Graph and download economic data for Real Residential Property Prices for Cyprus (QCYR628BIS) from Q1 2002 to Q4 2024 about Cyprus, residential, HPI, housing, real, price index, indexes, and price.

Housing Index in Cyprus increased to 113.71 points in the first quarter of 2025 from 112.47 points in the fourth quarter of 2024. This dataset provides - Cyprus House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Cyprus house prices grew 6.5% YoY in Sep 2024, following an increase of 8.0% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2007 to Sep 2024, with an average growth rate of 0.9%.
• House price data reached an all-time high of 25.3% in Sep 2007 and a record low of -9.4% in Mar 2014.

Residential Property Prices in Cyprus increased 4.53 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Cyprus Residential Property Prices.

Graph and download economic data for Residential Property Prices for Cyprus (QCYN368BIS) from Q1 2003 to Q3 2024 about Cyprus, residential, housing, and price.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Typically, estate agents can earn income via fees and commissions charged to clients, which allows them to protect their operating profit margin from property price fluctuations. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated rise of 1.2% in 2025 to €207.6billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this have started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, Proptech, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

Cyprus House Price Index: Limassol data was reported at 112.696 1Q2010=100 in Sep 2024. This records an increase from the previous number of 111.639 1Q2010=100 for Jun 2024. Cyprus House Price Index: Limassol data is updated quarterly, averaging 87.520 1Q2010=100 from Mar 2006 (Median) to Sep 2024, with 75 observations. The data reached an all-time high of 112.696 1Q2010=100 in Sep 2024 and a record low of 64.665 1Q2010=100 in Mar 2006. Cyprus House Price Index: Limassol data remains active status in CEIC and is reported by Central Bank of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.EB003: Residential Property Price Index.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the rising base rate environment in the years since, which have inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Revenue is forecast to fall at a compound annual rate of 4.0% over the five years through 2024 to €588.2 billion, including an anticipated drop of 3.1% in 2024. However, profitability remains strong, with the average industry profit margin standing at an estimated 41.6% in 2024. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest hike, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact – properties in many areas aren’t suitable due to their lack of green credentials. Revenue is slated to inch upwards at a compound annual rate of 3.1% over the five years through 2029 to €651.3 billion. Although economic conditions are set to improve in the short term, elevated mortgage rates will continue to weigh on demand for residential property. However, the warehousing market is positioned for solid growth, benefitting from the rise in e-commerce. This is particularly relevant to Poland, which leads the EU warehouse market.

Cyprus House Price Index: Paphos data was reported at 101.603 1Q2010=100 in Sep 2024. This records an increase from the previous number of 99.575 1Q2010=100 for Jun 2024. Cyprus House Price Index: Paphos data is updated quarterly, averaging 84.474 1Q2010=100 from Mar 2006 (Median) to Sep 2024, with 75 observations. The data reached an all-time high of 104.125 1Q2010=100 in Jun 2009 and a record low of 74.517 1Q2010=100 in Mar 2017. Cyprus House Price Index: Paphos data remains active status in CEIC and is reported by Central Bank of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.EB003: Residential Property Price Index.

Cyprus House Price Index: Larnaca data was reported at 90.577 1Q2010=100 in Sep 2024. This records an increase from the previous number of 89.570 1Q2010=100 for Jun 2024. Cyprus House Price Index: Larnaca data is updated quarterly, averaging 75.845 1Q2010=100 from Mar 2006 (Median) to Sep 2024, with 75 observations. The data reached an all-time high of 104.911 1Q2010=100 in Jun 2008 and a record low of 66.178 1Q2010=100 in Mar 2006. Cyprus House Price Index: Larnaca data remains active status in CEIC and is reported by Central Bank of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.EB003: Residential Property Price Index.

This statistic shows the house price index in Cyprus from the first quarter of 2016 to the second quarter of 2020. In the quarter ending June 2020, the house price index stood at 109.48.

Real residential property prices Y-on-Y, percent change in Cyprus, December, 2024 The most recent value is 2.95 percent as of Q4 2024, a decline compared to the previous value of 5 percent. Historically, the average for Cyprus from Q1 2003 to Q4 2024 is 2.05 percent. The minimum of -8.24 percent was recorded in Q4 2011, while the maximum of 22.87 percent was reached in Q4 2004. | TheGlobalEconomy.com

Cyprus - House price index was 2.00% in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Cyprus - House price index - last updated from the EUROSTAT on July of 2025. Historically, Cyprus - House price index reached a record high of 13.40% in December of 2006 and a record low of -7.40% in September of 2009.

Cyprus - House price index (2015 = 100) was 2.00 % year-on-year in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Cyprus - House price index (2015 = 100) - last updated from the EUROSTAT on July of 2025. Historically, Cyprus - House price index (2015 = 100) reached a record high of 8.40 % year-on-year in June of 2019 and a record low of -5.80 % year-on-year in March of 2021.

Cyprus - Housing cost overburden rate: Tenant, rent at market price was 14.40% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Cyprus - Housing cost overburden rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Cyprus - Housing cost overburden rate: Tenant, rent at market price reached a record high of 19.90% in December of 2012 and a record low of 10.50% in December of 2020.

In 2024, the average apartment rent in Cyprus ranged between ** and ** euros per square meter. The district with the highest rents was Limassol, where renting an apartment cost on average ** euros and a house, ** euros per square meter. In Cyprus, one in three households lived in rented housing.

Key information about Cyprus Real Residential Property Price Index Growth

• Cyprus Real Residential Property Price Index Growth was reported at 5.168 % in Jun 2024.
• This records a decrease from the previous number of 6.128 % for Mar 2024.
• Cyprus Real Residential Property Price Index Growth data is updated quarterly, averaging 0.221 % from Mar 2003 to Jun 2024, with 86 observations.
• The data reached an all-time high of 22.865 % in Dec 2004 and a record low of -8.235 % in Dec 2011.
• Cyprus Real Residential Property Price Index Growth data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly: YoY %.

Cyprus House Price Index: Famagusta data was reported at 91.773 1Q2010=100 in Sep 2024. This records an increase from the previous number of 89.107 1Q2010=100 for Jun 2024. Cyprus House Price Index: Famagusta data is updated quarterly, averaging 75.726 1Q2010=100 from Mar 2006 (Median) to Sep 2024, with 75 observations. The data reached an all-time high of 113.448 1Q2010=100 in Sep 2008 and a record low of 60.334 1Q2010=100 in Mar 2006. Cyprus House Price Index: Famagusta data remains active status in CEIC and is reported by Central Bank of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.EB003: Residential Property Price Index.

Cyprus - Labour cost index: Real estate activities was 6.00 % year-on-year in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Cyprus - Labour cost index: Real estate activities - last updated from the EUROSTAT on July of 2025. Historically, Cyprus - Labour cost index: Real estate activities reached a record high of 19.10 % year-on-year in June of 2021 and a record low of -17.70 % year-on-year in June of 2020.

Geneva stands out as Europe's most expensive city for apartment purchases in early 2025, with prices reaching a staggering 15,720 euros per square meter. This Swiss city's real estate market dwarfs even high-cost locations like Zurich and London, highlighting the extreme disparities in housing affordability across the continent. The stark contrast between Geneva and more affordable cities like Nantes, France, where the price was 3,700 euros per square meter, underscores the complex factors influencing urban property markets in Europe. Rental market dynamics and affordability challenges While purchase prices vary widely, rental markets across Europe also show significant differences. London maintained its position as the continent's priciest city for apartment rentals in 2023, with the average monthly costs for a rental apartment amounting to 36.1 euros per square meter. This figure is double the rent in Lisbon, Portugal or Madrid, Spain, and substantially higher than in other major capitals like Paris and Berlin. The disparity in rental costs reflects broader economic trends, housing policies, and the intricate balance of supply and demand in urban centers. Economic factors influencing housing costs The European housing market is influenced by various economic factors, including inflation and energy costs. As of April 2025, the European Union's inflation rate stood at 2.4 percent, with significant variations among member states. Romania experienced the highest inflation at 4.9 percent, while France and Cyprus maintained lower rates. These economic pressures, coupled with rising energy costs, contribute to the overall cost of living and housing affordability across Europe. The volatility in electricity prices, particularly in countries like Italy where rates are projected to reach 153.83 euros per megawatt hour by February 2025, further impacts housing-related expenses for both homeowners and renters.