House prices rise in Cyprus at Q4 by 3.1% and 2.8% in quarterly and annual basis.

House prices, as measured by the House Price Index, rose during the 4th quarter of 2016 by 3.1% in Cyprus compared to the previous quarter and by 2.8% compared to the same quarter of the previous year, according to Eurostat.

Meanwhile house prices rose by 4.1% in the euro area and by 4.7% in the EU in the fourth quarter of 2016 compared with the same quarter of the previous year. Compared with the third quarter of 2016, house prices rose by 0.8% in both zones in the fourth quarter of 2016.

Among the Member States for which data are available, the highest annual increases in house prices in the fourth quarter of 2016 were recorded in the Czech Republic (+11.0%), Hungary (+9.7%) and Lithuania (+9.5%), while prices remained nearly stable in Italy (+0.1%). Compared with the previous quarter, the highest increases were recorded in Malta (+6.0%), the Czech Republic (+4.7%), the Netherlands (+3.2%) and Cyprus (+3.1%), and the largest decreases in Denmark (-1.5%), Croatia (-0.6%) and Belgium (-0.4).

Source: Cyprus News Agency