Parliament on Thursday wrapped up its review of new regulations governing the assignment and use of Turkish Cypriot properties in the south, promising a fairer and more equitable system for Greek Cypriot beneficiaries.

Currently, property belonging to Turkish Cypriots located in the south is under the ‘care’ of the Custodian of Turkish Cypriot Properties – effectively the interior ministry.

They have been placed under the government’s ‘custody’ until a political settlement of the island’s division.

The new regulations should go to the plenum for a vote on July 10, said Akel MP Nikos Kettiros.

Otherwise, the matter would get shelved and not revisited until September, due to the summer recess.

The regulations aim to make the assignment of Turkish Cypriot properties ‘transparent and unimpeachable’ according to objective and measurable criteria.

A major change relates to the rent charged to Greek Cypriots for using these properties.

“Today”, said Kettiros, “the rent is at 80 per cent of the market rate, the text [of the regulations] spoke of 75 per cent, and we’ve now settled on 60 per cent.”

In addition, the duration of leases will be capped at seven years. Where users have met all their lease obligations, they will be eligible to renew for another seven.

At present, the duration of leases varies considerably, with many complaining of double standards.

Also, available commercial premises, residential units and agricultural holdings will be published every three months, along with the rents in each case.

And in cases where a Greek Cypriot displaced person has invested in premises for occupational purposes – hairdressers, kiosks, carpenters – if this person can no longer work for health reasons, he or she will be able to transfer the use permit to another refugee for a period of five years.