Cyprus House Price Index down 5.8% in Q1

Cyprus’ House Price Index (HPI) decreased 5.8% in the first quarter of 2021, according to preliminary estimate of the Statistical Service.

For the first quarter of 2021 the HPI amounts to 102.82 units. Compared both to the fourth and the first quarter of 2020, the HPI decreased by 5.8%.

This is the biggest decrease on a yearly basis since the first quarter of 2014.

HPI is a quarterly index which measures the change in the average prices of residential dwellings. It captures all types of residential properties, both new and existing. The land component of the residential property is included.

Source: Cyprus News agency