Pursuant to the provisions of the Town and Country Planning Law N.68(I)/92, upon application made by citizens to the Department of Town Planning and Housing, the Valuation Branch calculates the market value of the unlimited plot development ratio of listed buildings. These buildings have the right to sell their unlimited ratio and are called 'Donors'. The market value of the plot development ratio is also calculated and these are called 'Receivers'. In order to simplify the assessment procedure of these cases, we have prepared tables in which the market value of the plot development ratio for all town zones within the development limits of the country, is recorded based on the market values of land adopted for the General Valuation at 1. 1.2018, in accordance with the Decision of the Council of Ministers, No. 86.498/18.12.2018, on the town planning incentive scheme, and have been uploaded on our Department's website (DLS Portal), to which both the Department of Town Planning and Housing, and the public have direct access.

Pursuant to the provisions of sections 67 and 68 of the Town and Country Planning Law, the Valuation Branch is responsible for calculating the potential substantial reduction in the value of a property as a result of a town planning decision. In the case that a town planning permit/decision is issued, which includes some onerous conditions for the development in question, then the owner is entitled to claim compensation due to a potential substantial reduction in the value of his/her property. The Valuation Branch conducts such specialised valuations upon request of the Ministry of Interior. The procedure includes negotiations with the owners and possible legal proceedings. Our branch is making an effort to simplify the procedure for such cases. The Ministry of Interior, in cooperation with the Attorney General, the Department of Town Planning and Housing and the Valuation Branch, has already initiated the procedure for amending the regulations governing the application of section 67.

According to Order 1/2015 of the Minister of Interior, this Branch has the responsibility to calculate the market value for the acquisition of green areas in case of division of land into plots. The work is conducted upon request of the Department of Town Planning and Housing, after an application of the owners, either for the acquisition of green areas or for their exchange with other private land.

In order to simplify the assessment procedure of such cases, we have calculated the market values of the green areas to be acquired, by using the market values of the plots as per the General Valuation at 1.1.2018 prices (market value / sq.m. * 70%) for all geographical areas in Cyprus.

The Valuation Branch, in cooperation with the Management of Government Land Branch, is responsible for the preparation of all types of valuations, pursuant to the provisions of section 18 of the Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224. According to this Law, the Council of Ministers may dispose of, that is, approve the grant, lease, exchange or alienation of any property held by the Republic to eligible persons, organisations or local government authorities.

All valuations carried out by private valuers, upon request of Semi-government organisations and other organisations, the Board of Directors of which is appointed by the Government, are sent to the Valuation Branch for verification of the market value or annual market rent, in accordance with the relevant legislation. According to the decision of the Council of Ministers, no. 90.551 dated 16.12.2020, when the estimated amount of the market value or the annual market rent exceeds €350,000.00, these values must be approved by the Department of Lands and Surveys. The valuers of the Branch carry out a thorough examination of the reports of the private valuers and communicate their findings to the relevant organisations.

These valuations calculate the rent paid by the Republic of Cyprus to the owners of a property which is requisitioned or rented mainly for the needs of the Ministry of Defence.

Officers of the Branch, representing the Department, form part of the Special Steering Committee for buildings of the Ministry of Foreign Affairs. In cases of purchase and/or sale of diplomatic mission buildings and Ambassador’s residences abroad, this Branch is responsible for reviewing the valuation reports prepared by the various valuation firms abroad. It also prepares, after on-site visits overseas, its own valuations and submits recommendations to the above-mentioned Steering Committee for the purchase or sale of buildings for to the Ministry of Foreign Affairs. The above procedure is based on the Code of Procedure for the Purchase and Sale of Immovable Property for Diplomatic Missions, Ambassador’s Residences and Government Missions Abroad, as approved by decision of the Council of Ministers.

The Valuation Branch conducts surveys for the calculation of the market value and market rent of commercial, residential and other properties for the development of marinas, golf courses, wind farms and technology parks.

The Acquiring Authority requests an approximate valuation of the entire project from the Valuation Branch in order to determine whether to proceed with a development project. The valuation is prepared and the approximate total amount is communicated to the Acquiring Authority.

In order to simplify the process of approximate valuation, instructions have been given to adopt the per square meter values of the town planning zones and special areas as approved for the General Valuation at 01.0.1.2018 values, and make the necessary adjustments to these values e.g. surrounded plots.

If there are comparative sales that differ from the approved values of the General Valuation by more than 15%, then the values based on the comparative sales are adopted.

Σε τέτοιου είδους εκτιμήσεις υπολογίζεται το ενοίκιο ακινήτων που καταβάλλει η Κυπριακή Δημοκρατία σε ιδιοκτήτες γης, τα οποία επιτάσσονται ή ενοικιάζονται κυρίως για τις ανάγκες του Υπουργείου Άμυνας.

These valuations, based on comparative rents, calculate the market rent paid by the Republic of Cyprus to owners of land/buildings, which are rented mainly for the needs of various Ministries and Government Departments.

The Council of Ministers by its decision no.1756, dated 22.11.2017, abolished the Central Housing Agency for Government Services (CHAGS) and the Ministry of Finance was appointed as the Ministry responsible for approving the amount of rent paid for buildings, therefore our Department receives many requests both for the determination of new rents and of revised rents for existing rental contracts.

To facilitate the processing of these cases, the Valuation Branch has prepared a table with all the necessary information that must be provided by the Government Services / Departments concerned, e.g. town planning permits, building permits, building permits, energy performance certificate, building stability, etc.