Residential property prices in Cyprus continued to rise in the third quarter of 2021, primarily driven by apartment purchases, according to Residential Property Price Index released Friday by the Central Bank of Cyprus (CBC).
The Index recorded a quarterly increase of 0.5% compared to 0.3% in the second quarter of 2021, while on an annual basis the index recorded an increase of 1.2% compared to 0.3% in the corresponding quarter of the previous year.
House prices in the third quarter decreased in many areas both on a quarterly and annual basis, contrary to the increase in apartment prices.
Specifically, house prices decreased on an annual basis by 0.3%, while on a quarterly basis the prices recorded a small increase of 0.3% mainly due to increases in Larnaca and Paphos districts. On the contrary, apartment prices increased by 1% on a quarterl
Source: Cyprus News Agency