Cyprus recorded the third largest annual decline in house prices in the EU during the first quarter of 2014, according to data released Thursday by Eurostat.
Prices fell by 5.7% in Cyprus in the first quarter of 2014, compared with the same quarter of the previous year. The largest decline was recorded in Croatia (-9.7%) and Slovenia (-6.6%).
House prices, as measured by the House Price Index, fell by 0.3% in the Euro area and rose by 1.0% in the EU in the first quarter of 2014 compared with the same quarter of 2013.
On a quarterly basis, house prices fell in Cyprus by 0.9% in the first quarter of 2014, compared to the last quarter of 2013.
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