Compared to the second quarter of 2016, house prices rose 3.6%, Cystat said in a statement on its website on Wednesday.

In the first quarter, home prices rose an annual 2.4% and dropped a quarterly 3%.

The Cystat index relies on data obtained by the Department of Lands and Surveys.The Central Bank of Cyprus, which said in August that home prices rose in a quarterly 0.3% in Q1, and 0.2% year-on-year.

The Cyprus division of the Royal Institute of Chartered Surveyors (RICS) said that in August that house and flat prices rose a quarterly 2.3% and 1.3% in January to March.

In Q1, houses and apartments became 4.9% and 3.3% less affordable compared to the respective period last year, according to RICS.

The central bank and RICS apply a different methodology.

Source: Cyprus Mail