Cyprus house prices up 17.5% y/y in October

Cyprus residential property prices continued to climb in October, as the BuySell Home Price Index of residential sales prices reached 138.22 in October, a rise of 17.5% on October 2006 and marking their tenth consecutive month of increase.

Compared with the previous month, prices rose by a significant 3.7%.

The average price of a home (new and resale) in Cyprus is now CYP 107,686 (EUR 184,330) according the Index.

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 is the only index of house prices in Cyprus.