The National Statistics Office said today that the Property Price Index increased by 4.8% during the first quarter of 2017, when compared to the same period last year.

There was also a rise in the Property Volume Index (PVI) of 11.1 per cent in the first quarter this year, compared to 2016.

The NSO said that 75.6 per cent of properties sold in 2016 were apartments, followed by maisonettes with 20.0 per cent and terraced houses with 4.4 per cent respectively, these figures were consistent with previous years, it said.

Photograph by Alain Salvary

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