Cyprus housing market remains depressed, but interest rates are falling and transactions are rising
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After six long years of house price falls Cyprus´ housing market is still falling, amidst a struggling economy. The market is truly depressed. But there is hope - transactions are rising, so maybe, just maybe, this is a sign that things are changing.
Average house prices in Cyprus fell 3.03% (-1.52% inflation-adjusted) during the year to end-Q1 2015, according to the Royal Institution of Chartered Surveyors (RICS). During the latest quarter house prices fell 0.56%.
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