In the first quarter of 2009, the All-Property Price Index stood at 156.99, a decline of 2.83 per cent compared to the corresponding period last year, the National Statistics Office reported on Thursday.

The drop primarily reflected a decrease of 5.26 per cent in the apartments index, and of 2.19 per cent in the maisonettes index, compared to the corresponding quarter last year. However, when compared to the corresponding period in 2007, prices were up by 13.42 per cent.

The All-Transactions Volume Index showed that the number of transactions in the first quarter of 2009 declined by 15.11 per cent when compared to the corresponding period in 2008. This year’s volume indices were also the lowest in the six-year period under review.

Meanwhile, Favourite News reported that Maltese property is still attracting good interest from foreigners, especially from Scandinavia, and seems to be unaffected by the international recession.

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