Prices rise for apartments and maisonettes in Gozo and Malta
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According to data released by the National Statistics Office today, during the first quarter of this year, the Property Price Index (PPI) stood at 111.11, up by 5.2% on the same period last year.
The provisional figures indicate that the main driver of the increase was the apartments price index, although the maisonettes price index also went up, the NSO said.
The PPI registered a rise of 5.3% during the same quarter last year, when compared to the same period in 2016.
The NSO explained that the PPI shows the price changes of residential properties purchased by households.
It is compiled on a quarterly rather than on a monthly basis, to ensure that all figures are substantiated by adequate samples, the NSO said.
It covers apartments, maisonettes and terraced houses only. The NSO added that the prices for the properties included in the Index are deemed to be indicative of developments in the property market in general.
Photograph by Alain Salvary