House prices rise 0.8%

The Cyprus house price index (HPI) increased by 0.8 percent in the first quarter of 2019 and by 4.3 percent year on year according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

HPI also reports that residential property prices in Cyprus rose 4.3 percent year on year.

According to a CYSTAT press release, the Cyprus House Price Index (HPI) is a quarterly index that measures the change in average apartment prices. It covers all types of residential facilities, both new and existing. The land component of residential real estate is included.

“The source of data used for the indices is the Department of Land Resources and Surveys of the Ministry of the Interior. The data covers all areas under the control of the Government of the Republic of Cyprus. ”