Cyprus Mail
Business

House prices rise an annual 2.5% in Q3, drop 0.7% compared to Q2

By Stelios Orphanides

Home prices rose 2.5 per cent in July to October 2015 compared to the respective quarter of the previous year, the European Union’s statistical office Eurostat said.

In the third quarter of 2015, house prices in Cyprus fell 0.7 per cent compared to the previous quarter, Eurostat said in a statement on its website.

In the second quarter of 2015, house prices in Cyprus rose an annual 2.4 per cent and a quarterly 7.5 per cent, according to the Eurostat data. Eurostat’s data considerably diverge from Central Bank of Cyprus figures, according to which home prices in the third quarter dropped an annual 3.7 per cent and a quarterly 0.3 per cent.

In July to September 2015, apartment prices rose 0.8 per cent while house prices fell 0.7 per cent compared to the second quarter, according to the Central Bank of Cyprus. Compared to a year before, flats and houses became 2.8 per cent and 3.9 per cent more affordable in the third quarter of 2015.

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