Third largest fall in EU in house prices in Cyprus

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.

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.