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News & Articles
Beware! Illegal real estate in
North Cyprus
(Real Estate Gates)
Many people are interested in buying real estate abroad. Cyprus is one
of the most popular destinations among Europeans. The island has many
advantages about it. Besides, it’s now a part of the European Union.
However, there’s one thing to be worried about; and some of the buyers
are not aware of it.
Cyprus is still divided into Northern and Southern territories. The
Northern territory has been occupied by Turkish armed forces since
1974. The process of uniting of the two territories seems to never
end, though the negotiations on it are going on all the time. Even
today the situation does not look any better. Turkey has occupied the
EU territory while heads for membership in the European Union.
Let’s trace back to real estate! Due to the occupation of 1974, the
inhabitants of the Northern part of the island, being originally Greek
Cypriotes, had to leave their properties and move to areas controlled
by the Republic of Cyprus. After that, the occupants illegally gave
the properties to Turkish Cypriotes, as well as immigrants from Turkey
itself. The illicit regime implemented on the occupied territories
allows and promotes illegitimate buying and selling of real estate
that a priory belonged to the ‘forced’ Greek emigrants, as well as any
exploitation of land by the ‘new owners’.
The European Court on Human Rights assured that Greek Cypriots have
full rights for properties they used to own on the occupied land. They
are legal owners of the real estate.
The UN Security Council confessed in their resolutions 541 (1983) and
550 (1984) that the government of Cyprus is the sole legal power on
island’s entire territory and rejected the Turkish
‘pseudo-government’, calling it a ‘separatist formation’.
The island unification plan by Kofi Annan, UN General Secretary,
accepts the right of all the outcast homeowners for property that used
to belong to them on the presently occupied area. This gives them
rights to take decisions either on reestablishment of ownerships, or
receiving full compensations.
Therefore, real estate transactions on Turkish territory of the island
can be considered illegal and lead to serious judicial and financial
consequences for the buyer.
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By Mary Antonescu
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