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JOY FOR HOMEBUYERS

Interior Ministry under-secretary Al Alnar announced new moves and targets aimed at streamlining the process of purchasing property in North Cyprus, at a conference with three group members of the Homebuyers' Pressure Group on Tuesday.

Among the developments was a pledge to clear a backlog of 2,000 permission to purchase applications by June, and a commitment that the process will take only between three and four months to complete after that date.

Some foreign homeowners have waited up to four years for this permission, according to the Homebuyers' Pressure Group.

The undersecretary said a new law to regulate the property industry was currently being debated in Parliament and would be adopted by the end of this year at the latest.

Although details of the draft Bill remain unclear, he said it would allow buyers to register contracts with the Land Registry so title deeds would automatically pass to them once a specified amount of money was handed over.

This was designed to prevent sellers from refusing to hand over title deeds even after the full amount had been paid, the meeting heard.

Mr Alnar also announced that plans were being drawn up to produce booklets containing guidelines for foreigners buying property in North Cyprus, and these would be available at airports and immigration offices.