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Cyprus Home Price Index – September 2006

By Nigel Howarth
Housing crisis exacerbated by permits approval

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

The company started to produce its home 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 August 2006, it had reached CYP 92,459 – an increase of 18.67% over the 33 months since its introduction. This equates to an approximate annual growth of 6.79%.

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