- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Cyprus Property Prices Fall for Third Successive Month

The Cyprus property price index is published monthly by BuySell Cyprus Real Estate, a real estate advertiser.

The company started to produce its property price index in 2004. It shows the movement of prices at which residential properties in Cyprus are sold and is based on an average of around 400 to 500 home sales/month.

When the index started in January 2004, the average residential property price was CYP 77,910. By the end of November 2006, it had reached CYP 91,203 – an increase of 17.07% over the 35 months since its introduction. This equates to an approximate annual growth of 5.85%.

Since the start of 2006, property prices have increased by 6.25%.

(The graph has been produced using the figures provided on the BuySell website)