A multinational real estate company active in the south, with offices in the north, appears to be advertising property for sale in north Nicosia, Kyrenia, Famagusta, Trikomo, Lefka and Morphou that belongs to Greek Cypriots, it was reported on Tuesday.

In a written complaint to the police chief last Thursday, the Real Estate Agents Registration Council said it had received photographic evidence the company was advertising Greek Cypriot property for sale.

It added that the branch in Cyprus employed ten agents and has its head offices in Kyrenia.

The council called on the police chief to investigate the company’s activity in the north and whether it was connected in any way to the office in the south.

It also raised the question of whether the company should be allowed to maintain offices in both the south and the north.

According to Politis, the multinational company had posted on its website that there were various types of property for sale in the north due to the “division of Cyprus in 1974”.

It referred to Turkish title deeds if the property belonged to Turkish Cypriots before 1974 and “es deger”, Turkish for “of equal value”, if it belonged to Greek Cypriots prior to the invasion.

The company says that an exchange of property ensued the 1974 exchange of population and assured potential customers that investments would not be in any danger, as the company had experienced lawyers at its disposal.

The government is cracking down on usurpers of Greek Cypriot properties, including agents and buyers, which is causing concern in the north and Turkey, which in turn are handing out title deeds and making a panicked attempt to protect the construction industry that financially supports the north, Politis said.

In the meantime, the House legal committee is discussing proposed legislation to increase the penalties for usurpers from £5,000 to €10,000 and from two to five years in prison.

Chairman of the council Marinos Kyneyirou recently said that in 2022-2023 it had filed 627 criminal cases against people who had been involved in illegal real estate and that so far 40 legal entities and 90 individuals involved in 90 cases had been convicted.

Kyneyirou also said that the penalties were minimal next to the profit usurpers were making.