The Parliament of Cyprus is considering a bill on compensation for lost property in the north of the island

Next week, the Parliament of the Republic of Cyprus will consider a bill concerning compensation for Greek Cypriots who lost ownership or use of property located in the territory under the control of the Turkish Republic of Northern Cyprus. The discussion is scheduled for Tuesday at a meeting of the Parliamentary Committee on Refugees.

According to Politis, the bill was initiated by the DISY party. The document provides for the creation of a special fund whose purpose is to compensate property owners in the north, thereby preventing mass appeals to the Turkish Property Commission (IPC). This body, operating under Turkey, has already paid about €620 million in compensation to Greek Cypriot owners who filed claims in recent years.

According to the initiators, the new fund should serve as an instrument to safeguard the property rights of Greek Cypriots and stop the process of alienation through TRNC mechanisms. DISY argues that many owners, being in difficult financial situations, are forced to apply to the IPC, which gradually leads to the de facto loss of control over property.

The proposed fund will be financed from state resources and possibly with the support of European programs. The funds are intended for compensation or temporary payments to owners until a political solution to the Cyprus problem is reached.

The initiative is expected to provoke heated debates in parliament. Some parties may support the bill as a step in protecting the interests of displaced persons, while others may point to financial risks for the budget and possible international legal complications.

Thus, the upcoming parliamentary session will become an important stage in discussing the fate of Greek Cypriot property lost as a result of the island’s division and may determine the state’s further approach to this issue.