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Discount Extension on Land Registry

Discount Extension on Land Registry

Finance Minister Ersin Tatar has proposed extending discounts on Land Registry fees for another month.

Estate agents will really benefit from this as there is a current flop in sales, if the Council of Ministers approves.

Land Registry fees were 6% of the value of a property. With the 75% reduction the charge is only 1.5% the value of the property.

There was an increase of 20% in the first two months of 2009 - when the fees were lowered - compared with the first tow months of 2008.

The extension may be between one and three months, but it is up to the cabinet to decide.

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