A Kiss of Life needed for the North Cyprus Property Market

How ironic that at a time when the North Cyprus Property Market is on its knees, the Tourist Industry in the TRNC is being given the ‘kiss of life’. Could such a kiss revive the North Cyprus Property Market too?

Let us look at how that could be achieved:

  1. Abolish all mortgages taken on property AFTER the sale to the innocent true owners;
  2. Make it illegal for any encumbrance whatsoever to be put on property that has been sold but awaiting title transfer, with no exceptions. In the event of any such encumbrance slipping through the net, the creditor to be held liable and the loss totally his/hers;
  3. Make fraud a criminal offence with heavy penalties;
  4. Make the Permission to Purchase process quick and efficient;
  5. Appoint inspectors whose job it would be to visit any new site to ensure all infrastructure and basic amenities such as water and electricity were installed before building commenced;
  6. Make it mandatory that the same inspector is responsible for regular visits to the same site to conduct quality control inspections of the build and materials;
  7. Make the offering and receiving of bribes and favours illegal with punitive fines and prison sentences.

If the North Cyprus Property Market recovers so will the tourist industry.



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