articles | 19 June 2019

Cyprus among few EU countries where house prices fell between 2010 and 2018

Cyprus is among the few countries in the EU where house prices fell between 2010 and 2018, a new Eurostat report published recently said.

The largest decreases among member states were observed in Italy (-17%), Spain (-12%) and Cyprus (-8%).

Overall, between 2010 and 2018, house prices increased by 15% in the EU. Among the member states, the highest increases during this period were observed in Estonia (+83%), Latvia (+61%), Austria (+56%), Sweden (+55%) and Luxembourg (+50%).

House prices, including purchases of both new and existing houses and flats, have fluctuated significantly since 2006 with annual growth rates in the EU of around 8% in 2006 and 2007, followed by a fall of 4% in 2009 as a result of the financial crisis. Prices started going up again in 2014.

Source: Cyprus Mail

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