Residential property prices in Cyprus continued to fall during the first quarter of 2012, albeit at a slower rate, according to the latest data from the Central Bank.
The figures reveal that the average price of a home in Cyprus depreciated by 1% quarter-on-quarter compared to -1.8% in the previous quarter, led by falls in Paphos and Famagusta, were prices fell by 3.1% and 2.4%, respectively. Year-on-year average property prices dropped by 4.3%.
But despite the slowdown in property price falls, the Central Bank dashed any hopes of a market recovery, indicating that prices are actually likely to fall further, due to the fragile state of the economy, a lack of mortgage liquidity and low demand from homebuyers.
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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