House prices up 2.3% in 4Q 24, construction down, cost +4.8%

The House Price Index (HPI) in Cyprus for the fourth quarter of 2024 rose year-on-year to 112,47 units.

Compared to the third quarter of 2024, the HPI decreased by 1,0%, while compared to the index for the corresponding quarter of 2023, an increase of 2,3% was recorded, according to preliminary estimates of the statistical service, Cystat.

The fluctuation of the index for the period between the fourth quarter of 2023 and the fourth quarter of 2024, as well as the quarterly and annual percentage changes, are presented in the table below.

Production and Output Prices in Construction

The Index of Production in Construction during the fourth quarter of 2024 reached 115,78 units (base year 2021=100,00), recording a decrease of 1,8% over the fourth quarter of 2023.

For the January-December period of 2024, the index registered an increase of 3,5% compared to the corresponding period of 2023.

The Output Prices Index in Construction for the fourth quarter of 2024 reached 122,07 units, recording an increase of 1,2% relative to the third quarter of 2024.

Compared to the same quarter of the previous year, the index increased by 4,8%.

For the January-December period of 2024, the index registered an increase of 4,5% over the corresponding period of 2023.