The Tax Department will gain specialised access to real estate data and analytics under a cooperation agreement with Ask Wire, a property data and analytics provider operating in Cyprus and Greece.
The partnership is intended to support more accurate, consistent and transparent monitoring of Cyprus’ real estate market. Under the agreement, Tax Department officers will be able to use Ask Wire’s proprietary property intelligence platform, which consolidates fragmented real estate data into one analytical environment.
The platform provides a detailed picture of each land parcel, including identification data and information on physical characteristics such as size and location, as well as ownership and legal status across Cyprus.
It also processes official Land Registry transaction data, filtering out errors and combining it with Ask Wire’s own datasets to provide a clearer picture of actual market conditions.
The system includes real-time monitoring of asking prices for sales and rentals through active listings on the open market. It also offers mapping tools, aerial imagery and street-level images, with filters showing planning zones, protected areas such as Natura 2000 sites and potential geological risks.
The platform also allows users to track bank-owned properties and foreclosure-related assets, including properties held by banks or credit-acquiring companies, and to monitor how prices evolve during restructuring or sale procedures.
Ask Wire CEO Pavlos Loizou said the company was honoured to support the Tax Department in modernising the way the state assesses and monitors real estate.
“By combining comparable sales, asking prices, environmental parameters and AI-based analytics, we provide tax officers with the same quality of information relied on daily by leading banks, insurance companies and investment funds,” he said.
Loizou added that the agreement supports “a fairer and more efficient real estate market for every stakeholder”.
Modernising public property valuation
The agreement reflects a wider shift in Cyprus’ public administration towards data-driven decision-making.
Ask Wire’s platform has been developed alongside advances in artificial intelligence and spatial modelling, allowing Tax Department officers and researchers to examine the market almost in real time, cross-check legal and environmental restrictions and base valuations on current data rather than historic benchmarks.