CyStat preliminary estimate shows house prices drop by 1.3% annually in Q3 2020

House prices in Cyprus recorded an annual drop of 1.3% in the third quarter of 2020 compared with the corresponding quarter of 2019, a preliminary estimate released by the Cyprus Statistical Service (CyStat) shows.

In particular, according to a CyStat preliminary estimate, the House Price Index (HPI) for the third quarter of 2020 amounts to 104.21 units.

Compared to the second quarter of 2020, the HPI decreased by 4.8% while compared to the Index of the corresponding quarter of 2019, the Index decreased by 1.3%.

According to CyStat the HPI had recorded a quarterly increase for three quarters, by 0.8% in q4 2019, by 2.5% in q1 2020 and by 0.3% in q2 2020. It had recorded an annual drop by 0.5% in q4 2019, an increase of 1.1% in q1 2020 and an annual drop of 2.9% in q2 2020.

(CNA)