According to a preliminary estimate by the Statistical Service, the House Price Index (HPI) for the third quarter of 2022 is estimated at 112.51 points. Compared to the second quarter of 2022, the CPIQ increased by 5.8% and compared to the corresponding quarter of 2021, it increased by 5.3%.
The variation of the Index for the period from Q3 2021 to Q3 2022, as well as the quarterly and annual percentage change are presented in the table below:
| 3rd Quarter 2021 | 4th Quarter 2021 | 1st Quarter 2022 | 1st Quarter 2022 |
1st Quarter 2022
[/TD] [TD]2nd Quarter 2022
[/TD] [TD]3rd Quarter 2022
[/TD] [/TD] [TR] [TD]Quarterly CPI(2015=100)
[/TD] [/TD] [TD]106,80
[/TD] [TD]103.44
[/TD] [TD]103.95
[/TD] [TD]106.35
[/TD] [TD]112,51
[/TD] [/TR] [TR] [TD]Quarterly change(%)
[/TD] [TD]2.5
[/TD] [TD]-3.1
[/TD] [TD]0,5
[/TD] [TD]2.3
[/TD] [TD]5.8
[/TD] [/TD] [/TR] [TR] [TD]
Annual change1 (%)
[/TD] [/TD] [TD]2,5
[/TD] [TD]-5,2
[/TD] [TD]1,1
[/TD] [TD]2,0
[/TD] [TD]5,3
[/TD] [/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 weighting factors is the Department of Cadastre and Land Survey of the Ministry of 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 specified as preliminary and then revised as new information becomes available.
For more information:
Statistical Service Portal, Price Indices, CYSTAT-DB (Database), Predefined Tables (Excel), Methodological Information
The Predefined Tables in Excel format are updated with data up to Q4 2021. For the 1st quarter of 2022 and newer data, only the CYSTAT-DB Database is updated.
(NG/EXP)
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