Property valuation in Cyprus, to RICS Red Book standard

Cyprus Property Appraisals is a Limassol valuation practice led by Michael Efstathiou MRICS, registered with ETEK and working to RICS Valuation – Global Standards. We value property for lending, sale, inheritance, court, tax and development across Cyprus.

MRICS · Royal Institution of Chartered Surveyors ETEK registered · Law 224/1990 Red Book · eff. 31 January 2025 In practice since 2012
What we value

Tell us the purpose. We'll tell you what the report has to contain.

The purpose of a valuation determines its basis of value, its assumptions and its form — which is why the first question is never “what is it worth”.

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The valuer

You speak to the person who signs the report.

No account manager, no intake team. Michael Efstathiou MRICS inspects the property, writes the report, and answers for the figure — to a credit committee, a court, or you.

About the practice →

Coastal land under valuation, Limassol district
Coastal land under inspection, Limassol district
The market

Apartments and houses are not moving together.

+10.8%
Apartments, Cyprus, year on year
+3.0%
Houses, Cyprus, year on year

A gap that size is why a valuation has to rest on evidence from the right segment, not a headline index. Full market data →

Worth knowing

Two figures that are not market value.

The Land Registry General Valuation is a tax figure at a fixed base date of 1 January 2021 — the Department of Lands and Surveys says it cannot be used for sales, investment or borrowing. An agent's opinion of price is not prepared to any valuation standard, and no credit committee or court will accept it.

Read the full guide →

Red BookOpinion
Basis of value stated✓—
Assumptions disclosed✓—
Fee fixed in writing before the work starts✓—
Indemnity insurance behind it✓—
Meets the standard banks and courts require✓—