House prices in Cyprus in the third quarter of 2008 remain resilient despite the worsening global economic conditions.
From July to September 2008, the BuySell Home Price Index recorded a total increase of 1.5% compared to the last quarter.
However, the year-on-year rate of increase decelerated (compared to the last two quarters), coming down to 9.0%.
The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by MAP S. Platis.
The Index is announced quarterly and depicts the movement of prices at which residential properties are sold in Cyprus, based on the extensive BuySell Cyprus Real Estate database.
For more information on the methodology of the Index and on Hedonic Prices please refer to: The ‘Asking Price and Transaction’ based Indices for the Cyprus Housing Market (Rebased) - by Dr. Stelios Platis and Marios Nerouppos of MAP S. Platis.
The BuySell Home Price Index constitutes the only valid gauge of the Cyprus housing market and is considered as an effective tool for home buyers, sellers and investors.
Research and Development Department
BuySell Cyprus Real Estate
For more information, please contact BuySell Real Estate on +357 26 200 000, or visit: www.buysellcyprus.com.