Cyprus property valuers call for faster permits, data access and building safety inspections

Nicosia, Cyprus. Cyprus’ property valuation professionals have called for faster building permit approvals, formal access to reliable property data and regular building safety inspections to improve housing supply and strengthen confidence in the real estate market.

Recommendations at annual meeting

The Cyprus Association of Real Estate Valuation Scientists, a member of the Cyprus Chamber of Commerce and Industry (Keve), presented the recommendations during its annual general meeting and continuing professional development seminar. More than 100 members and representatives of institutional and professional bodies attended.

Addressing the gathering, association president Polys Kourousides highlighted the role of professional valuers in maintaining the reliability of the property market, supporting financial stability and ensuring investment decisions are based on sound assessments.

Faster and more predictable approvals

Kourousides acknowledged progress in speeding up planning and building permit procedures, crediting efforts by the Interior Ministry and district local government organisations.

However, he said further simplification and digitalisation, together with faster and more predictable approvals, remained essential to encouraging development, attracting investment and increasing housing supply.

“Further simplification and digitalisation of procedures, as well as the swift and predictable issuance of permits, are key prerequisites for development, attracting investment and increasing housing supply,” he said.

Formal access to property data

The association called for licensed valuers to receive formal access to relevant data held by district local government organisations, particularly information on planning and building permits.

It said access should be provided with appropriate safeguards for personal data and would improve the accuracy, transparency and evidential basis of property valuations.

“Access to reliable and up-to-date information will strengthen the accuracy, transparency and documentation of valuations, for the benefit of citizens, financial institutions and the property market,” Kourousides said.

Housing affordability

Kourousides also highlighted the need to increase the number of homes available, make better use of state-owned land and promote financially sustainable affordable housing schemes through cooperation between the public and private sectors.