Tokens: 46
.
The
starting
point
of
the
valuation
report
was
the
rental
value
of
the
applicant
’s
property
in
1974
(
CYP
408
–
approximately
EUR
697
)
,
calculated
a
percentage
(
5
%
)
of
the
market
value
of
the
house
(
CYP
8,750
–
approximately
EUR
14,950
)
.
This
sum
was
subsequently
adjusted
upwards
or
downwards
according
to
the
annual
increase
or
decrease
,
in
order
to
arrive
at
the
annual
rent
receivable
in
1987
(
CYP
770
–
approximately
EUR
1,315
)
.
The
expert
took
into
account
the
nature
of
the
area
under
study
and
the
trends
in
rent
increase
(
an
average
of
5
%
per
annum
,
and
,
from
2002
onwards
,
of
8
%
per
annum
)
.
Compound
interest
for
delayed
payment
was
applied
at
a
rate
of
8
%
per
annum
.
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