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Application numbers to the IPC in sharp decline

Application numbers to the IPC in sharp decline

November 19
11:08 2014

The number of Greek Cypriots who applied to the Immovable Property Commission (IPC) in North Cyprus has dropped considerably in the last three months, ‘Havadis’ reports.

The paper writes that in October 2013, 101 applications were made to the IPC while in October 2014, only 27 applications were made.

This is the smallest number of applications since the IPC began to operate and over the last five years, Greek Cypriot interest has declined.

In 2011, 1,926 applications were made, in 2012, 1,601 applications, in 2013, 1,337 and for the first ten months of 2014, only 303 applications were made.

‘Havadis’ writes that the fall in Greek Cypriot interest in applying is demonstrated by the fact that in August the IPC made no rulings at all.

However, the paper adds that for the first ten months of 2014 the IPC paid out £37 million as compensation to Greek Cypriots who applied for it.

Over the past 8 years, the IPC has paid out £181,298,848 in compensation.

 

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