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Land Registry: 1,660,048 properties worth €186 billion

30/06/2022 13:46

The New General Valuation of 1,660,048 properties, throughout the government-controlled areas of the Republic, based on 1.1.2021 prices, was published on Thursday by the Department of Lands and Surveys.

The department’s director, Ellikos Elia, told CNA that the number of properties is up by 25,102 or 1.5% compared to the 2018 General Evaluation of 1,634,946 and are valued at 186 billion euros.

He said the small increase in the value of properties is due to the increased cost of construction material, adding there is no substantial fluctuation in the value of the land from the previous General Estimate.

According to the new Estimate, the biggest increases concerned apartments and houses in Limassol district.

He said the publication of the General Valuation is a pillar of transparency of the real estate market, provides an indication of the market value and performance of real estate and directs potential sellers and buyers of real estate, as well as investors in this important sector of the economy”.

At the same time, it allows the public to check their properties’ characteristics which are used to generally estimate the value of their property.