Axia Valuers

Central Bank Of Cyprus Residential Property Index Q2, 2018

The RPPI (houses and apartments) increased by 0,3% in 2018Q2. This was the eighth consecutive quarterly increase. The house price index and the apartment price index recorded quarterly increases of 0,2% and 0,7%, respectively. The sub-indices of residential property prices by district have increased, with the exception of Paphos, which recorded a marginal decrease of 0,2% on a quarterly basis. 
The RPPI increased by 1,7% on an annual basis in 2018Q2. All RPPI district sub-indices have recorded annual increases, with the exception of Paphos where prices remained approximately stable. The largest annual increase in house prices was recorded in Famagusta (4,6%) and in apartment prices in Limassol (6,1%).
The significant recovery of the real estate sector in Limassol seems to be related to increased demand in specific areas, mainly coastal. For the time being, spill-over effects in the non-coastal areas of Limassol do not appear to be significant.  
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