30.06.2022
A new total estimate of 1,660,048 properties in government-controlled areas of the republic, based on prices as of January 1, 2021, was released on Thursday by the Department of Land and Surveying.
Department director Ellikos Elia told CNA that the number of properties increased by 25,102, or 1.5%, compared to the 2018 total estimate of 1,634,946, valued at 186 billion euros.
He said the slight increase in the value of the property was due to the increase in the cost of building materials, adding that there were no significant fluctuations in the value of the land compared to the previous general valuation.
According to the new estimate, the largest growth was in apartments and houses in the Limassol area.
He said that the publication of the General Assessment is the basis for the transparency of the real estate market, provides insight into the market value and performance of real estate and directs potential sellers and buyers of real estate, as well as investors, to this important sector of the economy.”
At the same time, it allows the public to check the characteristics of their property, which are used to assess the overall value of their property.
