If building projects are completed TAXES will flow in - YES/NO

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
30/08/2009 10:59

Looking around TRNC last week and talking to property buyers with uncompleted villas, no title deeds, no electric, no water, no roads/infrastructure. It amazes me that the TRNC Government has not yet recognised that by putting pressure on the builders/advocates/land owners to ensure that all of these incomplete estates/ projects were completed then they would have

- GOOD ROAD STRUCTURE around developed areas (at no expense to them)

- a HUGE quick influx of TAX INCOME from builders/buyers/landowners taxes to finalise their properties

- a GOOD REPUTATION for TRNC as their would not be the huge problems and dissatisfaction expressed on this forum.

- A QUICK, EASY ECONOMIC RECOVERY - without lifting a finger - except ensuring that Builders/Advocates/ Landowners do what they are supposed to do.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
30/08/2009 11:05

You are right Katy.....their shortsightedness is staggering.



However,I suspect that too many are busy feathering their own nests,scratching each other's backs , and riding the gravy train whilst it lasts.

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
30/08/2009 11:07

its a big gravy boat cronos and it wont run out in your lifetime

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
30/08/2009 11:10

Is that a good thing or a bad thing for us buyers then cyprusairsoft?



When do WE get some of that gravy?

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
30/08/2009 11:10

Just think..... They could pay all of the staff they employed to

- Lean on brushes

- sit on walls

- sit on buckets

- Discuss work to be done

It would mean all their cousins would be in jobs for years

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
30/08/2009 12:11

Katymackem: All very well - but where's the money coming from to complete infrastructure, properties, etc?



Already, the banks have mortgaged so many foreigners' (fully paid for) properties, and the mortgagees appear to have spent all this loan money and, as a consequence, are, or claim they are, unable to continue to finish the various projects.



What a lot of people must be holding their breath for the time that the banks will be forced to call in all these loans. Will the government, or Turkey, bail the landowners/builders/developers out, or will those who bought and paid for their properties become the victims? This has already happened in the RoC - my former neighbour (*allegedly) being caught in this 'lawful' scam and losing her home, causing her husband to have a terminal coronary.



*Caution! Always use the word 'allegedly', irrespective of fact.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
30/08/2009 12:26

katy

Would seem obvious what you say,but then similar has been said about the environment and tourism.

.Maybe for a lot of people ,what happens in the future doesnt matter because whatever happens they will be cushioned with they have already made . Bit like the Klondike ,lets not bother about what happens when the gold runs out, just worry about getting as much of it out now.



Also.

Maybe the problem is that to those that make the decisions ,does it matter if the money to pay yourself or to run Girne comes from the taxes etc from completed buildings,or from subsidy from Turkey.?

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
30/08/2009 12:43

Good point, Girne 29!



Turkey doesn't appear to be unduly worried now - ah, but for how much longer?

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
30/08/2009 12:59

I worked in the nightclubs many years ago when gambling was in all nightclubs in the UK.

Loads and Loads of business men ended up in the same position as they gambled there customers money - what I have seen in TRNC appears to be the same. They like to saunter around in fancy clothes, smelling nice, and giving the appearance of being 'successful' businessmen with all the trappings, but when it comes to finilising their contracts they are not able to do it.

The law should be there to protect people in the TRNC not the builders then the whole of the TRNC would benefit.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
30/08/2009 14:19

If you bring this down to the day to day effects brought on by this governments apathy and inability to address the current situation, then its not just the foreign buyers that suffer, many local TC tradesmen do too.



I was going to complete furnishing my apartment on our next visit. I was prepared to spend several thousands of pounds of money at local shops. I have now decided not to go ahead. We had also thought about purchasing a car and initially considered that on retirement we would buy a villa. We won't do any of these things now.



I am sure that there are many people like me that feel the same and are no longer willing to invest in the TRNC's future. Add this to all the publicity and everyone's increased knowledge, concerning the pitfalls and risks of buying in the TRNC and it does appear that little is being done to generate good business principles.



There will always be problems buying abroad but the lack of legal address is what makes the TRNC standout.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
30/08/2009 14:44

sorry meant legal redress and not address.