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This national supplement sets out supporting guidance for members on the application of RICS
Valuation – Global Standards (Red Book Global Standards) to valuations undertaken subject to the
jurisdiction of the Republic of Cyprus.
It places fresh emphasis on the fact that the content is supplemental to that in Red Book Global
Standards, and not in substitution for it. This removes the need for an overall Introduction
reproducing that in Red Book Global Standards.

This update contains the following changes:


Suggested amendments to the COVID-19 market conditions explanatory note
An updated supplement with further details about specific market circumstances
The supplement to this global practice alert, which should be read in conjunction with this alert, is available to download below. It highlights relevant sections of RICS Global Red Book.

How is the Capital Gains Tax calculated? Which cases are excluded? The article includes an indicative calculator of the Capital Gains Tax.

How does the valuer quantify #marketvalue with a lack of market comparable information in the new COVID-19 world? Where market comparable information is available, have the parties ‘acted knowledgeably, prudently and without compulsion’? Does a pandemic environment enable parties to undertake ‘proper marketing’ or do sales that are witnessed in the early stages of such an event represent an environment comprised of overly willing sellers and opportunistic buyers that is more aligned with a liquidation market? The IVSC's Tangible Assets Board has published a paper looking at this subject in more detail.

Updated 14 September 2020

This update contains the following changes:

  • Suggested amendments to market conditions explanatory note and material uncertainty declaration wording for the valuation of single assets, portfolios or groups of properties.
  • A revised practice alert supplement including further details on the above and examples.

The supplement to this global practice alert is available to download below. RICS regulated members are advised to read this in conjunction with this practice alert.

How is the Capital Gains Tax calculated? Which cases are excluded? The article includes an indicative calculator of the Capital Gains Tax.

Οι όροι ‘ρυμοτομία’ και ‘απαλλοτρίωση’ είναι θέματα που αντιμετωπίζουν συχνά όλα τα εκτιμητικά γραφεία, και απασχολούν σημαντική μερίδα ιδιοκτητών και όχι μόνο. Οι δύο όροι συχνά συγχέονται καθώς εμπέριεχουν στέρηση μέρους της ιδιοκτησίας για κοινωφελείς σκοπούς και ως συνεπακόλουθο αποζημιώσεις. Παρακάτω ακολουθεί απλή ανάλυση των όρων για ενημέρωση του κοινού.

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