An acceleration in the increase of house prices was recorded in the second quarter of 2022, mainly due to increased construction costs, the Central Bank of Cyprus says, in its quarterly report on the residential property price indices for Cyprus, drafted by the Central Bank of Cyprus’s Real Estate Unit (REU).
The Central Bank of Cyprus (CBC) House Price Index (CPI) for houses and apartments, showed an increase in the second quarter of 2022, registering a quarterly increase of 1.7% compared to 1.1% in the previous quarter, while year-on-year the index rose by 4.7% compared to 3.2% in the previous quarter.
Continue reading at source: Gold News
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