Q1 home prices down 1.8% Q/Q, Cystat says

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By Stelios Orphanides

Home prices fell 1.8 per cent in the first quarter of the year compared to October to December last year, the first quarterly drop in four quarters, the statistical service said.

Compared to the first quarter of 2017, home prices rose an annual 3.7 per cent in January to March, Cystat said in a statement on its website on Tuesday.

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About Author

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

  • Philippos

    Maybe the Supply is on the up in response to “unreal” Demand? It is clear that some “Price Dumping” is already going on whereby “Locals” can purchase the same house or apartment more cheaply that “Foreigners”. It is not just a “Be Kind to Locals” Policy, it is an appreciation that much of what is now being built cannot be consumed only by “Passport Hunters” and Buyers with more money than sense, so has to somehow involve “Locals” and the extra profit from rip off selling to Foreigners is set off against discounts to Locals. All well and good if you can shift the stuff before the waterfall of sales from the earlier passport buyers and the subsequent disappointment of those later in the queue…and another gut punch for Cyprus “Reputation”

    • The Truth

      These Honourable people would not do this – The’re honest as the day is long.