Cyprus house prices up 9.4% Y/Y in Feb

Residential house prices accelerated compared with the year earlier in February, according to the BuySell Home Price Index prepared by MFC S. Platis.

The hedonic BuySell Home Price Index, which takes into account factors such as quality, reached 120.14 in February, a rise of 9.4% compared with February 2006. Home prices in January were 8.7% higher than in January 2006.

Compared with the previous month, BuySell Home Prices were 0.3% higher in February, having risen by 2.6% month on month in January.

This brought the BuySell Average Home Price to CYP 93,598 (around EUR 161,540).

For the whole of 2006, the BuySell Home Price Index rose by 5.9% in 2006, after a rise of 2.5% in 2005.