Will Cyprus bounce back?
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The average house price in Cyprus fell 10.5% (-8.7% inflation-adjusted) in 2013, according to the Royal Institution of Chartered Surveyors (RICS). On a quarterly basis, prices fell 0.5% (-0.35% inflation-adjusted).
Apartments in Cyprus suffered even more. The capital, Nicosia, had the biggest drop in apartment prices of all Cyprus districts, with apartment prices falling by 22.3% (-20.7% inflation-adjusted), followed by Paphos -13.5% (-11.7% inflation-adjusted), Larnaca -12.4% (-10.6%), Limassol -10.13% (-8.3%) and Famagusta-Paralimni -4.6% (-2.7%).
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