BASED on figures published by Eurostat, property prices in Cyprus rose by 2.5% in the third quarter of 2015 compared to the third quarter of 2014 and follow a 2.4% in the second quarter of 2015.
According to Eurostat, the highest annual increases in house prices during the third quarter of 2015 in EU Member States were recorded in Sweden (+13.7%), Austria (+9.3%), Ireland (+8.9%) and Denmark (+7.2%) – and the highest falls were observed in Latvia (-7.6%), Croatia (-3.0%), Italy (-2.3%) and France (-1.2%).
In the same report, the highest quarterly increases were recorded in Malta (+6.2%), Ireland (+4.5%), Austria (+4.1%), Sweden and the United Kingdom (both +3.9%) and the largest falls in Hungary (-5.9%), Slovenia (-3.5%) and Estonia (-1.9%).
It is known that Eurostat, the Cyprus Central Bank and RICS (Cyprus) employ different methodologies to calculate their indexes, but it is difficult to understand the wide variation.
Eurostat news release 14/2016 – 20 January 2016