What the DLS General Valuation is, and is not

The General Valuation (Γενική Εκτίμηση) is carried out by the DLS under Part VII of the Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224. The Council of Ministers orders each round so that immovable property has a modern and uniform valuation at one reference date.

It values every property together rather than visiting each one. For the 2021 round the DLS set values per square metre for 12,690 town-planning zones and special areas, then adjusted them for each property’s recorded physical and legal characteristics in a computer-assisted valuation system, drawing on standards of the International Association of Assessing Officers (IAAO).

Each property is valued as though it were free from any encumbrance, so leases on it, registered or not, are not taken into account.

Every value in a General Valuation is stated at the round’s reference date. The DLS has published rounds at 1 January 2013, 1 January 2018 and 1 January 2021 prices. The 1 January 2021 values were published in July 2022 and are the latest published.

In March 2026 the Council of Ministers ordered a new General Valuation at 1 January 2026 prices, and the DLS gave notice in April 2026 that the work had begun. Check the DLS portal to see whether its results have been published before you rely on a figure.

A value at 1 January 2021 prices describes that date. It does not follow later movement in the market.

The DLS states that the General Valuation does not constitute the market value of a property and may be used for tax purposes and the payment of annual fees. Its FAQ says the valuation is carried out only for levying taxes and fees on immovable property. Each tax authority that uses it, such as a municipality, community or sewerage board, sets its own rates.

For any other purpose, such as a purchase or sale, an investment, borrowing or compulsory acquisition, the DLS says to consult a qualified valuer who is a member of ETEK.

A registered sale price is the amount agreed in one transaction on one date. The DLS records the contracts of sale deposited with it and the transfers it registers. Its monthly statistics separate the amount the parties declared from the amount it accepted for transfer-fee purposes.

A General Valuation value is an estimate for every property at one reference date, whether or not the property has sold.

The DLS measured the difference itself. Its quality check of the 2021 round compared values with sales made between January 2019 and May 2022, without adjusting those prices for time. The average ratio of General Valuation to sale price ranged from 0.85 to 1.05 across districts and property types, and individual properties sat on average 16% to 25% away from the median ratio.

Record-level sale prices from the DLS, covering sales and contracts of sale from 1994 onwards, are available only through a paid DLS e-service for private valuers and real estate agents. Emvadon keeps the General Valuation separate from registered sales and from indicative AVM output.

Market Value is a defined basis of value. Under the International Valuation Standards, which the RICS Red Book adopts, it is broadly the estimated amount for which a willing buyer and a willing seller would exchange a property on the valuation date, at arm’s length, after proper marketing, each acting knowledgeably, prudently and without compulsion.

A Market Value opinion concerns one property on a stated date, from a valuer who has considered its condition, title and market. A General Valuation value is produced for every property at once, from zone rates and recorded characteristics, at a reference date that may be years old.

Cap. 224 defines “value” in open-market terms and the “general valuation value” as the amount as close as possible to the actual value. The DLS aims for that, and still states that the General Valuation does not constitute the market value of a property.

Do not use a General Valuation value as an asking price, a lending valuation or a substitute for a valuer’s report. It is not Market Value.

1. Open the Interactive Maps e-service on the DLS portal (portal.dls.moi.gov.cy).
2. Choose Search and enter the land details of the property.
3. Enlarge the map, choose i-recognition and click the property once.
4. The viewer shows the value at 1 January 2021 prices and the property characteristics it was based on. Read the value as a figure at that date, not as today’s price.

The DLS describes these steps in its General Valuation FAQ.

If a characteristic recorded for your property is wrong, submit an electronic Application for Correction of Errors. The DLS says it is free of charge and can be submitted at any time after the results are published.

A formal objection to the value is different. It must be filed online within six months of the results notice in the Official Gazette, after paying a fee that depends on the value, and be supported by a valuation from a private valuer who is a member of ETEK. For the 1 January 2021 values the deadline was 31 December 2022.