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ARTICLE · 03 JANUARY 2017

New General Property Valuations In Cyprus

Michael Kyprianou & Co. LLC
Michael Kyprianou & Co. LLC
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The amended Immovable Property (Tenure, Registration and Valuation) Law of 2014 (L.110(I)/2014) puts into effect the new General Valuation of Land at prices as at 1.1.13.

CyprusReal Estate and Construction
Michael Kyprianou & Co LLC
Michael Kyprianou & Co LLC
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The amended Immovable Property (Tenure, Registration and Valuation) Law of 2014 (L.110(I)/2014) puts into effect the new General Valuation of Land at prices as at 1.1.13. The new valuations were conducted in four stages by the department of Land and Surveys based on the natural and legal characteristics of the property in compliance with the provisions of the Memorandum of Understanding and they will replace the Valuations so far as at 1.1.1980.

The first stage involved the collection of real estate appraiser's characteristics (physical and legal) over Cyprus with on-site property inspections using modern technology, processing of satellite imagery and other geographic data and taking full advantage of the integrated Land Information System.

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