Residential house and apartment prices in Cyprus rose for the seventh consecutive month in July 2007, as the BuySell Home Price Index rose by 1.8% over the previous month to 129.05.
Compared with the same month of the previous year, home prices in Cyprus rose by 9.7%.
The average home price according was recorded as CYP 100,546 (EUR 171,793).
The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by MFC S. Platis.
The Index is announced during the second week of each month and depicts the movement of prices at which residential properties are sold in Cyprus, based on the extensive BuySell Cyprus Real Estate database.
For more information on the methodology of the Index and on Hedonic Prices please refer to: The “Asking Price and Transaction–based Indices for the Cyprus Housing Market (Rebased)” by Dr. Stelios Platis and Marios Nerouppos of MFC S. Platis.
The BuySell Home Price Index constitutes the only valid gauge of the Cyprus housing market and is considered as an effective tool for home buyers, sellers and investors.
Source: Financial Mirror
