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Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

  • 8 August 2019 New criteria for passport scheme

    New criteria for those wishing to obtain a Cyprus passport through the much... read more

  • 31 July 2019 This is the new Mortgage Policy Beneficiaries Boards

    Ministry of Foreign Affairs: Government's aim is to produce 'affordable housing' read more

  • 31 July 2019 Continuation of previous article This is the new Mortgage Policy Beneficiaries Boards

    Ministry of Foreign Affairs: Government's aim is to produce 'affordable housing' read more

  • 22 July 2019 Massive rise in new home construction

    The number of building permits authorised for the construction of new homes... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

  • 8 August 2019 New criteria for passport scheme

    New criteria for those wishing to obtain a Cyprus passport through the much... read more

  • 31 July 2019 This is the new Mortgage Policy Beneficiaries Boards

    Ministry of Foreign Affairs: Government's aim is to produce 'affordable housing' read more

  • 31 July 2019 Continuation of previous article This is the new Mortgage Policy Beneficiaries Boards

    Ministry of Foreign Affairs: Government's aim is to produce 'affordable housing' read more

  • 22 July 2019 Massive rise in new home construction

    The number of building permits authorised for the construction of new homes... read more

Home prices fell in first quarter

THE CYPRUS Central Bank’s Residential Property Price Index released earlier today reports that home prices fell by an average of 1 per cent during the first quarter of 2015 compared with a 2 per cent fall over the previous quarter. The prices of houses and apartments recorded quarterly falls of 0.8% and 1.5% respectively; the lowest quarterly falls since the fourth quarter of 2012. Year-on-year home prices fell 6.5 per cent in the first quarter of 2015, compared with 8 per cent in the previous quarter. The housing price index recorded the largest quarterly decline in Larnaca and Limassol (1.3%) while Famagusta recorded a quarterly increase of 0.7%. Quarterly falls were also recorded in Nicosia (-1%) and Paphos (-1.2%). The largest quarterly decline in apartment prices was in Larnaca (-4.1%), while the smallest was in Limassol (-0.8%). Apartment prices in Famagusta rose 5.1%, while those in Nicosia and Paphos fell 1.2% and 1.6% respectively. The biggest annual drop in residential property prices during the first quarter was in Nicosia (-7.2%), while the smallest annual fall was recorded in Paphos (-1.5%). Prices in Limassol, Larnaca and Famagusta showed annual falls of 6.1%, 6.8% and 1.7%, respectively. According to the Index residential property prices have returned to their 2006 levels; the year in which excess demand for residential loans started, which resulted in the property market overheating.

Read more at: http://www.news.cyprus-property-buyers.com/2015/06/12/home-prices-fell-in-first-quarter/id=0072722
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