The Cyprus Statistical Service (Cystat) has implemented a significant technical overhaul of its quarterly House Price Index (HPI), providing stakeholders with a more refined and dependable tool for tracking real estate trends. This recalibration, which spans the period from 2016 through the second quarter of 2025, is designed to align official data more closely with actual market conditions.
The Technical Shift: Precision Through Better Data
The update is more than a simple numbers refresh; it represents a fundamental enhancement in how property values are measured in Cyprus. According to Cystat, the primary drivers for this revision included:
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Advanced Quality Adjustments: The methodology now incorporates a broader range of variables to better account for the specific characteristics of properties being sold.
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Granular Microdata: Analysts now utilize more comprehensive administrative records, allowing for a deeper dive into transaction specifics.
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Cross-Index Coherence: The revised HPI has been engineered to correlate more effectively with other state-produced economic indicators, ensuring a unified view of the national economy.
Q2 2025 Performance: A Mix of Growth and Stabilization
The newly calculated figures for the second quarter of 2025 offer a clear snapshot of a market in transition. While long-term appreciation remains evident, short-term cooling was observed following the index revision.
| Metric | Revised Q2 2025 Figure |
| Current Index Points | 147.24 (Base: 2015 = 100) |
| Annual Growth (vs Q2 2024) | +2.7% |
| Quarterly Change (vs Q1 2025) | -1.9% |
These results indicate that while property owners are still seeing an annual increase in value, the rapid pace of growth seen in previous years has moderated slightly as of mid-2025.
Expanding the Horizon: The 2015–2024 Report
To support this transparency initiative, Cystat has released a specialized analytical report titled “House Price Index 2015–2024”. This document offers an exhaustive look at both new and resale dwellings, factoring in the underlying land value—a critical component of the Cypriot market.
By leveraging data directly from the Department of Lands and Surveys, the index ensures broad coverage of all residential sectors, including apartments and detached houses, providing a comprehensive “quality-constant” view of the island’s housing landscape.
Source: Property News Cyprus