Price Of Housing In Cyprus Shows Smallest Increase In EU

Кипр – лидер среди стран ЕС с наименьшим ростом цен на жилье
17 January 2022 Liza Medvetskaya
1015

According to Eurostat, in the third quarter of 2021, housing prices in the Eurozone increased by 8.8% within the year, which was the highest indicator since 2005.

Housing prices increased by 9.2% in annual terms after an increase of 7.4% in the previous quarter. The growth of the indicator was the highest since the 2nd quarter of 2007.

Compared to the second quarter of 2021, in which housing prices increased by 6.8% in the euro area and by 7.3% in the entire EU, the growth now was 3.3% and 3.1%, respectively.

The smallest year-on-year price jump was registered in Cyprus (+2.2%).

It is followed by Italy and Spain (+4.2% each).

At the other end of the rating was the Czech Republic (+22.0%), Lithuania (+18.9%), Estonia (+17.3%) and the Netherlands (+16.8%), Luxembourg (+13.4%), Austria and Slovenia (+12.9% each), Latvia (+12.7%), Hungary (+12.6%), Germany (+12.0%), Sweden (+11.3%), Ireland (+10.6%) and Denmark (+10.3%).

At the same time, in the third quarter of 2021, the Cyprus residential real estate Price index (HRC) increased by 2.4% compared to the second quarter of 2021.

Кипр – лидер среди стран ЕС с наименьшим ростом цен на жилье

Along with housing prices, rents also increased in the EU countries in the third quarter of 2021 – by an average of 1.2%. Since 2010, the growth of housing in the EU has been 16%, and purchases - 39%.

At the same time, compared to the third quarter of 2021, housing prices more than doubled in Estonia (+141%), Hungary (+118%), Luxembourg (+117%), Latvia (+106%) and Austria (+104%). During the same period, a decrease was recorded only in Greece (-28%) and Italy (-12%), Cyprus (-6%) and Spain (-0.5%).

As for rents, if we compare the third quarter of 2021 with 2010, prices have increased in 25 EU member states. The largest price jump occurred in Estonia (+162%), followed by Lithuania (+111%) and Ireland (+68%).

It is noteworthy that Greece and Cyprus became the only EU countries where there was a decrease in rental prices (-25% and -3%, respectively).

Over the same period, house prices have risen more than rents in 18 EU countries.

Кипр – лидер среди стран ЕС с наименьшим ростом цен на жилье

If you are looking for a property in Cyprus, then contact DOM. The website has a large selection of real estate - residential and commercial. Experienced agency specialists will be happy to help you make the right choice.
Source: inbusinessnews.reporter.com.cy
Photos: pixabay.com
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