The Housing Price Index in Cyprus recorded a quarterly decline of 1 per cent in the fourth quarter of 2024, compared to the third quarter of the same year, according to a preliminary estimate released by the statistical service this week..

This represents the largest quarterly decrease since the fourth quarter of 2022, marking a notable shift in the trajectory of property values on the island.

The service noted that the index stood at 112.47 points for the fourth quarter of 2024.

Despite the quarter-on-quarter drop, the index still reflects an annual increase of 2.3 per cent compared to the corresponding period in 2023.