Housing prices maintain upward trend

The upward trend in housing prices, primarily driven by increases in apartment prices, persisted during the fourth quarter of 2023, according to a report published by the Central Bank of Cyprus on Tuesday.

Based on the findings of the report, housing prices continued to rise despite a slight decrease in demand, as reflected in comparative sales data from the department of lands and surveys.

The increase in mortgage interest rates significantly affected the demand for new housing loans.