According to the Central Bank of Cyprus (KMB), the Housing Price Index (RPPI) continued its upward trend in the third quarter of 2022, increasing by 2.1% compared to the 1.7% increase in the previous quarter, while on an annual basis the index decreased by 4.7% in the previous quarter. According to the sales document data of the Land Registry and Cadastre Office, real estate transactions in the first nine months of 2022 indicate an accelerated growth due to the annual increase in demand from both domestic and foreign investors. Compared to the same period of the previous year While the increase in housing prices was 4.7% in the second quarter of 2022, it increased to 6.3% in the third quarter. In the said quarter, flat prices increased by 8% and housing prices by 5.2% on an annual basis. As part of the government's international centralization program, the demand of foreign professionals is considered the most important driving force of the demand of foreign investors.Source: Cyprus News Agency