CYPRUS: House price index up 0.2% in 3Q, -3% y-o-y

Property prices seem to improve marginally in the third quarter, but dropped by just over 3% from a year ago, according to a preliminary estimate of the Statistical Service Cystat.

 
The House Price Index (HPI) for the third quarter of 2016 amounted to 87.76 unit, which compared to the second quarter’s 87.56 increased by 0.2%. The second quarter had improved by 2.4% from the first quarter’s 85.52, which, in turn, was down -2.9% from the last quarter of 2015.
On an annual basis, compared to the corresponding index of the previous year, the index decreased by 3.3% in the third quarter, following the -1.7% in the second quarter and -1.0% in the first.