New property law..is it april.fool

[Reyntj]

Its laughable really....

But you cant laugh because off all the problems caused..

https://haberkibris.com/yabancilara-tas ... 05-16.html

Foreigners can now buy 3 properties.
Again
Until they change the rules next week.

This has been a shocking pantomime...a complete fiasco

Next they will be forced to discount the transfer tax as at 12 % people arent buying...

[waddo]

https://www.yeniduzen.com/yabancilar-da ... 82678h.htm Just incase the one above will not translate - here is another one!!

[EnjoyingTheSun]

Is that with the shared kocan?

[Reyntj]

I just got sent a link saying the taxes will go down from 12% to 9% but i havent seen that in any of the main stream media....wait and see i suppose..

[TAC]

looks like the builders are moaning that they are not selling the thousand of empty buildings

[Turkishcypriot]

This whole thing feels like legislative whiplash.

[Medjoul1]

Didn't they have a meeting with the Estate Agents bosses a few weeks ago? This is a sticking plaster on a gaping wound and does nothing to address some fundamental issues

[frugal90]

what are the fundamental issues??

[Reyntj]

The political parties make populist decisions without considering the blatantly obvious near term ramifications...

Eg the property rules changes have taken the developers to the brink....zero foresight ....

Another similar scenario has been the increase in wages without the means to pay for them....

If the people say jump the people making the rules jump without considering the effects....

Not unique to trnc its what politicians do all over the world to.cling on to power....

[Medjoul1]

message 8
frugal90 where have you been or are you one of the lucky ones that has full Kocan?

Let's start with the 'Transfer Tax'. How and why would you pay this when the developer/builder can't transfer Kocan? The reasons are many, company no longer exists, builder in jail, builder left the country or the builder just refused and the law is unable to enforce compliance.

[wanderer]

There is something about shared title at the bottom of this
https://www.erginellaw.com/trnc-propert ... al-update/

[laptawrinkly]

And to add into the mix, Greek side is now issuing more and more legal action against developers in the TRNC - latest was against four Turkish developers - this will not help sell properties (Guess that's the Greek side idea - torpedo the market in the north. What happens if you are one of those purchasers from said 'developer' subject to legal action in south? Hardly an incentive to help you 'complete' and get your Kocan is it?