The Tax Department acquires specialized access to detailed real estate data, through a cooperation agreement with Ask Wire, a provider of real estate data and analysis in Cyprus and Greece.
The agreement provides Tax Department officials with access to Ask Wire's proprietary platform, which consolidates fragmented real estate data into a single analytics environment.
The aim of the cooperation is to enhance the monitoring of the Cypriot real estate market with greater accuracy, consistency and transparency, utilizing institutional-level tools.
The platform provides a detailed picture of each plot, with information on the physical characteristics, location and ownership or legal status of properties throughout Cyprus.
It also includes processed data from official Land Registry transactions, which are filtered and combined with Ask Wire data, in order to more accurately capture the real picture of the real estate market.
Operators will have access to current sale and rental prices, through active free market ads, as well as smart mapping tools with modern maps, aerial photos and street images.
The platform also allows the monitoring of bank properties and foreclosures, including properties owned by banks or credit acquiring companies.
Ask Wire's CEO, Pavlos Loizou, said the agreement supports the modernization of the way the state assesses and monitors real estate.
As he mentioned, the combination of comparative sales, asking prices, environmental parameters and AI-based analyses provides tax officials with information of a similar quality to that used by banks, insurance companies and investment funds.
The partnership is part of the broader shift of the public administration towards evidence-based data-driven decisions, allowing the Tax Department to examine the market in near real-time and base estimates on current data.
