Short Term Gain for Long Term Pain

[johnerebus]

Presumably some in The TRNC have gained from the incompletion of the many abandoned sites here?

The site on which I live was started 11 years ago and is still not finished and we know that the original builder made a lorra dosh from us - in the short term.

However if you look at the long term loss to the internal revenue of The TRNC it runs into many, many millions of GBP and possibly other currencies.

For simplicity's sake assume there are 20 properties on our development, although there are more than that figure, that have been standing empty and unused for 11 years. Assume that each property, if it had been completed would have been used twice a year by a family of 4. Also assume that each family would have spent £2000.00 including air fares each time they came here. Multiplying that figure of £2,000 by 2 equals £4,000.00. Multiply £4,000.00 by the number of empty - 20 - properties equals £80,000. Multiply the £80,000 by the number of 11 lost years the properties have been empty equals £8,80,000

That figure of £8,80,000 over the 11 years is just for one incomplete site. I don't know how many other unfinished sites there are in The TRNC but the financial loss here is huge. And I didn't include furniture and other home essentials that would have been bought by owners of uncompleted properties.

Is what I have stated madness on my part as sums are not my strong point? In which case I do need to visit a professional who can help me. Or is there a plague of economic madness among some of the indigenous population, especially those in power who do not have the will to change laws for the best economic outcome of The TRNC? That's a rhetorical question by the way.

[Art]

A very interesting post.

Unfortunately a lot of these sites are going through the legal process which can take many years.

In the meantime the lunacy continues.

[kiplet]

Unfortunately corruption is the name of the game here.
And while that exists only certain people gain.
Corruption prevents seeing or acting on the sense that is in your post Johnerbus.

[the butlers wife]

johnnerbus

You do not mention council tax and property tax these people would have paid. Also transfer taxes when they received their kocans. If your site isn't finished then I believe no one can get their kocans.

There are 15 properties at the back of our site at Esentepe which were virtually finished when we bought our property nine years ago. I understand there was a falling out and they have been left to deteriate. They have the windows taken out, the bathrooms and kitchens removed by anyone who wanted them. They are now rusting hulks and a blot on the landscape.

The butlers wife