Call For North Cyprus Property Purchasers To Pay Compensation

Call For North Cyprus Property Purchasers To Pay CompensationAccording to Kibris Postasi newspaper (11.11.15), Murat Metin Hakki, an advocate dealing in pre-1974 property compensation cases, believes the reason that the payments by the IPC have deliberately been slowed down by Turkey is in order for it to pass a law requiring 30%-40% of the compensations to be paid by the current user of the property.

Hakki offers no evidence for this but I guess an advocate whose income from these property compensation cases has dried up would be looking for alternative sources of money. Panicking home owners into selling property could be just what he’s looking to do.

Mind you, if you have bought land left behind by Greek Cypriots in 1974, and the compensation is fairly small then a few thousand pounds in exchange for an internationally recognised title deed might be a small price to pay.

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3 comments to Call For North Cyprus Property Purchasers To Pay Compensation

  • Polly Marples

    Shouldn’t that compensation be paid by the MONGREL that sold the property s/he did not own?

    Just asking.

    But do not get excited…Yesterday it was the Beirut formula…tomorrow…the Zimbabwe formula? Next week….the North Korea formula?

    First there needs to be a solution…

  • Jerry

    “left behind by Greek Cypriots in 1974” What a convenient choice of words.

    BTW, The Immovable Property Commission is IPC not PCC.

  • Cyprus Sue

    I don’t think the IPC has slowed down but has reached a complete standstill and some time ago apparently. Many Greek Cypriots who had arrived at a settlement still have not received their agreed compensation. It was suggested that Turkey had run out of money but who knows the real reason?

    If the situation was not so serious for the many that have suffered past and present, you would have to laugh at the madness that is Cyprus. On one side of the island we have a Government that knowingly sold properties they never legally owned but want the buyers to pay compensation and take no responsibility for their own actions in this. Yet they are the biggest profiteers from this action.

    On the other side of the island we have politicians, and developers that have taken out huge bank loans never made a payment, despite their large salaries and are now suggesting that they should be able to buy back their non-performing loans at a discount! Of course this is to help their poor citizens and has nothing to do with the fact that the rich and elite of the island are the biggest defaulters.

    What a sensible solution – admit you had the money to pay the loan all along and bring in a law that makes it profitable to default on your payments. Only in Cyprus!

    Taking responsibility for ones own actions is sadly missing within Cyprus Governments. Playing the blame game and implementing solutions that meet the needs of the ROC and TRNC Governments, rather than their citizens, is always given top priority. What a shame that most Cypriots can’t see through their Government’s shenanigans and wise up to their manipulation and diversionary tactics.

    This is not to say that those that have bought GC and TC properties should not share some of the responsibility but lets look at joint accountability rather than this constant proportioning blame when there are so many contributing factors.