Professional valuers warn against relying on online property assessment tools

On August 3, 2026, the Cyprus Association of Scientist Valuers of Real Estate (SEEAK), a member of the Cyprus Chamber of Commerce and Industry (KEBE), issued a public warning regarding the use of online property valuation tools and automated systems. The association clarified that while these digital platforms can serve as useful supplementary resources for obtaining a rough approximation of a property's value, they should not be treated as a substitute for a comprehensive professional appraisal.

SEEAK highlighted that automated models rely on generalized parameters and available datasets, which often fail to account for the unique characteristics, specific conditions, and real-time nuances of individual properties. According to the association, a reliable and documented valuation requires an on-site inspection, expert knowledge of the local real estate market, and the rigorous application of recognized professional standards by a qualified valuer. By issuing this statement, the association aims to caution the public against using indicative digital results as the sole basis for significant financial decision-making, emphasizing that only qualified professionals can provide the accuracy necessary for such transactions.