articles | 12 October 2016

Cyprus' home prices drop 0.9% in Q2 2016

Home prices on the island fell 0.9% in the second quarter of 2016 compared to January to March, the statistical service said.

The Cystat figure, announced in a statement on its website recently, is based on data received from the department of lands and surveys. They are therefore the outcome of a different methodological procedure compared to that of the Central Bank of Cyprus which bases its own home price index on evaluations collected by commercial banks.

In 2015, home prices rose on average 0.3% every quarter according to Cystat, while according to the central bank figures, home prices dropped 0.5% on average every quarter.

Source: Cyprus Mail

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