House prices decrease in Cyprus in the last quarter of 2014

House prices fell by 3.0 per cent in Cyprus, rose by 1.1 per cent in the euro area and increased 2.6 per cent in the EU in the fourth quarter of 2014 compared with the same quarter the previous year, according to figures released by Eurostat.

Compared with the third quarter of 2014, house prices decreased by 3.3 per cent in Cyprus, decreased slightly in the euro area (-0.1 per cent) and remained stable in the EU in the fourth quarter of 2014.

Among the member states for which data is available, the highest annual increases in house prices in the fourth quarter of 2014 were recorded in Ireland (+16.3 per cent), Malta (+11.0 per cent), Sweden (+10.4 per cent), Estonia (+10.1 per cent) and the United Kingdom (+10.0 per cent).

The largest falls were recorded in Slovenia (-4.4 per cent), Cyprus (-3.3 per cent), Latvia (-3.2 per cent) and Italy (-2.9 per cent). The highest quarterly increases were recorded in Malta (+4.6 per cent), Ireland (+3.8 per cent), Slovakia (+2.1 per cent) and Luxembourg (+2.0 per cent), and the largest falls in Latvia (-10.2 per cent), Lithuania (-4.3 per cent) and Cyprus (-3.0 per cent). (CNA)