Cyprus Home Price Index up 1.72 percent in June

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

BuySell started to produce its 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 June 2007, it had reached CYP 98,728 – an increase of 26.72% over the 42 months since its introduction. This equates to an approximate annual growth of 7.63%.

For the whole of 2006, the Home Price Index rose by 5.9%, after a rise of 2.5% in 2005.

In the first 6 months of 2007, the home price index has risen by 5.83%