House prices, as measured by the House Price Index, rose during the 4th quarter of 2016 by 3.1% in Cyprus compared to the previous quarter and by 2.8% compared to the same quarter of the previous year, according to Eurostat.
Meanwhile house prices rose by 4.1% in the euro area and by 4.7% in the EU in the fourth quarter of 2016 compared with the same quarter of the previous year. Compared with the third quarter of 2016, house prices rose by 0.8% in both zones in the fourth quarter of 2016.
Among the Member States for which data are available, the highest annual increases in-house prices in the fourth quarter of 2016 were recorded in the Czech Republic (+11.0%), Hungary (+9.7%) and Lithuania (+9.5%), while prices remained nearly stable in Italy (+0.1%). Compared with the previous quarter, the highest increases were recorded in Malta (+6.0%), the Czech Republic.