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HomeProperty NewsCyprus house prices rise 0.6 per cent

Cyprus house prices rise 0.6 per cent

Cyprus house prices rise 0.6 per centTHE CYPRUS Statistical Service (CYSTAT) has announced that prices for houses and apartments in Cyprus rose by an average by 0.6 per cent in the second quarter of 2018 compared to the first quarter in its latest House Price Index (HPI).

The HPI also reports that residential property prices in Cyprus have risen by 1.2 percent on an annual basis.

According to CYSTAT’s press release, the Cyprus House Price Index (HPI) “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.”

Year Quarter House Price Index (2015=100) Quarterly Change (Compared to the previous quarter) (%) Annual Change (Compared to the same quarter of the previous year) (%)
2018 Q1 103.34 -1.8 3.7
Q2 103.98 0.6 1.2
Q3
Q4
2017 Q1 99.64 -3.0 2.4
Q2 102.74 3.1 3.6
Q3 102.46 -0.3 0.6
Q4 105.24 2.7 2.4
2016 Q1 97.29 -2.1 -0.2
Q2 99.18 1.9 -1.4
Q3 101.87 2.7 -0.6
Q4 102.72 0.8 3.3
2015 Q1 97.52b
Q2 100.59 3.1
Q3 102.49 1.9
Q4 99.40 -3.0
2014 Q1 98.08 -2.7 -6.2
Q2 103.55 5.6 -1.2
Q3 102.70 -0.8 2.8
Q4 101.56 -1.1 0.8
2013 Q1 104.54 -3.4 -1.7
Q2 104.77 0.2 -1.2
Q3 103.05 -4.7 -9.3
Q4 100.78 0.9 -6.9
2012 Q1 106.40 -1.1 -4.6
Q2 106.02 -0.4 -7.0
Q3 110.14 3.9 -1.0
Q4 108.22 -1.7 0.6
2011 Q1 111.56 -0.4 -2.5
Q2 113.99 2.2 1.1
Q3 111.22 -2.4 -1.0
Q4 107.60 -3.2 -4.0
2010 Q1 114.37 -1.6 -6.6
Q2 112.79 -1.4 -6.9
Q3 112.39 -0.4 -5.7
Q4 112.05 -0.3 -3.6

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

1 COMMENT

  1. The villa I bought in 2001 for €400k is now worth about half the value, about €200k.

    The house I sold in the UK just outside London in 2001 for £330k is now worth (according to Zoopla) close to £950k and approaching 1m.

    So the question is will my Cyprus villa ever recover its value? I doubt it.

    Property in Cyprus has to be a home and never an investment. You can expect the value to drop.

    Ed: I expect the values of property will recover eventually. I’m surprised to hear that the €400k property you bought in 2001 is now only worth €200k. Like myself, you bought before prices went mad and your house should now be worth more considerably more than you paid for it.

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