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25th February 2024
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HomePricesHouse price index up 3.2% year-on-year

House price index up 3.2% year-on-year

The Cyprus House Price Index (HPI) rose by 3.2 per cent on an annual basis in the second quarter of 2023 according to preliminary figures in a press release issued by the island’s Statistical Service (CYSTAT).

However, HPI fell by -0.4 per cent in the second quarter of 2023 compared to the previous quarter.

The base year for the HPI is 2015=100 and the Index now stands at 109.72.

According to the CYSTAT, 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.

“Data are marked as provisional and are revised as soon as new information is available.”

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) (%)
2010 Q1 114.37 -1.6 -6.6
Q2 112.79 -1.4 -6.9
Q3