Cyprus property prices rose by 3.5%

Housing prices in Cyprus rose by 3.5% in the fourth quarter of 2018 and by 1.6% year-on-year, according to Eurostat's statistical office, in its latest news release.

Compared to the third quarter of 2018, housing prices rose by 0.7% in the euro area and by 0.6% in the EU in the fourth quarter of 2018.

Among the EU member countries for which data are available, the highest annual growth in housing prices in the fourth quarter of 2018 was recorded in Slovenia (+ 18.2%), Latvia (+ 11.8%) and the Czech Republic (+ 9.9 %), while prices fell in Italy (-0.6%).

Compared with the previous quarter, the largest increase was recorded in Slovenia (+ 6.5%), Latvia (+ 4.3%) and Malta (+ 3.8%), while the decrease was observed in Denmark (-1.7%) Belgium (-0.5%), Great Britain (-0.4%), Sweden (-0.2%), Italy (-0.2%) and France (-0.2%). Eurostat reports that the annual increase in housing prices recorded in Cyprus in the fourth quarter of 2018 was 1.6%, and an increase of 3.5% compared with the previous quarter.