According to the latest data by the National Statistics Office (NSO) on the Property Prices Index (PPI) in the period up to March this year, the All-Property Prices Index reached 169.09. In the first quarter this year, on average, the APPI was 14.20 per cent higher than in the respective period last year.
In March 2006, the Property Prices Index for apartments reached 139.72. In the first quarter this year, apartment prices were, on average, estimated to have increased by 11.47 per cent when compared to the same period in 2005.
In March this year, the Property Prices Index for maisonettes reached 178.68. On average, prices for maisonettes were estimated to have increased by around 9.67 per cent in the first quarter this year when compared to the same period last year.
In the month under review, prices for terraced houses were estimated to have increased by an average of 13.42 per cent when compared to the same quarter last year. In March this year the Property Prices Index for terraced houses reached 190.90.
In March 2006, property prices inflation as calculated through the All-Property Prices Index was estimated at 16.28 per cent.
While in March, the inflation rates for apartments and maisonettes stood at 19.42 and 13.06 per cent respectively, that in respect of terraced houses was calculated at 8.62 per cent
The Index is based on prices in respect of three property types, namely, apartments, maisonettes and terraced houses. In addition to price indices in respect of each property type, an All-Property Prices Index (APPI) is also being compiled and released. Furthermore, price inflation rates calculated on an annual and a 12-month moving average basis are being released in respect of each property type. Each Price Index has December 2001 as its base.
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