Real Estate Spotlight: A Chat with Polys Kourousides
In the heart of Cyprus's bustling real estate market, the role of the professional valuer remains pivotal. According to Polys Kourousides, President of the Cyprus Property Valuers Association, these experts provide objective, expert property valuations that uphold professionalism and public trust.
Today, valuers are the ethical anchors of the market, ensuring transparency and reliability in property transactions by delivering impartial assessments grounded in rigorous methodology and ethical standards. As Cyprus's real estate market grows steadily with moderate price increases and more complex investment dynamics, the profession is expected to become even more critical.
The future trends for valuers involve the adoption of technological tools, enhanced expertise, and adherence to evolving regulatory frameworks such as the Cypriot Foreign Direct Investment (FDI) screening regime effective in 2025. Investments involving strategic assets will require thorough due diligence, making the valuer's role essential in assessing property and business values accurately for both local authorities and investors.
Kourousides emphasizes the importance of maintaining independence and credibility in the valuation profession. The interview highlights the challenges faced by valuers in a rapidly changing real estate market, where AI, ESG, and PropTech are shaping the future of the profession.
Despite these challenges, the core principles of the valuation profession—objectivity, professionalism, and maintaining public trust—remain central. As the real estate landscape becomes more complex with rising interest rates, shifting prices, and growing demand for fast, tech-driven valuations, valuers are not just price estimators; they are trusted advisors, data interpreters, and ethical anchors.
The interview with Kourousides sheds light on the evolving role of valuers in the real estate industry, underscoring the need for the profession to adapt while maintaining its core principles. It underscores the importance of maintaining public trust in the valuation profession, particularly as foreign investment and regulatory scrutiny increase.
Polys Kourousides, President of the Cyprus Property Valuers Association, is at the forefront of this evolution, discussing the role of valuers in the current real estate landscape and the impact of technological advancements on the future of the profession.
- In the Cyprus real estate market, the role of valuers, who are the ethical anchors, continues to be critical as the market grows and investment dynamics become more complex.
- As foreign investment in Cyprus increases, maintains public trust in the valuation profession becomes paramount, given the role of valuers in providing impartial assessments.
- The future of the valuation profession in Cyprus lies in the adoption of technological tools, such as AI and PropTech, within a regulatory framework that adheres to evolving standards like the Cypriot FDI screening regime.
- Valuers in Cyprus are not just price estimators; they are also trusted advisors, data interpreters, and professionals who uphold the core principles of objectivity, professionalism, and ethical standards in the real estate and finance sectors.
