What you need to know about property valuations in Cyprus

If you are thinking of selling your home within the next year, you must first determine its current market value. This can be done through our expert property valuations in Cyprus.

The home value or else market value, is the amount of money that interested buyers are willing to pay for your home, and knowing some information to determine this, will assist you to set up an asking price.

The value of your home is determined by a number of factors, including:

1. The location
Your home’s value will increase if it is in a desirable and safe neighbourhood with low crime rate. Good access to the highway, shopping centres, and restaurants can also increase its value.

2. The size and condition
Your property’s size and layout is also important in determining its market value. And if you’ve recently had the house renovated it could also increase its value. 

3. School district
According to a recent study, people interested in buying a new home will consider the quality of nearby schools, therefore living in a good school district can also increase the property’s valuation. 

4. Comparable homes
Buyers may look at similar houses to see what they sold for in the last few months. 

5. Current market conditions
The current market conditions will definitely have an impact on any property validation in general. For example, if there are more buyers than houses, you will be able to demand a higher price for your home. In addition, high interest rates may discourage people from purchasing a home.

Here at Synergy Real Estate, we provide detailed property valuation services for all property types throughout Cyprus, using GIS-based software and thorough market data analysis.

The valuation process begins with a thorough inspection of the property, followed by extensive market research that includes an examination of recently sold comparable properties as well as the market forces that are critical for the market value of a property.

Our valuation reports adhere to a strict set of guidelines, best practices, ethics, and professional standards established by the Royal Institution of Chartered Surveyors (RICS) Valuation Standards and ETEK certification.

Valuation Purposes Include:

  • Bank Lending Purposes
  • Purchase and Sale Valuations
  • Compulsory Purchases reimbursement
  • Financial Reporting
  • Advisory Purposes
  • Rental Valuations
  • Portfolio Analysis
  • Court Valuations
  • Development Appraisals
  • Feasibility Studies

Property Types Valuations:

  • Residential
  • Land Under Development
  • Commercial
  • Industrial
  • Investment Properties
  • Retail
  • Hotels

If you are interested in finding out more about our property valuation services, do not hesitate to contact our team on 22525269 or visit our website here. Alternatively, you can fill in our form here and one of our representatives will get in contact with you.