Cyprus House Price Index Sees 2.7% Yearly Growth

by THEFUTURE.TEAM

January 13, 2025

Residential property prices continued their upward trend, with the House Price Index (HPI) climbing by 2.7% year-on-year in the third quarter of 2024, according to preliminary data from the Statistical Service of Cyprus (CYSTAT).

Quarter-on-quarter, the HPI recorded a modest 0.7% increase compared to the second quarter, bringing the index to 110.65, based on a 2015 reference year (2015=100).

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The HPI is a key metric for tracking changes in the average price of residential properties across Cyprus, encompassing new and existing homes. The index also factors in the value of the land associated with these properties, making it a comprehensive measure of market trends.

Data for the index and associated weights are sourced from the Department of Lands and Surveys under the Ministry of Interior. The figures cover all areas under the control of the Republic of Cyprus and are considered provisional, subject to updates as new information becomes available.

CYSTAT uses a detailed methodology to calculate the HPI, stratifying data into old and new properties and applying a rolling window hedonic regression model to determine sub-indices. These sub-indices are then weighted according to the total value of properties in each category from the previous year.

This latest update highlights the ongoing resilience of Cyprus’s residential property market, reflecting steady demand and a stable economic backdrop.

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Cyprus Fuel Prices Drop 7.9% In July, Among EU’s Largest Declines

by THEFUTURE.TEAM

August 25, 2026

Cyprus Among EU Leaders In Monthly Fuel Price Declines

Cyprus recorded some of the largest monthly fuel price declines in the European Union. Diesel prices fell 7.9% in July, the sharpest monthly decrease in the bloc, followed by Sweden at 7.4% and Ireland at 6.4%.

Petrol prices also declined sharply in Cyprus, with the country recording the second-largest monthly drop after Sweden, where prices fell 11.1%.

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Annual Fuel Costs Remain Above 2025 Levels

Despite the monthly decline, fuel remains significantly more expensive than a year earlier. In June 2026, the cost of fuels and lubricants for personal transport in Cyprus was 18.6% higher than in June 2025, placing the country among the EU members with the largest annual increases.

Across the EU, the annual increase slowed from 20.7% in May to 13.7% in June before rising to 16.9% in July. Monthly declines therefore have not yet brought fuel costs back to 2025 levels.

Fuel Costs Continue To Affect Businesses

Lower prices in July reduced some of the pressure on households after months of higher fuel costs. Businesses that rely on road transport remain more exposed to the annual increase, which can affect logistics and operating costs.

Cyprus therefore recorded a sharp monthly decline while still facing one of the larger year-on-year increases in the EU.

Cyprus Ranks Among EU Countries With Lowest Fuel Prices

Weekly data from the European Commission’s Weekly Oil Bulletin showed average prices in Cyprus at €1.56 per litre for 95-octane unleaded petrol and €1.70 for diesel at the beginning of August.

Using data with a reference date of Aug. 17, Cyprus had the fifth-lowest petrol price among the EU’s 27 countries. Diesel prices were also the fifth-lowest in the bloc.

The July decline has reduced fuel prices in Cyprus, but costs remain above their levels a year earlier.

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