Cyprus Mail

House prices up 1.6pct year-on-year

House prices, as measured by the House Price Index, rose by 4.2 per cent year-on-year in both the euro area and the EU in the fourth quarter of 2018 and by 1.6 per cent in Cyprus, according to Eurostat.

On a quarterly basis, house prices rose by 0.7 per cent in the euro area, 0.6 per cent in the EU, and 3.5 per cent in Cyprus in the fourth quarter of 2018.

Among the Member States for which data are available, the highest annual increases in house prices in the fourth quarter of 2018 were recorded in Slovenia (+18.2 per cent), Latvia (+11.8 per cent) and Czechia (+9.9 per cent), while prices fell in Italy (-0.6 per cent).

Compared with the previous quarter, the highest increases were recorded in Slovenia (+6.5 per cent), Latvia (+4.3 per cent) and Malta (+3.8 per cent), while decreases were observed in Denmark (-1.7 per cent), Belgium (-0.5 per cent), United Kingdom (-0.4 per cent), Sweden (-0.2 per cent), Italy (-0.2 per cent) and France (-0.2 per cent).

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