Residential property prices in Cyprus have continued to rise, according to the BuySell Home Price Index. In June 2007, home selling prices in Cyprus rose for a sixth consecutive month, recording a monthly increase of 1.7%. The BuySell Home Price Index reached 126.72 (+8.0% year-on-year) bringing the Average Home Price in Cyprus to CYP 98,728 (EUR 168,686). The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by MFC S. Platis. The Index is announced during the second week of each month and depicts the movement of prices at which residential properties are sold in Cyprus, based on the extensive BuySell Cyprus Real Estate database. For more information on the methodology of the Index and on Hedonic Prices please refer to: The "Asking Price and Transaction–based Indices for the Cyprus Housing Market (Rebased)" by Dr. Stelios Platis and Marios Nerouppos of MFC S. Platis. The BuySell Home Price Index constitutes the only valid gauge of the Cyprus housing market and is considered as an effective tool for home buyers, sellers and investors. |
