The Cyprus House Price Index (HPI) climbed to 113.71 units in the first quarter of 2025, reflecting a 2 per cent increase compared with the same period in 2024, according to a preliminary estimate released by the Cyprus Statistical Service (Cystat).

When compared with the fourth quarter of 2024, the index posted a quarterly increase of 1.1 per cent.

The HPI is a quarterly indicator that measures the average price change of residential properties in Cyprus, including both new and existing housing units.

It accounts for all types of residential dwellings, and the land value is included in the price.

The data for the index and its weighting coefficients is sourced from the Department of Lands and Surveys, under the Interior Ministry.

These figures cover all areas under the control of the government of the Republic of Cyprus.

The statistical service also clarified that the base year used in the calculation of the index is 2015, with 100 units as the reference point.

The statistical service added that the index captures fluctuations in the residential property market and serves as a key economic indicator for policymakers, investors and market participants.

Over the 12-month period from the first quarter of 2024 to the first quarter of 2025, the trend has been one of steady, moderate growth, suggesting continued demand for housing in Cyprus despite broader economic uncertainties.