mumbai

Uncovering the Google Timeline Conundrum: A Health Insurance Investigation in Mumbai

A Mumbai-based Chartered Accountant is left stunned by a health insurance probe that delves into the accuracy of their Google Timeline data. This article explores the implications and challenges of using such data in insurance claims.

April 10, 2025
Read Article
TARC Ltd Achieves Record Sales in the Booming Luxury Real Estate Market
real estate news

TARC Ltd Achieves Record Sales in the Booming Luxury Real Estate Market

TARC Ltd, a leading real estate developer, has announced record sales, marking a significant milestone in the luxury housing market. The company's success is attributed to its strategic projects, including the luxury residential development, TARC Ishva in Gurugram.

April 12, 2025
Read Article