The house price index rose by 3.2 % year-on-year

The Cyprus House Price Index (HPI) rose by 3.2% year-on-year in the second quarter of 2023, according to a press release issued by the Cyprus Statistics Service (CYSTAT).

The second quarter 2023 HPI, however, decreased by -0.4% compared to the previous quarter. The base year for the HPI is 2015=100 and the index currently stands at 109.72.

According to CYSTAT, the Cyprus House Price Index is a quarterly index reflecting the change in average residential prices. It includes all types of residential real estate, both new and existing.

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The index also includes the land component of residential real estate.

The data source for the indices and weights is the Department of Land and Survey, Ministry of Home Affairs. The data cover all areas under the control of the Government of the Republic of Cyprus. Data are marked as provisional and will be adjusted as new information becomes available.