The issue of property in Cyprus, which has been the subject of protracted discussions and negotiations from the Cyprus Peace Operation in 1974 up until now, has taken on a new dimension since the government of the Turkish Republic of Northern Cyprus (TRNC) declared that the fenced area of Varosha would be re-opened to settlement. Re-opening the fenced area of Varosha to settlement would rekindle some international law debates as has been observed in the other regions of the island of Cyprus. In this regard, the objective status and erga omnes character of the Founding Treaties inclusive to the Treaty of Establishment and Treaty of Guarantee debates on the legitimacy of intervention on the island and the conformity of this intervention with international law, Resolutions of the United Nations Security Council (UNSC), and the Judgments of the European Court of Human Rights (ECtHR) on the property rights of Greek Cypriots will pave the way for new discussions on the future of Fenced Varosha. What is more, the critical claim by the Administration of Foundations in Cyprus (EVKAF), with respect to the whole area of the fenced area Varosha belonging to the Foundation Land, will lead the debate on the fenced area of Varosha in gaining another dimension. This study will first discuss, from an international law perspective, the debates on the intervention in TRNC covering the fenced area of Varosha, then the status of Varosha in the UNSC Resolutions, and finally the issues of the ownership of property and foundation land in Varosha in the light of Judgments of the ECtHR.