They intimidate vulnerable property owners into selling their properties in Larnaca and even hire “thugs” to secure their consent.
“When you approach a family—an elderly person facing financial difficulties—with enough pressure, and you offer money exceeding the value of a property, and the first time you’re turned down, a second refusal, and the third time you go there with thugs and secure their consent, you realize that these things are not right in a well-governed state.”
Aristos Damianou – Chair of the Internal Affairs Committee
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
These serious allegations were raised during the meeting of the Committee on Internal Affairs and concern the unlawful practices employed by foreign companies to acquire tracts of Cypriot land.
At the same time, they are sounding the alarm about the uncontrolled purchase of real estate by foreigners. According to data, in coastal cities, seven out of ten real estate transactions involve foreign buyers.
SEE ALSO: Serious Allegations: Thugs Are Blackmailing Residents in Larnaca to Sell Their Homes
“Our primary duty is to pass on land to future generations of Cypriots so that their children can live and grow up on it. Financial interests cannot take precedence over everything else.”
Aristos Damianou – Chairman of the Committee on Internal Affairs
The introduction of stricter restrictions on real estate transactions by foreigners is now on the table.
“In our discussions with the government, we’ve raised issues regarding property size and purchasing capacity, but we’re also calling for prohibitions to be put in place.”
Aristos Damianou – Chair of the Internal Affairs Committee
The restrictions apply to beaches, ports, areas near the ceasefire line, and other locations of strategic importance, where national security concerns also arise.
Watch Katerina Ioannou’s report:
