House prices in Cyprus climbed 3.4% year-on-year and 1.6% quarterly in Q1 2026, driven by price increases in both new and existing dwellings after a flat fourth quarter.

Preliminary Growth Estimates

House prices in Cyprus continued to increase in the first quarter of 2026, with the House Price Index (HPI) rising by 3.4% on an annual basis and 1.6% compared with the previous quarter, according to preliminary estimates released on Thursday by the Statistical Service of Cyprus.

Index Breakdown Against Base Year

The HPI, with 2025 as the base year, was estimated at 102.95 points in the January-March 2026 period, up from 101.34 points in the fourth quarter of 2025. Compared with the corresponding quarter of 2025, when the index stood at 99.58 points, house prices increased by 3.4%.

Market Resurgence After Stagnation

The data indicate that quarterly house price growth resumed after the index remained unchanged in the fourth quarter of 2025.

Performance of New vs. Existing Dwellings

Both new and existing dwellings recorded higher prices during the first quarter. The sub-index for new dwellings rose to 103.25 points from 102.06 points in the previous quarter, while the sub-index for existing dwellings increased more sharply to 102.51 points from 99.82 points in the fourth quarter of 2025.

Source: CNA (ΚΥΠΕ)