Property Price Index registers an increase

A. Muscat, 12 Oct 2015

On 1 June 2015, the National Statistics Office announced that the Property Price Index increased by 2.8% when compared to the first quarter of 2014. This increase is due to a 4.5% increase in the Apartments Index, as the Maisonette Index did not have any substantial change. The Aggregate Index, for Apartments and Maisonettes, increased by 3.4%.

The Property Volume Index indicates that the value of transactions increased by 11.9% when compared to the same period last year. Again the Apartments Index had the largest increase with 15.4% increase. It is interesting to note that in the year ending 31 March 2015, Apartments added up to 73.2% of the total transactions. Furthermore, in the same period the localities registering the largest number of transactions were St. Paul’s Bay and Sliema with 8.7% and 7.1% share of the total transactions registered respectively.

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