Famagusta, December 1, 2024 – Turkey is facing economic consequences due to a rise in arrests of property usurpers by Republic of Cyprus authorities. In response, Turkey is intensifying its efforts to generate revenue for the illegal entity in the occupied territories, increasingly pressuring Greek Cypriots to sell their properties.
According to a report by Costas Venizelos, Turkish business magnates are acquiring Greek Cypriot properties from foreign nationals who hold title. Simultaneously, developers are directly approaching Greek Cypriot owners, often employing coercive tactics to push them into selling their land. The so-called “compensation committee” is also reportedly being used as a tool of persuasion.
Disturbingly, some Greek Cypriots residing in government-controlled areas are allegedly acting as intermediaries, facilitating sales between Greek Cypriot owners and Turkish buyers. Venizelos’s report characterizes this activity as a contribution to the “Turkification” of the island.
The construction industry in the occupied territories has been significantly impacted by the arrests of property usurpers. Turkey is seeking to revive this sector, which relies heavily on the illegal sale of Greek Cypriot land for the construction of apartments and hotels. Venizelos highlights the calculated nature of Turkey’s actions, emphasizing Ankara’s determination to reignite construction at any cost. These tactics reportedly include pressuring foreign nationals to relinquish properties and crafting enticing offers to lure Greek Cypriot owners into selling.