The Cypriot Cabinet has submitted for consideration a draft bill that would introduce changes to the distribution and management of Turkish-Cypriot property in the Republic.
This was announced by Interior Minister Constantinos Ioannou on Tuesday, March 19.
According to the Minister's written statement, the main objective is to protect the interests of refugees. The innovations are therefore based on a selection system that takes into account the socio-economic status and family composition of applicants and evaluates them using "clear, objective and measurable indicators."
The new Law is expected to impose some restrictions on the actions of the "custodian" of Turkish-Cypriot property in the south. It should be noted that the lack of restrictions in the past has led to abuse and illegal exploitation of properties.
Thus, we will ensure that the grant decision is based on the real needs and capabilities of the applicants," Ioannou said.
Similarly, in the allocation of land for agricultural use, an applicant will be considered eligible if he or she owns land or is engaged in professional activities in the occupied territories.
An upper limit on the area of land to be granted will be set to prevent private individuals from over-accumulating Turkish Cypriot property and to promote a more equitable distribution of available agricultural land.
In the case of commercial real estate, a key factor in determining eligibility for the grant will be the extent to which the applicant's income is derived from professional activities on the available real estate. The evaluation of these applicants will include the property owned, family composition, and professional status of the applicant.
Ioannou said the measures are aimed at "significantly reducing the injustice that has hitherto existed against Turkish Cypriot property owners".
Ioannou said the process to improve the management of Turkish Cypriot assets has been ongoing since August 2023, and lease contracts for 3,211 properties (two-thirds of the total number used for professional purposes) have been inspected, with 416 contracts found to be in breach of lease terms.
He added that measures had already been taken to seize such properties.