House prices continued their upward trend in the second quarter of 2020, recording a quarterly increase of 0.9%, compared to an increase of 0.4% in the first quarter of 2020, despite the growing market uncertainty due to the COVID-19 pandemic, the Central Bank of Cyprus (CBC) notes in a press release on the Residential Property Price Index (RPPI), CNA reports.
House prices rose by 1% while remaining stable in the previous quarter and apartment prices increased by 0.8% compared to a 1.4% increase in the previous quarter. On an annual basis, both house and apartment prices increased during the quarter under review by 1.5% and 4.3% respectively, compared to 0.8% and 4.6% respectively in the previous quarter.
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