House prices fall 3% y-o-y in 4Q 2014
House prices in Cyprus fell by 3.0% in the fourth quarter of 2014, rose by 1.1% in the euro area and rose by 2.6% in the whole EU, compared with the last quarter of 2013, according to Eurostat, the statistical office of the European Union.
Compared with the third quarter of 2014, house prices decreased by 3.3% in Cyprus, decreased slightly in the euro area (-0.1%) and remained stable in the EU.
Among the EU member states, the highest annual increases in house prices in the fourth quarter of 2014 were recorded in Ireland (+16.3%), Malta (+11.0%), Sweden (+10.4%), Estonia (+10.1%) and the United Kingdom (+10.0%), and the largest falls in Slovenia (4.4%), Cyprus (-3.3%), Latvia (-3.2%) and Italy (2.9%).
The highest quarterly increases were recorded in Malta (+4.6%), Ireland (+3.8%), Slovakia (+2.1%) and Luxembourg (+2.0%), and the largest falls in Latvia (-10.2%), Lithuania (-4.3%) and Cyprus (3.0%).