Since 2010, house prices in Cyprus were increasing every quarter, and no kind of decline in flat value was ever mentioned. Nevertheless, lately, The Central Bank of the country made an unbelievable announcement, which says, that during the last three months of 2015 the home prices did not change, as compared to the first quarter of the year. Information from the website of CBC claims that in October to December prices rose for 0.5%, although affordability of flats became 1.6 %, this is as compared to the third quarter. Decrease in flat prices during the third quarter was 0.3% and in the second quarter, it fell to 0.4%. Analyzing the same period, that is from October to December, in Limassol the prices did not bare any changes, they lightly fell in Larnaca and a great change took place in Nicosia, prices decreased for 0.5 %.Instead, in Famagusta, costs increased for 2.4% and in Paphos for 0.4 %, as compared to period from July to September.

In every quarter of 2015, the prices were getting lower and lower, during the second fourth quarter , it was equal to 5 %, during the third quarter to 3.7 % and finally in the fourth quarter an annual 1.8 % price decrease was registered. Drop in value for flats was greatly visible in Nicosia, Larnaca, Limassol and Paphos for 3.3, 1.8, 1.6 and 1.2 % respectively. On the contrary, the prices rose for 1.5 % in Famagusta. Comparing the third and fourth quarters no price changes are visible in Niscosia area. While in other districts prices became high, most changes bared the prices in Famagusta they became higher for 2 %, and in Paphos for 1.4 %.Except Famagusta, where prices rose for 3.6%, in all other parts of the country the costs were visibly falling. Apartments in Lancarna became cheaper for 1.6 per cent, the same was in Nicosia, and in Limassol as in Paphos more evident loss was noticed.

The Central Bank of Cyprus said that their economy is showing signs of improvement due to the domestic product, which shows growth. They are sure, that domestic economic and financial conditions will have favorable outcome for the real estate sector. According to their next announcement, the number of foreigners, who want to purchase property in Cyprus rose for 25 % and, this can be perfectly seen in the 19 % annual increase in property transactions. They also mentioned that this increase in demand is much connected with different factors, mostly of financial character and a huge role here played the drop of mortgage rates. In the last fourth quarter of 2015 it drop to an average of 3.34 %as compared to the fourth quarter of 2014 (4.39 %).And supervisory authority said, that the increase in demand for mortgages, will continue in the first part of 2016. Despite the fact, that demand for loans is high enough; they are more than sure, that the mortgage standards will not change.

The CBC also compared 2006 and 2015 price indexes and came to conclusion, that the prices are nearly identical; moreover, they are lower than in 2006.