Cyprus property professionals highlight permit delays and housing supply needs

Cyprus’ property valuation professionals have called for faster building permit approvals, formal access to reliable property data and regular safety inspections of buildings, as the sector seeks to improve housing supply and strengthen confidence in the real estate market. The Cyprus Association of Real Estate Valuation Scientists, a member of the Cyprus Chamber of Commerce and Industry (Keve), made the recommendations during its annual general meeting and continuing professional development seminar, attended by more than 100 members and representatives of institutional and professional bodies. 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 that investment decisions are based on sound assessments. He acknowledged progress in speeding up the procedures for issuing planning and building permits, crediting efforts by the Interior Ministry and district local government organisations. However, he stressed that further simplification and digitalisation, alongside faster and more predictable permit approvals, were essential to encouraging development, attracting investment and increasing the supply of housing. “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,” Kourousides said. The association also called for licensed valuers to receive formal access to relevant data held by district local government organisations, particularly information relating to planning and building permits. Such access, it argued, should be provided with appropriate safeguards for personal data and would help 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. On housing affordability, the association president 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. The association also renewed its call for periodic technical inspections of buildings, describing the proposed system as an equivalent of an MOT test for buildings, aimed at identifying dangerous structures and improving safety. Kourousides further argued that management committees in jointly owned buildings needed stronger powers, including effective mechanisms to collect unpaid contributions and ensure that essential maintenance was carried out. The association’s proposals come as the property sector faces pressure to increase housing availability while ensuring that buildings are properly maintained and property valuations remain reliable. During the public session, greetings were delivered by Keve secretary-general Philokypros Roussounides, Union of Cyprus Municipalities president Andreas Vyras and Nicosia district local government organisation president Constantinos Yiorkadjis. Their addresses highlighted the importance of cooperation between professional and scientific bodies and local government. The annual general meeting also reviewed the association’s activities during 2025-2026 and considered its priorities for the coming period, including the profession’s representation at European level through the European Group of Valuers’ Associations (TEGoVA). Two specialised seminars were held as part of the event, covering dangerous buildings and the valuation of hotels and tourism developments, with contributions from experienced speakers and representatives of relevant organisations. The association said it remained committed to raising professional standards, strengthening cooperation with public institutions and contributing to a more efficient, safe and reliable property market.