Be the first to comment!Property Price Index rose by 6.6% during first quarter – NSO
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The Property Price Index (PPI) during the first quarter of 2023 stood at 148.89, a rise of 6.6% when compared to the corresponding quarter last year.
According to latest data from the National Statistics Office, provisional figures indicate that this increase was mainly driven by developments in the Apartments Price Index which stood at 148.97, registering an annual increase of 6.8%.
The PPI registered a rise of 6.8% during the same period when compared to the same quarter of 2022.
The NSO explained that the PPI shows the price changes of purchased residential property. It is compiled on a quarterly basis, rather than on a monthly basis, to ensure that all figures are substantiated by larger samples.
The PPI covers apartments, maisonettes and terraced houses only. However, price changes in these property types are deemed to be indicative of developments in the property market in general.
Photo: Gozo News/Alain Salvary
