Cyprus Mail

Home prices drop 0.9 per cent in Q2

Home prices fell in the second quarter of 2016, a drop of 0.9 per cent compared to January to March, the statistical service said.
The Cystat figure, announced in a statement on its website on Wednesday, 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 per cent every quarter according to Cystat, while according to the central bank figures, home prices dropped 0.5 per cent on average every quarter.

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