AIPP policy for members: sales in northern Cyprus
The AIPP has moved to firm up its current policy on members selling in the region of northern Cyprus.
Following a member consultation process, and the recent ruling in the Orams case, the AIPP Board has decided to regularise its policy for existing members by not allowing them to sell in northern Cyprus for the time-being.
CEO Mark Sharp said: “This is merely making a formal statement of procedures already adopted by the AIPP in terms of new membership applications. We are not making or endorsing any political argument, we are merely regularising our policy to be consistent for existing members. We will continue to monitor the situation and legal rulings, and if the situation changes we will review our approach with the same robustness as has been adopted in taking these steps in the first place.”
In adopting this position it is recognised that it is possible to buy property legally in northern Cyprus. The AIPP’s policy is in reference to its membership only, and will be in place until further notice. Any buyer looking to purchase property in this region should seek specialist legal advice, and be aware of the particular issues involved.
Any AIPP members selling in northern Cyprus are being asked to wind down those operations by September 2010. This policy will be continually reviewed.