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12° Nicosia,
19 June, 2024
 

House prices in Cyprus increased 2.7% on a quarterly basis

The quarterly rise in property prices is among the highest in the European Union

Newsroom

In Cyprus house prices increased by 2.7% in October-December 2017 compared to the previous quarter and by 2.5% compared to the fourth quarter of 2016, according to Eurostat data.

The quarterly rise in Cyprus property prices is among the highest in the European Union, with only Slovenia and Croatia experiencing steeper upward trends.

Among the Member States for which data are available, the highest annual increases in house prices in the fourth quarter of 2017 were recorded in Ireland (+11.8%), Portugal (+10.5%) and Slovenia (+10.0%), while prices fell in Italy (-0.3%).

Compared with the previous quarter, the highest increases were recorded in Slovenia (+3.7%), Croatia (+3.2%) and Cyprus (+2.7%), while decreases were observed in Sweden (-2.8%), Denmark (-1.7%), Belgium (-0.4%) and Finland (-0.3%).

House prices, as measured by the House Price Index, rose by 4.2% in the euro area and 4.5% in the EU in the fourth quarter of 2017 compared with the same quarter of 2016.

Compared with the third quarter of 2017, house prices rose by 0.9% in the euro area and by 0.7% in the EU in the fourth quarter of 2017.

TAGS
Cyprus  |  property  |  prices  |  EU

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