North Cyprus Property | The Russians Are Coming!

North Cyprus Property | The Russians Are Coming!

Two north Cyprus newspapers commented on the possibility that Russians currently living in the south are considering moving north and buying property here. Sener Levant, editor of the Afrika newspaper (12/4/2013), quoted as his source Russian journalists who conducted a survey of Turkish Cypriots asking them what they thought of this possible influx of Russians into the north. One response, the newspaper says, was “let them come, we will milk them better.” [Translation]

Resat Akar, of Kibris newspaper (12/4/2013), complains that unless Turkish Cypriots prepare themselves better this time, unlike in 2004, then any growth in the property industry could end up with a repeat of the chaos that reigned in the industry at that time. Akar accuses the government of allowing anyone to set up a building company, no matter how unskilled they were. He argues that a properly controlled building industry could actually help the TRNC to be taken seriously and even aid its recognition.

Akar writes that all governments’ inability to control the industry led to:

‘… a significant part of those who paid their money and purchased residence was not able to either get a title deed or be rescued from the construction problems… Even though big swindles such as the Garry Robb, Kulaksiz and Tutuska cases have been experienced, no proper questioning was conducted. While those who were powerful won, the undefended people were left out in the open. That is, it is an unjust system?’ [Translation]

The newspaper points out that no one was punished for these scandals and that to repeat such a system would be to throw away an opportunity that may not come again for many years.

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