Housing in Cyprus continues to fall in price
From January to March 2016, average prices for houses and apartments fell by 3.4%.
According to the Statistical Service of Cyprus, in the first quarter of 2016 the annual decline in housing prices was 1.2%. Analysts took into account all types of properties in the report, both new buildings and the secondary market, writes Cyprus Property News. According to experts, the most significant annual increase in housing prices in the first quarter of 2016 was recorded in Hungary (+15.2%), Austria (+13.4%) and Sweden (+12.5%), and a decrease was recorded in Italy and Cyprus (-1.2%). Compared to the previous quarter, the most significant increase was noted in Hungary (+5.2%), Austria (+4.2%) and Romania, and the largest decline was in Cyprus (-3.4%) and Malta (-2.8%). The data of the Statistical Service of Cyprus for the first quarter of 2016 diverges from the statistics of RICS, according to which housing on the island has already begun to rise in price.
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