North Cyprus Government Racism – “the ‘cash cows’ are being milked yet again”

Double standards: Any code or set of principles containing different provisions for one group over another. Well we have certainly seen this usage of double standards here in the TRNC, most recently in the Land Registry Office (Tapu).

The first example came when it was announced that foreigners would lose their once in a lifetime discount on their transfer of title so that first time foreign purchasers, now face the doubling of their transfer fee from 3% to 6%. This applies only to foreigners, the indigenous population will still enjoy their discount. I have called this double standards, but I think the European Court of Human Rights would actually categorise it as RACIST. I did ask the Finance Minister (on the one occasion I have met with him) why he had allowed this. His reply ‘you bought cheaply’. YOU of course, being all foreigners

Now the second example of double standards, and probably in line with the true thinking on this subject ‘you bought cheaply’, is clear in the way the Tapu are inflating the figure on which the increased transfer fees are due. As we are all made aware, it is calculated on the Contract price or the Market price, whichever is the greater.

Are the Tapu so out of touch with what is happening here that they do not realise that the ‘boom’ has turned to ‘bust’ and that far from their being any growth in the property market, there is in fact a very real recession? Should any of the people they are evaluating at a grossly inflated figure decide to sell, they would be lucky to achieve the Contract price, never mind the artificially inflated figures the Tapu are coming up with.

Clearly, the Ministry of the Interior should be intervening and making sure the Tapu (their responsibility) becomes aware of the ‘real world’ and stick to the Contract price, for if they did apply the true market price it would be less than the Contract price.

You do not have to be Einstein to work out what is happening here. The ‘cash cows’ are being milked yet again.

The sad thing is, the Property Market is taking another body blow, when it is already out for the count. Is there anyone there? Does anyone care?

Never give in never give up


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