Cyprus house prices rise 0.6 per cent

Cyprus house prices rise 0.6 per cent

Real Estate Friday, 05 October, 2018

The Cyprus house price index (HPI) rose by 0.6 per cent in the second quarter of 2018 and by 1.2 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

THE 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.”

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

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Cyprus house prices rise 0.6 per cent

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