Residential property prices in Cyprus continued to rise during the first quarter of 2026, according to the preliminary estimate published by the country’s Statistical Service.
The House Price Index (HPI) reached 102.95 points, representing a 1.6% increase compared with the fourth quarter of 2025 and a 3.4% annual rise compared with the first quarter of 2025.
Property price index returns to growth
Official data shows that the Property Price Index experienced fluctuations throughout 2025 before returning to a clear upward trend at the start of 2026.
The index stood at 99.58 points in the first quarter of 2025 before falling to 97.74 points in the second quarter. It then recovered to 101.35 points in the third quarter and remained virtually unchanged at 101.34 points in the final quarter of 2025, before increasing to 102.95 points in the first quarter of 2026.
On a quarterly basis, property prices rose by 4.2% in the first quarter of 2025, declined by 1.8% in the second quarter, increased by 3.7% in the third quarter and remained stable during the fourth quarter. Growth resumed in the first quarter of 2026 with a further 1.6% increase.
Annual price growth followed a similar pattern. The year-on-year increase stood at 4.7% in the first quarter of 2025, eased to 2.9% in the second quarter, accelerated to 4.2% in the third quarter and reached 6.0% in the final quarter of 2025 before moderating to 3.4% in the opening quarter of 2026.
New homes and existing properties both record price gains
The sub-index for new residential properties increased to 103.25 points in the first quarter of 2026 from 102.06 points in the previous quarter.
Over the review period, the index for new homes stood at 99.97 points in the first quarter of 2025, fell to 96.26 points in the second quarter, rebounded to 101.71 points in the third quarter and edged up to 102.06 points in the fourth quarter before recording another increase at the beginning of 2026.
Meanwhile, the sub-index for existing residential properties climbed to 102.51 points in the first quarter of 2026, compared with 99.82 points in the fourth quarter of 2025.
The index for existing homes measured 98.75 points in the first quarter of 2025 before rising to 100.84 points in the second quarter. It eased slightly to 100.59 points in the third quarter and 99.82 points in the final quarter of 2025, before strengthening to 102.51 points in the first quarter of 2026.
The latest figures indicate that Cyprus’ housing market entered 2026 on a firmer footing, with both new-build and existing residential properties contributing to the continued rise in house prices.
