In Northern Cyprus, the number of applications made by Greek Cypriot property owners to the Immovable Property Commission (IPC) has significantly increased, reaching 8,755. This development indicates that the compensation claims of Greek owners who were deprived of their properties after 1974 continue. According to recently published data, there were 40 new applications just last month.
The Commission has concluded 3,592 applications to date within 2026. This figure was reported as 3,288 a month ago, indicating that investigations have accelerated. Established with the contribution of Turkey, the IPC commenced operations in 2005 in line with the rulings of the European Court of Human Rights (ECHR). The ECHR recognized this commission as an effective domestic remedy for property disputes.
So far, the total compensation amount paid to Greek property owners through the IPC has reached £662.9 million, which is approximately €775.9 million. The increase in applications occurs at a time when the Greek administration is refocusing on seeking state support to address the financial losses of property owners remaining in the north.
On the other hand, it is reported that the government is working on a new financial support program through the Equal Burden Distribution Agency. This program is expected to utilize the 0.4% property tax revenue, which generates around €20 million annually. However, the Ministry of Finance has stated to members of parliament that property owners applying to the IPC will not benefit from this financial support plan.
Additionally, the uncertainty regarding how much the existing financial resources can compensate for the damages incurred due to property loss continues. This situation increases the concerns of Greek property owners and prompts them to await a resolution.
Source: www.diyaloggazetesi.com
