top of page
Chartered Surveyors
PROPERTY VALUATION FEES IN CYPRUS
Most valuation firms in Cyprus will not publish a fee. We will. Below is the indicative scale published by the Cyprus valuers' association, two worked examples, and exactly what changes the price.
HOW OUR FEES WORK
The Cyprus valuers' association publishes an indicative fee scale, and we work from it. The published table is headed ΕΝΔΕΙΚΤΙΚΗ ΤΙΜΟΛΟΓΗΣΗ — indicative pricing, a minimum recommended charge. It is a professional recommendation, not a mandatory tariff, and valuers may quote above or below it. We use it as our starting point because it is transparent and because you can check it yourself.
The scale is marginal. Each band applies only to the slice of value that falls within it, in the same way as an income tax band. A € 600,000 property is not charged 0.1% of € 600,000.
All figures below exclude VAT, which is added at the standard rate of 19%.
THE INDICATIVE FEE SCALE
Published by the Cyprus Association of Property Valuers, and checkable against their own page at propertyvaluers.org.cy/pricelist. All figures exclude VAT.
Up to € 250,000 — € 300
€ 250,001 to € 1,000,000 — € 300, plus 0.1% of the amount in this band
€ 1,000,001 to € 5,000,000 — € 1,050, plus 0.075% of the amount in this band
€ 5,000,001 to € 10,000,000 — € 4,050, plus 0.06% of the amount in this band
Over € 10,000,000 — € 7,050, plus 0.05% of the remainder
Each property in a different location is charged as a separate valuation.
Why a complex case costs more
The scale is based on value, but the work is driven by complexity, and the two do not always move together. A modest property can take several times longer to value properly than an expensive one.
The usual causes are title — undivided shares, no separate title issued, inheritance chains with several co-owners, encumbrances or rights of way; a divergence between what has been built and what was permitted, which has to be investigated rather than assumed; land, where the answer turns on planning zone, building coefficient and legal access rather than on comparable sales; and any case where the evidence has to be gathered from outside the ordinary record.
Where a case is going to cost more than the scale, we tell you why before we start, not afterwards on the invoice. Court instructions and development appraisals are quoted separately by agreement.
Revaluations are charged at the scale less 50%, subject to a minimum of € 150 plus VAT, where the property's condition is unchanged and the previous valuation was carried out within the last two years.
WHAT IS RICS?
RICS is the abbreviation of the official governing body for property professionals, The Royal Institution of Chartered Surveyors. They provide professional training, support and guidance as well as monitoring standards globally. Using a RICS member guarantees a high-quality survey conducted by a trustworthy and educated surveyor with years of vital experience.
By using a qualified RICS surveyor, you can rest assured that the results will be reliable and accurate. All members must continually follow the ‘RICS Rules of Conduct’ meaning that you’re fully covered with indemnity insurance for further peace of mind. For a high-quality survey, it would be wise to hire a RICS chartered surveyor.
bottom of page