The Cyprus Statistical Service (CYSTAT) has announced that the house price index fell by an average by 2.9 per cent on an annual basis in its latest House Price Index (HPI) press release.
The HPI also reports that residential property prices in Cyprus rose by 0.3 per cent compared to the previous quarter.
According to the CYSTAT 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.
“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 | 112.39 | -0.4 | -5.7 | |
| Q4 | 112.05 | -0.3 | -3.6 | |
| 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 | |
| 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 | |
| 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 | |
| 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 | |
| 2015 | Q1 | 97.52b | ||
| Q2 | 100.59 | 3.1 | ||
| Q3 | 102.49 | 1.9 | ||
| Q4 | 99.40 | -3.0 | ||
| 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 | |
| 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 | |
| 2018 | Q1 | 103.10 | -2.0 | 3.5 |
| Q2 | 104.01 | 0.9 | 1.2 | |
| Q3 | 103.12 | -0.9 | 0.6 | |
| Q4 | 107.04 | 3.8 | 1.7 | |
| 2019 | Q1 | 107.93 | 0.8 | 4.7 |
| Q2 | 112.73 | 4.5 | 8.4 | |
| Q3 | 105.64 | -6.3 | 2.4 | |
| Q4 | 106.51 | 0.8 | -0.5 | |
| 2020 | Q1 | 109.13 | 2.5 | 1.1 |
| Q2 | 109.48 | 0.3 | -2.9 | |
| Q3 | ||||
| Q4 |
b There is a break in the series in the first quarter of 2015 due to redefinition of the model variables.