Cyprus house prices up a record 12.3% y/y in September

 

Residential house prices in Cyprus rose by 12.3% year on year in September – their fastest year-on-year increase pace on record, according to the BuySell Home Price Index prepared by MFS S. Platis.

The index reached 133.23 (+12.3% year-on-year) increasing the Average Home Price in Cyprus to CYP 103,799 (EUR 177,740).

Compared with August, prices rose by a significant 2.7%, marking their ninth consecutive month of increase.

The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by MFC S. Platis.

The Index is announced during the second week of each month and depicts the movement of prices at which residential properties are sold in Cyprus, based on the extensive BuySell Cyprus Real Estate database.

For more information on the methodology of the Index and on Hedonic Prices please refer to: The “Asking Price and Transaction–based Indices for the Cyprus Housing Market (Rebased)” by Dr. Stelios Platis and Marios Nerouppos of MFC S. Platis.

The BuySell Home Price Index constitutes the only valid gauge of the Cyprus housing market and is considered as an effective tool for home buyers, sellers and investors.

Fiona Mullen