In the first quarter this year, the Property Price Index stood at 104.76, a rise of 2.8 per cent compared with the corresponding period last year, the National Statistics Office reported today.

The main driver was a rise of 4.5 per cent in the Apartments Index compared with the corresponding quarter last year. The Maisonettes Index remained the same. This resulted in a 3.4 per cent increase in the Aggregate (apartments and maisonettes).

The Property Volume Index (PVI) showed that the value of transactions in the first quarter of this year increased by 11.9 per cent when compared to the corresponding period last year.

The largest increase was recorded in the Apartments Index, by 15.4 per cent. Apartments accounted for 73.2 per cent of the total transactions recorded in the past year, whereas the locality registering the largest number of transactions was St. Paul’s Bay with 8.7 per cent of total transactions.

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