On the Cyprus property market slump continues

20.06.2012 13:45
Articles about real estate | On the Cyprus property market slump continues Since the end of the housing boom of the island - as it happened in 2008 - house prices in Cyprus fall. Do not change the situation in the current year.

KiprPo to the Central Bank of Cyprus, at the end of 2011 the average cost of housing on the island was 14.5% below the peak of the third quarter of 2008. During the 2011 House Price Index, "dipped" at 5.61%. Apartments have lost 7.2% of its value, at home - 4.7%.

Related article: In 2011, the U.S. housing devalued by almost 5%

The largest drop occurring in Famagusta, Larnaca and Paphos on. The lowest cost of housing declined in Nicosia - by 2% over 2011, according to International Business Times.

The volume of home sales in Cyprus continue to decline also. In April 2012 the sales of real estate to the local population were below 13% over the same period in 2011.

Indicators of housing sales to foreigners in April this year were 21% lower than in April 2011.
Content tags: Overseas property
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