The Cyprus Land Registry has come under attack over its valuation of properties on the island and while its 2018 valuations are lower than those in 2013, property prices continue to rise.
In Cyprus, Property Transfer Fees are the local equivalent of the UK's Stamp Duty Land Tax (SDLT), is a tax that is paid by a purchaser when they buy property or land; so why are so many people complaining?
Officials at the Paphos Land Registry have been accused of breach of power by a local businessman who claims that certain officials have been deliberately dragging their feet over the survey of a plot of land.
While the Land Registry refuses to disclose methodologies it employs to value properties it merely reinforces the atmosphere of suspicion and mistrust that pervades the Cyprus property market.
The Famagusta Land Registry office may find itself in contempt of court after refusing to implement a court order for Specific Performance instructing it to transfer a property to its rightful owners.
The Department of Lands and Surveys has published a list of its revised charges and fees, many of which came into effect during 2013 and have been in operation for several months.
Earlier this year the Department of Lands and Surveys revised the charges it levies for various services provided to the public, but these have yet to be published in its 'Citizens Charter'.
The lack of transparency in the way the Land Registry assesses 1980 values of properties and the secrecy surrounding information held in the public register of titles gives cause for concern.
Land Registry Directors may soon be given powers to ease the issue of Title Deeds to individual owners of co-owned property in cases where one or more of the co-owners refuses to cooperate.
