Marginal fall in residential property prices
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April 30, 2021
Residential property prices dropped a marginal 0.2% in the fourth quarter of 2020, its second marginal consecutive quarterly reduction, with the government’s interest rate subsidy scheme offsetting the negative impact of the COVID-19 pandemic.
According to the Residential Property Price Index (RPPI), compiled by the Central Bank of Cyprus, residential properties in the fourth quarter of 2020 recorded a quarterly reduction of 0.2%, following a decline of 0.4% in the previous quarter.
On an annual basis, the index marked a slowdown showing in increase of 0.8% in Q4, compared with a rise of 1.2% in the previous quarter.