Property Price Index and Property Volume Index

The Malta National Statistics (NSO) have released information indicating that property prices rose by 0.8 per cent in the first quarter of this year. It said the property index stood at 101.21, a rise of 0.8 per cent compared with the corresponding period last year.

The main driver was a rise of 2.5 per cent in the maisonettes index compared with the corresponding quarter last year. The apartments index declined by 0.2 per cent. This was reflected in a 0.5 per cent increase in the aggregate (apartments and maisonettes) index.

The All-Transactions Volume Index showed that the number of transactions in the first quarter this year increased by 29.2 per cent when compared to the corresponding period last year. The sharpest rise was recorded in the apartments category, by 32.4 per cent.

The largest number of transactions undertaken in the past year involved apartments (72.2 per cent), whereas the locality registering the largest number of transactions was St Paul’s Bay, with 9.7 per cent of the total transactions.