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  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

  • 14 May 2020 CASINO RESORT Construction work resumes

    Construction work on the City of Dreams Mediterranean casino will resume on... read more

  • 11 May 2020 KEVE All the details of the business and employee support measures

    To deal with the effects of the crisis on the coronaire after their approval... read more

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

  • 14 May 2020 CASINO RESORT Construction work resumes

    Construction work on the City of Dreams Mediterranean casino will resume on... read more

  • 11 May 2020 KEVE All the details of the business and employee support measures

    To deal with the effects of the crisis on the coronaire after their approval... read more

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... 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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