The property price index (PPI) developed by 6.5% during the Q1 2019 when compared to the Q1 2018, according to provisional figures published by the National Statistic Office (NSO).
The main cause of the increase was the price index of apartments, and also the maisonettes price index went up, the NSO says.
Furthermore, the PPI registered a rise of 5.3% in the first quarter of 2018, when compared to the same quarter of 2017. Therefore, the percentage of increase was higher during the first quarter of this year, according to the NSO provisional figures.
In addition, the PPI is compiled on a quarterly basis in order to ensure that all figures are substantiated by larger samples and shows the price changes of residential properties purchased by households.
The PPI covers apartments, maisonettes and terraced houses only. The price for the properties being included is deemed to be indicative of developments in the property market in general.
The full report including charts and visual representation of data is available for download at the website of NSO.
EDITORIAL NOTE: The cover picture of the present article has been changed to one that resembles the Maltese property market better.
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