Residential property prices showed their first annual increase in seven years, according to data released on Friday by the Central Bank of Cyprus (CBC). In particular, residential property prices recorded a slight increase of 0.2% in the first quarter of 2017.
Apartment prices showed an annual increase for the second consecutive quarter (1.6%), while house prices recorded the lowest annual decline since end 2010 (0.3%).
Residential property prices Index (houses and apartments) recorded a third consecutive quarterly increase (0.3%) in the first quarter of 2017.
As reported by the Central Bank, the continued quarterly increases, albeit small, confirm the recovery of the real estate sector in Cyprus, as other relevant indicators also show.
Both house price and apartment price indices posted a 0.3% increase on a quarterly basis.
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Source: CNA
