Cyprus Takes Legal Action Against Realtors Selling Greek Cypriot Properties in the North

Cyprus is intensifying its legal efforts against real estate agents and developers who sell or advertise Greek Cypriot properties in the breakaway north. Four cases are currently being adjudicated, with defendants facing charges including illegal possession and conspiracy.

CyprusReal EstateProperty RightsGreek CypriotTurkish CypriotReal EstateMay 16, 2025

Cyprus Takes Legal Action Against Realtors Selling Greek Cypriot Properties in the North

Real Estate:NICOSIA, Cyprus (AP) — Cyprus is not backing down from its legal battles against realtors and developers who profit from Greek Cypriot properties in the breakaway north of the ethnically divided island nation. Four such cases are currently under adjudication, with defendants including a Ukrainian man, a German national, and two Israelis, one of whom is real estate developer Simon Aykut. The charges range from illegally advertising the sale of Greek Cypriot property to illegal possession and use, and conspiracy. All four defendants are currently in custody. The properties in question are located in popular areas along Cyprus’ northern and eastern coastlines, near the towns of Kyrenia and Famagusta, and in villages such as Akanthou and Ayios Amvrosios (Tatlisu and Esentepe in Turkish, respectively). These areas are favored by foreign buyers due to their idyllic surroundings. Property rights have been a deeply contentious issue in Cyprus since the island was split in 1974 following Turkey's invasion in the wake of an Athens junta-backed coup. The coup aimed to unite the island with Greece, leading to the displacement of around 160,000 Greek Cypriots from the north, where Turkish Cypriots declared independence, a status recognized only by Turkey. Conversely, about 45,000 Turkish Cypriots living in the south, where the internationally recognized government is seated, moved to the north. Property has been a core issue in decades of failed, United Nations-mediated peace talks. The European Union'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. A 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 with knowledge of the pending cases, who spoke on condition of anonymity, the legal action has had a noticeable impact. “It’s not just a few homes being built on Greek Cypriot property; we’re now seeing entire complexes being constructed,” the lawyer said. “The ongoing legal action has clearly had an effect on foreigners who are now more reluctant to get involved.” Last 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 harm future peace talks by complicating the property issue. Greek Cypriot President Nikos Christodoulides emphasized that the prosecutions send a clear message that selling Greek Cypriot properties in the north is an illegal act. “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 them as a hostile attempt to undermine their community’s economic development. Turkish Cypriot leader Ersin Tatar called the prosecutions a “terrorist act” against Turkish Cypriots, accusing them of defying international law and aiming to “weaken them legally and politically” while harming their economic prospects. Tatar also warned that the court actions “won't go unanswered.”

Frequently Asked Questions

What is the main issue in Cyprus regarding property rights? A: The main issue is the sale and possession of Greek Cypriot properties in the breakaway north by realtors and developers, which is considered illegal by the internationally recognized government in the south. Q: Who is being tried in the current legal cases? A: Four individuals, including a Ukrainian man, a German national, and two Israelis, one of whom is real estate developer Simon Aykut, are being tried on charges related to the illegal sale and possession of Greek Cypriot properties. Q: What are the sentences for those found guilty of these charges? A: Two Hungarian women were recently sentenced to 30 months and 15 months in jail for advertising the sale of Greek Cypriot property in the north online. Q: How has the recent construction boom affected the legal stance of Cypriot authorities? A: The recent construction boom of luxury villas and apartments in the north has prompted Cypriot legal authorities to take a more assertive stance against realtors and developers, leading to increased legal action. Q: What is the response from Turkish Cypriot leaders to these legal actions? A: Turkish Cypriot leaders view these legal actions as a hostile attempt to undermine their community’s economic development and have labeled them as a 'terrorist act' against Turkish Cypriots.

Answer not available

Tags:

Related News Articles

Real Estate Maharashtra

Slum Rehabilitation Scheme: Not a Real Estate Development Project, Says Supreme Court

The Supreme Court has ruled that a slum rehabilitation scheme cannot be viewed as a real estate development project, as it involves a public purpose connected to the right to life of citizens living in pathetic conditions.

August 1, 2024

Read Article

Real Estate

Century Real Estate Aims for Rs 2100 Crore Sales in FY25

Century Real Estate has achieved 121% growth in residential sales bookings and plans to launch new projects worth Rs 7200 crore.

May 26, 2024

Read Article

Real Estate Mumbai

645 Real Estate Firms Saved from Insolvency: IBBI Chief

Large-scale real estate cases, such as Jaypee Infratech and SARE Gurugram, have yielded recoveries of over 60% of admitted claims.

August 13, 2024

Read Article

real estate news

Supreme Court Orders CBI Investigation into Unholy Builder-Banker Nexus in NCR Housing Projects

The Supreme Court has ordered the Central Bureau of Investigation (CBI) to probe the alleged unholy nexus between builders and bankers in the National Capital Region (NCR) housing projects. This move comes amid rising concerns over real estate corruption and financial irregularities.

April 29, 2025

Read Article

real estate news

Mumbai's Real Estate Surge: Luxury Apartments Lead the Post-COVID Market

Mumbai's real estate market is witnessing a significant shift, with luxury apartments dominating the post-COVID boom. While the premium segment is thriving, affordable housing continues to play a crucial role in the city's housing landscape.

March 11, 2025

Read Article

Real Estate Maharashtra

Maharashtra Assembly Polls: BJP Launches Campaign with New Slogan 'Ek Hain Toh Safe'

The BJP has intensified its campaign in Maharashtra with a new slogan 'Ek Hain Toh Safe', prominently featured in advertisements across major newspapers. This move aims to highlight the party's commitment to safety and security in the state.

November 11, 2024

Read Article