House Price Index

The House Price Index(HPI) measures changes in the selling prices of dwellings (including the value of land) purchased by households. Both new and existing dwellings are covered. The source of data used for the individual indicators and the weights are the Department of Lands and Surveys of the Ministry of Interior.

Data are received on a quarterly basis from the Department of Lands and Surveys of the Ministry of Interior. In addition, staff of the Statistical Service visit the Departments of Lands nd Surveys in the four cities to collect additional features of the transactions included in the administrative data. The data are then categorized into two strata, the old and new dwellings and for each strata the methodology used to compile the sub-index is the Rolling Window Hedonic model. Then, the individual indicators are weighted based on the sum of the value of the properties of each stratum during the previous year.

The data cover all areas under the control of the Government of the Republic of Cyprus.

Quarterly

HPI is disseminated according to pre-announced dates included in the calendar on the website of the Statistical Service. A monthly press release and relevant table are available on the website of the Statistical Service. 

Price indices: Timeseries for the period 2010-current year.

The HPIs are classified according to the following categories:

 H.1. Purchases of dwellings

   H.1.1. Purchases of new dwellings

   H.1.2. Purchases of existing dwellings

Council Regulation (EC) No 2016/792 sets the legal basis for establishing a harmonised methodology for the compilation of the HICP and HPI.

04/06/2021