In the first three months of 2020, Malta’s house prices registered a rate of -4.3 per cent, when compared to the previous quarter, according to figures released by Eurostat, the statistical office of the European Union.
This decrease contrasts with the overall performance across the European Union, where house prices, as measured by the House Price Index, rose by 5.5 per cent, the highest annual increase since the second quarter of 2007. An increase of 5 per cent was also registered in the eurozone.
The data, according to Eurostat, “was not affected by the COVID-19 containment measures that Member States began to introduce during this period.”
Moreover, across the Member States for which data is available, other decreases were recorded in Hungary (-1.1%), Ireland (-0.8%) and Belgium (-0.1%).
On the other hand, increases in the first quarter of 2020 – when compared to the last three months of 2019 - were noted in Portugal (+4.9%), Estonia (+4.8%) and Slovakia (+4.0%).