CYPRUS MIRROR
reading time: 4 min.

CTP Leader Raises Concerns Over Proposed Property Sales Regulations

CTP Leader Raises Concerns Over Proposed Property Sales Regulations

CTP Leader Tufan Erhürman addressed the issue of "Property Sales to Foreigners" under Article 62 in today's parliament sitting, stating that this topic, which has been on the committee's agenda for some time, has been continuously raised by the CTP for 2.5-3 years.

Publish Date: 06/05/24 14:33
reading time: 4 min.
CTP Leader Raises Concerns Over Proposed Property Sales Regulations
A- A A+

Emphasizing the importance of land ownership in terms of population planning and economic development, Erhürman expressed concerns that failure to make necessary regulations could harm the construction sector.

Erhürman stated, "Our concern was the preservation of land ownership and the sustainable continuation of the population structure in this tiny country with an extremely small population," expressing discomfort that the issue came to the agenda not as a result of their warnings but through coverage in the Turkish media.

Regarding the recent regulation, Erhürman noted that it would, at best, slightly improve statistical data but contained nothing about protecting population, property, or land. He argued that the proposed amendment would further facilitate property acquisition by foreigners compared to the existing law, emphasizing the need for a quota on property acquisition, a requirement they have advocated for from the beginning. Erhürman warned that without such a quota, the proportion of TRNC citizens in certain areas could significantly decline.

Erhürman highlighted that in Turkey, there are regions where a 10% quota is applied, indicating that government officials share their views on this matter. He criticized the new regulation, stating that it would allow projects to be fully acquired by non-TRNC citizens, leading to potential complete foreign domination of certain areas.

With this regulation, Erhürman warned that many TRNC citizens with lower incomes would be unable to purchase properties in these projects, potentially leading to complete foreign domination of certain regions, making it unnecessary to establish polling stations in some villages in five years.

Erhürman emphasized that the social costs of the construction sector had not been calculated, pointing out the necessity of providing health, education, sewage, and waste collection services to everyone coming from abroad. He cautioned against rushing, stating, "This won't work; it's going in the wrong direction."

Erhürman warned that if this regulation were implemented, some villages might become ghost towns, as it would be impossible to know how many people bought homes for residence versus investment purposes. He called for a reevaluation of the issue, considering not only current needs but also future ones.

Erhürman outlined their requests regarding the proposed changes, including a 10% quota at the municipal level, a minimum of 30% sales quota to TRNC citizens, and no differentiation between Turkish and foreign citizens. He stressed the need for a needs analysis report before identifying areas requiring the most foreign investment.

Responding to UBP Deputy Yasemi Öztürk's question about how contracts with foreigners would be recorded and raising the issue of leasing, Erhürman opposed leasing to investors, such as those wishing to produce halloumi, emphasizing the need for decisions based on necessity.

Erhürman suggested that if necessary, the issue could also be discussed with the construction sector, emphasizing the need for necessary changes.

To keep up to date with latest Cyprus news

Comments

Attention!
Sending all kinds of financial, legal, criminal, administrative responsibility content arising from illegal, threatening, disturbing, insulting and abusive, humiliating, humiliating, vulgar, obscene, immoral, damaging personal rights or similar content. It belongs to the Member / Members.