Nicosia, Cyprus. Cyprus house prices rose at a slower annual pace in the first quarter of 2026, while continuing to increase compared with the previous quarter, according to preliminary figures released by Cystat on Thursday. The House Price Index reached 102.95 points in the first three months of 2026, up 1.6 per cent from the fourth quarter of 2025 and 3.4 per cent higher than a year earlier.
Annual and quarterly changes
Cystat data showed that the annual increase of 3.4 per cent in the first quarter of 2026 was lower than the year-on-year rises recorded throughout 2025. Annual increases were 4.7 per cent in the first quarter of 2025, 2.9 per cent in the second quarter, 4.2 per cent in the third quarter and 6 per cent in the fourth quarter.
On a quarterly basis, the index rose by 1.6 per cent in the first quarter of 2026, following no change in the fourth quarter of 2025. Earlier quarterly movements showed a 4.2 per cent rise in the first quarter of 2025, a 1.8 per cent decline in the second quarter and a 3.7 per cent increase in the third quarter.
Index levels over the period
In index terms, the House Price Index stood at 99.58 in the first quarter of 2025, then fell to 97.74 in the second quarter. It rose to 101.35 in the third quarter, was little changed at 101.34 in the fourth quarter and then increased to 102.95 in the first quarter of 2026.
New dwellings
Prices for new dwellings continued to rise, with the relevant sub-index reaching 103.25 in the first quarter of 2026 from 102.06 in the previous quarter.
Across the period covered by Cystat, the sub-index for new dwellings stood at 99.97 in the first quarter of 2025, fell to 96.26 in the second quarter, rose to 101.71 in the third quarter and 102.06 in the fourth quarter, before reaching 103.25 in the first quarter of 2026.
Existing dwellings
Prices for existing dwellings also increased, with the sub-index rising to 102.51 in the first quarter of 2026 from 99.82 in the fourth quarter of 2025.
The path for existing dwellings was more uneven over the period. The sub-index stood at 98.75 in the first quarter of 2025, rose to 100.84 in the second quarter, eased to 100.59 in the third quarter and to 99.82 in the fourth quarter, before increasing to 102.51 in the first quarter of 2026.
Scope of the index
Cystat said the index measures changes in the average price of residential property, covering both new and existing homes and including the land component of residential property.
