Refugees weigh selling occupied properties due to loan access difficulties

On November 3, 2026, the House Refugees Committee in Cyprus highlighted a growing crisis where displaced persons are considering selling their properties in the occupied north to fund urgent family needs, such as children's university studies. Nikos Kettiros, the committee chairman, cited the case of an elderly woman who, in emotional distress, expressed her intent to approach the so-called Immovable Property Commission, an entity not recognized by the Republic of Cyprus, to secure necessary funds after being unable to find other financial solutions.

The committee scrutinized the Central Agency for Equal Distribution of Burdens, specifically targeting restrictive lending criteria that require applicants to provide four creditworthy co-debtors. Lawmakers also expressed outrage over a new policy dictated by the Finance Ministry, which removes interest rate subsidies for new loan applicants, placing the initial 1% burden on the borrowers themselves. Kettiros demanded explanations for these operational hurdles and warned that the committee might push for the removal of the agency’s board members if policies are not revised.

Parliamentary members have requested further data on rejected loan applications and are seeking the presence of the Finance Minister at future sessions. The committee aims to overhaul current bureaucratic procedures to ensure that refugees receive the financial support they require without being forced to relinquish their ancestral properties.