According to early estimates released by the Cyprus Statistical Service, residential property prices saw a modest decline in the final quarter of 2024.
Quarterly Decline Signals Cooling Trend
The House Prices Index fell by 1% in Q4 2024 compared to Q3—marking the sharpest quarterly drop since the tail-end of 2022. The index now stands at 112.47 points (with 2021 as the base year), highlighting a slight cooling in the real estate market after a relatively active year.
Annual Comparison Still in Positive Territory
Despite the quarterly downturn, house prices were still 2.3% higher than in Q4 2023. This suggests that while short-term fluctuations are present, the overall market trajectory remains upward when viewed year-over-year.
This data could signal a temporary adjustment rather than a major shift—especially following several quarters of growth.
Source: Stockwatch.com.cy