North buys Greek Cypriot property worth €240m

The occupation regime’s ‘Immovable Property Commission’ has spent €240 million on purchasing Greek Cypriot land in the occupied areas since being established nine years ago.

The occupation regime has indicated it believes the commission is the most effective means of solving the complicated property issue within an eventual solution to the Cyprus Problem.

According to reports in the Turkish Cypriot press, the commission paid Greek Cypriots €57m in 2014, in line with the €59m it paid out last year.

The €240m is connected to 619 applications filed by Greek Cypriots with property in the occupied areas.
According to Phileleftheros, €2.8m was paid out in 2006, €4m in 2007, €2m in 2008, €39m in 2009, €16m in 2010, €16.5, in 2011 and €43m in 2012.

Over the nine years, 6,076 applications were submitted the bulk—4,864 —between 2011 and 2013, something the Turkish Cypriot press linked to the financial crisis.

In 2006 some 100 applications were submitted, rising to 197 in 2007, falling to 76 in 2008, falling again to 70 in 2009. They rose significantly to 397 in 2010 and then jumped to 1,926 applications in 2011 before beginning to fall again, to 1,601 in 2012 and 1,337 in 2013. The number of applications fell significantly again this year, down to 372.

Only 12% of all the applications have been examined so far, of which 134 were rejected.

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