The Republic of Cyprus has increased rents for Turkish Cypriot properties

The authorities of the Republic of Cyprus have raised the monthly rent received from those who use Turkish Cypriot properties. The rental price has increased from 50–100 euros to 1200–2700 euros.

The decision on the increase was made by the country's Ministry of Internal Affairs. According to Fileleftheros, this was done in order to relieve taxpayers of the annual burden of strengthening the Turkish Cypriot Property Management Fund in the amount of 7-8 million euros. For these purposes, the rent, which was about 50-100 euros, increased to 1200-2700 euros per month.

In particular, according to the House of Representatives for Refugees, rents for commercial properties of Turkish Cypriots in Limassol have risen sharply.

In one case, the rent is reported to increase from 150 to 2,800 euros per month, and in the second 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 tenants have sent letters to Parliament requesting that the rent review process be frozen until the new calculation criteria are brought to the attention of the relevant committee by the service.

According to committee head and MP Nikos Kettiros, many complaints were received following the rent increase, mainly from the city and region 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. Rationalization is to introduce an increase, but at a reasonable level,” said Nikos Kettiros.

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