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House prices up by 5.9% in Q1 2023

08:46 - 06 July 2023

Real Estate Reporter

House Price Index (HPI) recorded a 5.9% increase for the first quarter of 2023, marking its fifth consecutive quarterly growth compared to the same period in 2022, according to a preliminary estimate by CySTAT.

Specifically, the Housing Price Index (HPI) for the first quarter of 2023 stands at 110.14 units. This marks the fifth consecutive quarterly increase of the Index on an annual basis. The last decrease in the Index was observed in the fourth quarter of 2021, with a decline of 5.2%.

Compared to the fourth quarter of 2022, the HPI increased by 2.0% following a 4% decrease in the fourth quarter of 2022, compared to the third quarter of the same year.

(Source: CNA)

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