Cyprus: Rents for Turkish Cypriot properties hiked by up to 2700 euros

Cyprus: Rents for Turkish Cypriot properties hiked by up to 2700 euros

The government of the Republic of Cyprus has increased the monthly rent paid by those who use Turkish Cypriot properties. The cost of rent has increased from 50-100 euros to 1200-2700 euros.

The decision to increase the rent was made by the country’s Ministry of Interior. According to the publication Fileleftheros, this was done to relieve taxpayers from the annual burden of strengthening the Turkish Cypriot Property Management Fund by 7-8 million euros. For this purpose, the rent, which was about 50-100 euros, was increased to 1200-2700 euros per month.

In particular, according to the Refugee Chamber of the House of Representatives, there has been a sharp increase in the rent for Turkish Cypriot commercial properties in Limassol.

In one case, the rent is reported to have increased from 150 to 2800 euros per month, and in another from 30 to 999 euros per month.

The increase was initiated by the Turkish Cypriot Property Management Service under the Ministry of Interior.

It is also reported that the tenants sent letters to the parliament, in which they asked to freeze the process of revising the rent until the new calculation criteria are communicated by the service to the relevant committee.

According to the head of the committee and member of parliament Nikos Kettirоs, after the increase in rent, many complaints were received, mainly from the city and district of Limassol.

“We have never supported and will not support the rent that was introduced in the past, in the amount of 20-50 euros per month. The rationale is to introduce an increase, but at a reasonable level,” Nikos Kettirоs said.

He added that until the Turkish Cypriot Property Management Service presents the new criteria, the increase in rental prices will be frozen.


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