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Cyprus house prices fall 1.8 per cent

The Cyprus house price index (HPI) fell by 1.8 per cent in the first quarter of 2018 but rose 3.7 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

Cyprus house prices fallTHE CYPRUS Statistical Service (CYSTAT) has announced that prices for houses and apartments in Cyprus fell by an average by 1.8 per cent in the first quarter of 2018 compared to the fourth quarter of 2017 in its latest House Price Index (HPI).

The HPI also reports that residential property prices in Cyprus have risen by 3.7 percent on an annual basis.

According to CYSTAT’s press release, the Cyprus House Price Index “is a quarterly index which measures the change in the average prices of residential dwellings. It captures all types of residential properties, both new and existing. The land component of the residential property is included.”

“The data source used for both, indices and weights, is the Department of Lands and Surveys, Ministry of Interior. The data cover all areas which are under the control of the government of the Republic of Cyprus.”

YearQuarterHose Price Index (2015=100)Quarterly Change
(Compared to the previous quarter) (%)
Annual Change
(Compared to the same quarter of the previous year) (%)
2018Q1103.34-1.83.7
Q2
Q3
Q4
2017Q199.64-3.02.4
Q2102.743.13.6
Q3102.46-0.30.6
Q4105.242.72.4
2016Q197.29-2.1-0.2
Q299.181.9-1.4
Q3101.872.7-0.6
Q4102.720.83.3
2015Q197.52b
Q2100.593.1
Q3102.491.9
Q499.40-3.0
2014Q198.08-2.7-6.2
Q2103.555.6-1.2
Q3102.70-0.82.8
Q4101.56-1.10.8
2013Q1104.54-3.4-1.7
Q2104.770.2-1.2
Q3103.05-4.7-9.3
Q4100.780.9-6.9
2012Q1106.40-1.1-4.6
Q2106.02-0.4-7.0
Q3110.143.9-1.0
Q4108.22-1.70.6
2011Q1111.56-0.4-2.5
Q2113.992.21.1
Q3111.22-2.4-1.0
Q4107.60-3.2-4.0
2010Q1114.37-1.6-6.6
Q2112.79-1.4-6.9
Q3112.39-0.4-5.7
Q4112.05-0.3-3.6

There is a break in the series in the first quarter of 2015 due to redefinition of the model variables.

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