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Property Prices

Fourth highest fall in house prices

Although house prices have gone through the roof in most of the 52 countries listed in the latest IMF Global Housing Watch report, house prices in Cyprus suffered the fourth highest fall.

Second largest price fall in EU

Residential property in Cyprus recorded the second largest price fall in the EU 28 and the biggest price fall in the Eurozone annually according to a Eurostat report published yesterday.

Property prices keep falling

The fourth quarter of 2013 saw the fall in residential property values continue in many areas of Cyprus with prices of houses and apartments falling by an average of 1.6% and 0.5% respectively over the quarter.

House prices down by 1.3 per cent

House prices in the euro zone were down by 1.3% in the third quarter of 2013, according to new figures from Eurostat, the EU statistics agency, with Cyprus one of the countries with the largest falls.

Property prices continue to fall in most areas

The third quarter of 2013 saw property prices fall across most of Cyprus with apartment and house values in Famagusta increasing marginally over the quarter giving hope that prices there may be stabilising.

Prices falling for three and a half years

Since its introduction more than three and a half years ago, the RICS Cyprus Property Price Index has recorded a steady decline in the price of residential properties across the island.

Property price corrections are slow

Although property prices in Cyprus have fallen in recent times, the reductions are relatively small compared to the large price corrections that have taken place in other “memorandum” countries.

Severe property slump grips the island

The second quarter of 2013 saw property prices across Cyprus experience one of their sharpest falls in recent years as a consequence of decisions taken by the Eurogroup on 15th and 27th March.

Price falls continue as uncertainty grows

Property prices in Cyprus continued to fall during the fourth quarter of 2012 according to the RICS Cyprus Property Price Index amid the worsening state of the economy and growing uncertainty.

Double-digit falls forecast for property prices

The fall in prices of residential real estate and land in Cyprus are forecast to reach double digits by the end of next year (2014) and they will continue to fall until 2015, but to a lesser extent.

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