Weak Penalties Allow Illegal Estate Agents to Exploit Buyers and Occupied Territories

The council’s president, Marinos Kineyirou, warned that even when these unlicensed agents are caught and convicted, the penalties are too small to prevent them from continuing.

“We’ve often raised concerns about illegal agents, who trick unsuspecting buyers and tenants, causing many to lose their life savings,” Kineyirou said. “Unfortunately, these scams keep happening.”

Despite the council’s efforts, the problem is growing worse. Kineyirou noted that illegal agents are now selling refugee properties in the occupied areas, driven solely by profit.

Key Points:

• Illegal agents are expanding operations into Turkish-occupied areas, selling refugee properties.
• Many victims are unaware they are being scammed and lose large amounts of money.
• The council has strengthened its team of inspectors and launched public awareness campaigns to help prevent scams.
• Citizens can verify real estate agents’ legitimacy through the council’s website.

Recent Actions by the Council:

• 627 criminal cases have been filed against illegal agents between 2022 and 2023.
• 40 companies and 90 individuals have been convicted, with more cases awaiting trial.
• Fines for convicted illegal agents are typically small, ranging from €150 to €200 per charge, allowing many to continue their illegal activities.

Kineyirou emphasized that while the council is committed to fighting illegal real estate agents, stronger penalties are needed to stop them. He also reminded the public that anyone working with an illegal agent—whether buying or selling—can face criminal charges.