The Cyprus House Price Index (HPI) recorded a 1% decrease in the fourth quarter of 2024 compared to the third quarter, according to a preliminary estimate released by the Statistical Service on Tuesday.

This marks the largest quarterly decline since the fourth quarter of 2022.

The House Price Index for Q4 2024 is estimated at 112.47 points.

Despite the quarterly drop, the index showed a 2.3% increase compared to the same period in 2023, indicating that house prices remain higher year-on-year.