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Cyprus still soaring

5/7/2008

Cyprus has brushed aside the global credit crisis in the first quarter of 2008â€¦

According to the BuySell Home Price Index, Cyprus house prices increase by 3.3% compared to December 2007, bringing the year-on-year increase to a whopping 18.6%.

The year started off exceptionally well, with house prices rising 3.6% in January, more than covering for the December 1.9% fall. The upward growth continued during February, with an increase of 1%, whilst the quarter ended with a decrease of 1.3% for March.

The BuySell Home Price Index closed at 143.64 units (March 2008) bringing the Average Home Price in Cyprus to â‚¬191,216 (CYP 111,914).