CYPRUS: House Price Index rises 1.7% in Q3 2018

The House Price Index (HPI) in Q3 2018 increased 0.2% reaching 104.19 units compared to Q2, while compared to the same period a year ago the index rose 1.7%.

The HPI is a quarterly index which measures the change in the average prices of residential dwellings. It captures all types of residential properties, both new and existing. The land component of the residential property is included.

The index reference period was 2010=100 for the period between 2010 and 2016. Starting from the first quarter of 2017, the base year is 2015=100.

The Statistical Service also announced that the Price Index of Construction Materials increased 1.7% in 2018 compared to 2017.

For December alone, the index reached 101.15 units (base year 2015=100.00), recording a marginal increase of 0.04% compared to the previous month.