Developments Investors Re-Sales Why Us Featured
TURKEY TOLD TO PAY GREEK CYPRIOT OVER LOSS OF PROPERTY

Property investment >News

The European Court of Human Rights (ECHR) has ruled that the Turkish government must pay €835,000 to the family of a Greek Cypriot for the loss of his property in Kyernia, according to an official statement on the ECHR website.
Turkey must pay the heirs of the late John Demades, who died in 2006, the amount within three months – during which time it can appeal the decision.
“By six votes to one, the Court has awarded the applicant’s heirs €785,000 for pecuniary damage, €45,000 for non-pecuniary damage and €5,000 for costs and expenses," a court spokesperson explained. "Displaced Greek Cypriots, like the applicant, cannot be deemed to have lost title to their property and the compensation to be awarded by this Court in such cases is confined to losses emanating from the denial of access and loss of control, use and enjoyment of his property. "
Talking to reporters after the decision, Achilleas Demetriades, the Demades’ family lawyer, welcomed the verdict, in particular the fact that the monies were awarded for pecuniary damages, not for the actual loss of title on the land and property. “This is significant because we can claim the properties and only get compensation for rents lost, because we believe that in light of a Cyprus problem solution we will get those properties back,” said Demetriades.

The lawyer added that a precedent had now been set and it would be understood that the ECHR would recognise Greek Cypriot ‘refugees’ as the rightful owners of their properties.
In a separate judgment, a ‘friendly’ settlement was agreed upon where another Greek Cypriot, Mike Tymvios, is believed to have accepted a deal with Turkey for the purchase of his land in the north for the sum of $1million.
 


Royal Coral bay Cyprus
Universal Realty Awards
AIPP logo

NEW Development

Acropolis Panorama

Find us with
google earth
special
View our current special offers in Cyprus
Download a brochure for any of our current off plan investment property developments. Go..
dutch french flag german greece
babelfish
italy portugal russia spain

Cyprus | Paphos | Holiday Home Cyprus | Home | Contact us | About us | Site Map | Links | Mortgage Terms | Rentals Cyprus | Special offers
Visit our newest developments in Paphos:| Phaedra Luxury Villas | Thalassa View | Chloraka Terrace | St George Hills Cyprus
Acropolis Panorama and in Florida: Cypress Preserve Resort | Inspection visit 4 STAR Resort in Cyprus just £149
For immediate occupancy and resales in Cyprus visit: Resales Cyprus. The Alpha PIC Investors Circle - Become a member.
Fractional Property Ownership - Quarter-Ship - Quarter Share. Make your dream home a reality.
© 2007 Universal Vacations Realty leaders in overseas offplan investment properties in the Paphos area of Southern Cyprus.
Are you a property agent or IFA join UNI-Quote. Contact us sales@univac.com Problems? © MMVIII Universal Ltd. Updated on February 19th 2008