Annual change 2.2%
According to a preliminary estimate of the Statistical Service, the House Price Index (HICP) for the third quarter of 2021 is estimated at 106.55 points. Compared to the second quarter of 2021, the CPIQ increased by 2.4% and compared to the corresponding quarter of 2020, it increased by 2.2%.
The variation of the Index for the period from Q3 2020 to Q3 2021, as well as the quarterly and annual percentage change are presented in the table below:
[TD]
Q3 2020
[/TD] [TD]Q4 2020
[/TD] [TD]Q1 2021
[/TD] [TD]Q2 Quarter 2021
[/TD] [TD]
3rd
[/TD] [/TD][TR] [TD]
Quarterly CPI(2015=100)
[/TD] [/TD] [TD]104,21
[/TD] [TD]109.10
[/TD] [TD]102.82
[/TD] [TD]104.07
[/TD] [TD]106.55
[/TD] [/TD] [/TR] [TR] [TD]
Quarterly change(%)
[/TD] [TD]-4,8
[/TD] [TD]4.7
[/TD] [TD]-5.8
[/TD] [TD]1.2
[/TD] [TD]2,4
[/TD] [/TR] [TR] [TD]
Annual change1 (%)
[/TD] [TD]-1.3
[/TD] [TD]2.4
[/TD] [TD]-5.8
[/TD] [TD]-4,9
[/TD] [TD]2,2
[/TD] [/TR]
1 Comparison with the corresponding quarter of the previous year.
METHODOLOGICAL INFORMATION
Definition
The House Price Index (HICP) is a quarterly index measuring the change in the average price of housing units. It covers all types of housing units, new and existing. The value of land is included in the price.
Source of data
The source of the data used for the individual indices and the weighting factors is the Department of Cadastre and Land Surveying of the Ministry of the Interior. The data cover all areas under the control of the Government of the Republic of Cyprus.
Data compilation
The data are categorized into two strata, existing and new housing units and for each stratum the methodology applied for the compilation of the individual indicator is the Rolling Window Hedonic Regression model. The individual indicators are then weighted by the sum of the value of the properties in each stratum in the previous year.
Base year
The base year is 2015=100.
Data revision
Results are identified as preliminary and then revised as new information becomes available.
For more information:
Statistical Service Portal, repository Price Indices
CYSTAT-DB (Database)
Predefined Tables (Excel)
The Predefined Tables will be available in Excel format by Q4 2021. Thereafter, the data will only be updated in the CYSTAT-DB Database.
EX/EXP
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Views & opinions expressed are those of the author and/or PIO
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