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.