By Stelios Orphanides
The price of home prices rose in the fourth quarter of 2016 an annual 2.8 per cent and 3.1 per cent compared with July to September, the statistical service said.
The home price index stood in October to December 2016 at 90.5 units which is 9.5 units below the 2010 average, Cystat said in a statement on its website on Friday.
In the third quarter, home prices dropped an annual 3.3 per cent and rose 0.2 per cent compared with the quarter before, according to Cystat.
Cystat’s home price index covers both new and old residential units and takes also into account the price of land, as provided the Department of Lands and Surveys.