Home prices drop 0.3% in Q3, Cystat says

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By Stelios Orphanides

Home prices fell in the third quarter of 2017 0.3 per cent compared to April to June, the statistical service said.

In the third quarter, home prices rose an annual 0.6 per cent compared to the respective period of 2016, Cystat said in a statement on its website on Thursday.

Home prices rose 3.1 per cent in the second quarter compared to the quarter before and an annual 3.6 per cent.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • AnalogMind

    If the annual increase rate is 3.6% then a quarterly 0.3% adjustment is nothing more than a statistical anomaly. It’s certainly within the range of a statistical error.

  • Kevin Ingham

    Not really much you can deduce from these stats without a lot more information

    One assumes the price we are talking about is the “average” price amongst resales and new property?

    Given that the new stuff that is being sold with a free passport is very expensive and not very price sensitive (they could up the price by a couple of hundred thousand and still sell them), one can only assume that “ordinary” resales are still falling in price quite considerably ?

    It is of course the ordinary sales that give a true reflection of how an economy is faring, not the artificially inflated passport based ones?

    You have a normalised proper market when normal people on normal wages can afford to buy a house for themselves and their families.That situation seems a long way off to me ?