PROPERTY: Cyprus house prices register annual 4.3% rise in Q1

Cyprus house prices rose 4.3% in the first three months of 2019 compared to the same period last year, according to the House Price Index which went from 103.34 units to 107.78.

Compared to the fourth quarter of 2018, the HPI increased 0.8% from 106.95 units.

House prices, as measured by the HPI, rose by 4.0% in both the euro area and the EU, and by 4.3% in Cyprus in Q1 2019.

Compared with Q4 2018, house prices rose by 0.3% in both the euro area and the EU, also lower than in Cyprus in Q1.

Among EU States for which data are available, the highest annual increases in house prices in Q1 2019 were recorded in Hungary (+11.3%), Czech Republic (+9.4%) and Portugal (+9.2%), while prices fell in Italy (-0.8%).

Compared with the previous quarter, the highest increases were recorded in Hungary (+3.7%), Portugal (+3.6%) and Croatia (+3.5%).

Decreases were observed in Malta (-4.2%), the United Kingdom (-1.3%), Ireland (-1.0%), Finland (-0.8%), Italy (-0.5%) and Germany (-0.3%).