Properties worth millions registered ‘zero value’

Expensive properties are sold for millions of euros but are recorded as having zero value with the Land Registry, meaning the state is missing out on sizeable tax revenues, according to opposition party AKEL. Citing a 400-page document, AKEL MP Andreas Pasiourtides told the House’s Interior Committee that hundreds of properties appear to have a total value of just €22,000. Pasiourtides claimed the list includes hotels, shops, and apartment buildings presented in the general evaluation of the DLS as having zero value. He made special reference...