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 still moving at different speeds.

+8.9%
Apartments, Cyprus, year on year, Q2 2026
+5.8%
Houses, Cyprus, year on year, Q2 2026

Source: Central Bank of Cyprus, Residential Property Price Index, 2026 Q2 (published 24 September 2026): CBC release (PDF) · district figures.

Even a narrower gap 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 a marketing view, not a report prepared to a valuation standard. Whether any report suits a lender, a court or the Tax Department depends on its purpose, the standard applied, who may rely on it and what that recipient requires.

Read the full guide →

FeatureRed BookOpinion
Basis of value stated✓—
Assumptions disclosed✓—
Fee fixed in writing before the work starts✓—
Indemnity insurance behind it✓—
Prepared to a recognised valuation standard (RICS Red Book)✓—
FAQ

Quick answers

How much does a valuation cost?

A valuation of a property worth up to €250,000 costs €300 plus VAT, €357 in total. Above that the indicative scale adds 0.1% on the value up to €1,000,000, so a €400,000 property costs €450 plus VAT. The fee is confirmed in writing before any work starts. Fees and calculator.

How long does it take?

We reply to an enquiry within one working day with the fee and terms. Once you accept, we inspect the property and deliver a standard report within up to 10 working days. If a legal deadline is running, telephone rather than email.

What documents do I need?

The title deed (or the sale contract and its Land Registry deposit receipt), the cadastral and site plans, the planning and building permits, approved drawings and, if issued, the certificate of final approval. Where a document does not exist, say so: the report then states the assumption made.

What will the report contain?

A signed RICS Red Book report addressed to you: the basis of value and valuation date, the Land Registry details, the inspection findings, the comparable evidence, the valuation and every assumption behind it. See a sample report outline.