Cyprus Mail
Business Cyprus

Home prices up 4.1% in Q1, Cystat says

Home prices rose 4.1 per cent year-on-year in the first quarter of 2017, and dropped a quarterly 1.4 per cent, the statistical service said.

In the last quarter of 2016, home prices rose 3.3 per cent compared to the respective quarter of 2015, and 0.8 per cent compared to the previous quarter, Cystat said in a statement on its website.

The Cyprus division of the Royal Institute of Chartered Surveyors, which applies a different methodology, said in May that home prices rose an annual 3.3 per cent in the last quarter of 2016, and a quarterly 1.7 per cent. The Central Bank of Cyprus said last month that home prices rose 0.3 per cent in October to December last year, compared to the previous quarter, and dropped 0.9 per cent in a year.

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