26.09.2012 - Cyprus: Property price drop reaches two-year high
Cyprus residential prices in the second quarter of 2012 marked the steepest decline since 2010 Central Bank of Cyprus (CBC) figures released today show. The CBC estimates that the correction path on property prices that began in the third quarter of 2008, will continue in the short-term. The Residential Property Prices Index (houses and apartments) complied by the CBC for Q2 2012 to 90.3 units recording a decline of 2% compared to Q1 2012. Year on year Property Price Index marked a reduction of 5.9% which is biggest annual reduction in the last two years. Houses prices marked an annual decline of 6.5% and apartment prices a decline of 5.1%...............................................Full Article: Source
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