Cyprus is among the few countries in the EU where house prices fell between 2010 and 2018, a new Eurostat report published recently said.
The largest decreases among member states were observed in Italy (-17%), Spain (-12%) and Cyprus (-8%).
Overall, between 2010 and 2018, house prices increased by 15% in the EU. Among the member states, the highest increases during this period were observed in Estonia (+83%), Latvia (+61%), Austria (+56%), Sweden (+55%) and Luxembourg (+50%).
House prices, including purchases of both new and existing houses and flats, have fluctuated significantly since 2006 with annual growth rates in the EU of around 8% in 2006 and 2007, followed by a fall of 4% in 2009 as a result of the financial crisis. Prices started going up again in 2014.
Source: Cyprus Mail
