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Cyprus house prices down

House prices in Cyprus fell by 3.3 per cent in the third quarter of 2016 compared to the third quarter in 2015 according to the House Price Index published yesterday by Eurostat in a news release.

Cyprus house pricesHOUSE prices in the Euro area rose by 3.4% and by 4.3% in the EU, but dropped 3.3% in Cyprus during the third quarter of 2016 compared with the same quarter of the previous year.

The figures come from House Price Index statistics published by Eurostat, the statistical office of the European Union.

Among EU member states, the highest annual increases in house prices in the third quarter of 2016 were recorded in Hungary (+11.6%), Latvia (+10.8%) and Bulgaria (+8.8%). Cyprus (-3.3%) and Italy (-0.9%) were the only member states where house prices fell.

Compared with the previous quarter, the highest increases were recorded in Malta (+5.4%), Ireland (+4.7%), Estonia, Lithuania and Hungary (all +3.4%), while a decrease was observed in Romania (-0.7%). House prices in Cyprus over the quarter rose by 0.2%.

The Cyprus Statistical Service (CYSTAT) has also published its House Price Index. The figures concur with those published by Eurostat; an annual decrease of 3.3% during the third quarter of 2016 and a quarterly rise of 0.2%.

Further reading

Eurostat news release 14/2017 – 19 January 2017

CYSTAT House Price Index(HPI) Q3 2016

Readers' comments

Comments on this article are no longer being accepted.

  • stanno says:

    The prices will continue to fall in many years to come. Finally the world is aware that Cyprus is a wasps nest.
    Con-artists everywhere and phony mafiozo Government for ever.

    You go to Cyprus or have anything to do with Cyprus you will eventually regret it.

  • who gives says:

    Well I never thought the property prices were on the up like the financials GDP growth up 3%. Put when you at rock bottom any positive spin on growth hides the truth.

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