The cost of housing in Cyprus in the third quarter of 2020 has fallen by 1.4% year on year and by 4.8% compared to the previous quarter – these data were published by Eurostat. This is the most noticeable fall in real estate prices across the EU.

On average, housing prices in the EU rose during the reporting period by 5.2% (in the eurozone – by 4.9%), statisticians say. Record growth was recorded in Luxembourg (+13.6%), the top three included Poland (+10.9%) and Austria (+8.9%). The drop in prices occurred only in two states – Ireland (-0.8%) and Cyprus (-1.4%).

Compared with the second quarter of 2020 in the third quarter of the biggest increase in prices for square meters was in Hungary (+5.2%), Denmark (+4.2%) and Latvia (+3.7%). Housing got cheaper, in addition to the record-breaking Cyprus with the index -4.8%, in Romania (-2.6%), Italy (-2.5%) and Croatia (-0.6%).