Alpha News

Interior Ministry Revises Contracts for Turkish Cypriot Properties with Extremely Low Rents

Published February 17, 2026, 12:28

The Ministry of Interior has launched an investigation into rental contracts for Turkish Cypriot properties following reports of unjustifiably low rents. Interior Minister Konstantinos Ioannou acknowledged mismanagement and decades-long issues, stating that 4032 commercial contracts have been reviewed since August 2023, with 522 found to be in violation. Checks were also carried out on 864 contracts with local authorities, municipalities and communities, where 78 violations were identified. Legal action is being taken for half of these, while revenue has already been recovered in some cases. Specific reference was made to the Municipality of Paphos, which was checked a year and a half ago. The review extends to approximately 5,000 contracts for houses, with the aim of streamlining pricing policy. It is noted that the law provides for rents 60-80% higher than those currently paid in many cases. Properties have been identified where the rent is only €60, while the land registry valuation is €8,000. The Ministry of Interior is increasing rents, taking into account the specific characteristics of each tenant and their financial situation, with the aim of streamlining the management of Turkish Cypriot properties and ensuring more revenue for the public treasury.