House prices up by 5.2% in Malta

House prices up by 5.2% over first quarter of 2016, but drastic decrease recorded when compared with the last quarter of that same year

19 July 2017, 11:42am
File photo
File photo
House prices in Malta, as measured by the House Price Index, increased by 5.2% in the first quarter of 2017 when compared to the same period last year.

However, when compared with the last quarter of 2016, prices fell by 5.4%.

The information was released by Eurostat, the statistical office of the European Union.

The information shows that prices rose by 4% in the euro area and by 4.5% in the EU.

Compared with the fourth quarter of 2016, house prices rose by 0.4% in the euro area and by 0.7% in the EU in the first quarter of 2017.Among the Member States for which data are available, the highest annual increases in house prices in the first quarter of 2017 were recorded in the Czech Republic (+12.8%), Lithuania (+10.2%) and Latvia (+10.1%), while prices fell in Croatia (-0.4%) and Italy (-0.1%).  

Compared with the previous quarter, the highest increases were recorded in the Czech Republic (+2.9%), Latvia (+2.8%) and Sweden (+2.5%), and the largest decreases in Malta (-5.4%), Slovakia (-2.4%) and Cyprus (-1.4%).

Construction: production down by 0.7% in euro area

In May 2017 compared with April 2017, seasonally adjusted production in the construction sector decreased by 0.7% in the euro area (EA19) and by 1.1% in the EU28, according to first estimates from Eurostat.

In April 2017, production in construction grew by 0.3% in the euro area and by 0.2% in the EU28.

In May 2017 compared with May 2016, production in construction increased by 2.6% in the euro area and by 2.5% in the EU28.

The decrease of 0.7% in production in construction in the euro area in May 2017, compared with April 2017, is due to civil engineering falling by 0.9% and building construction by 0.6%.

In the EU28, the decrease of 1.1% is due to both building construction and civil engineering falling by 1.1%.

Among Member States for which data are available, the largest decreases in production in construction were recorded in Slovenia (-10.6%), Sweden (-7.1%) and Slovakia (-4.9%), and the highest increases in Hungary (+7.6%), Bulgaria (+3.6%) and Italy (+2.7%).

The increase of 2.6% in production in construction in the euro area in May 2017, compared with May 2016, is due to civil engineering rising by 2.8% and building construction by 2.5%.

In the EU28, the increase of 2.5% is due to building construction rising by 2.9% and civil engineering by 1.6%.

Among Member States for which data are available, the highest increases in production in construction were recorded in Hungary (+35.3%) and Bulgaria (+11.9%). Decreases were observed in Romania (‑16.7%), Spain
(-5.6%) and Slovakia (-2.1%).