House prices in Cyprus up by 5.0% in the euro area

In the second quarter of 2020 house prices, as measured by the House Price Index, rose by 5.0% in the euro area, by 5.2% in the EU and dropped by 2.9% in Cyprus compared with the same quarter of the previous year, according to Eurostat, the statistical office of the European Union. In the first quarter 2020 house prices rose by 5.1%, 5.6% and 1.1%  respectively.

Compared with the first quarter of 2020, house prices rose by 1.7% in the euro area, 1.5% in the EU and 0.3% in Cyprus in the second quarter of 2020.

Among the Member States for which data are available, the highest annual increases in house prices in the second quarter of 2020 were recorded in Luxembourg (+13.3%), Poland (+10.9%) and Slovakia (+9.7%), while prices fell in Hungary (-5.6%) and Cyprus (-2.9%). Compared with the previous quarter, the highest increases were recorded in Luxembourg (+4.4%).

(CNA)