articles | 30 January 2017

Applications to IPC fell 73% in 2016

Applications made to the immovable property commission by the Greek Cypriots fell 73% in 2016 compared to the figures of 2015, the press reports.

According to the article, between 2006 and 2016, only 15% of the 6,314 applications had been resolved and the Turkish Cypriot authorities paid compensation totalling £228,993,734 million sterling to the lawful owners of the properties.

In 2016, the IPC closed 92 cases and ordereda total of £13,368,446 million sterling in compensation. Only 49 new applications were made last year. In 2015 the number was 182.  Also last year, 24 application made previously were withdrawn.

In 10 years, the IPC ordered compensation be paid for a total of 18.5 million square metres of formerly owned Greek Cypriot property and reinstated a total of 451,000 square metres to their legal owners.

The IPC was set up in 2006 as a local remedy following the ‘Xenides-Arestis v. Turkey’ verdict of the European Court of Human Rights (ECHR), which was flooded by Greek Cypriot applications against Turkey, requesting their properties back, or compensation.

Source: Cyprus Mail

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