Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/210832
Year of Publication: 
2019
Series/Report no.: 
CBM Working Papers No. WP/04/2019
Publisher: 
Central Bank of Malta, Valletta
Abstract: 
This paper makes use of a novel dataset derived from mortgage contracts granted by the major lending institutions in Malta. This contains information about house prices and a number of important property characteristics. Together with geographic and sociodemographic variables, this information allows the computation of a range of hedonic house price indices for Malta for the period 2010-2017. In general we find that growth in house prices remained relatively muted over the period 2011-2014, ranging between 1.0% and 2.0%. House prices picked-up markedly after 2015, averaging between 4.5% and 7.5%. In particular, house price growth peaked in 2017, at between 10.1% and 11.0%. Although the general evolution of the hedonic house price indices calculated in this study are broadly similar to the indices computed by the contract-based index produced by the National Statistics Office and the advertised-based index produced by the Central Bank of Malta, there are some divergences. These differences can be attributed to changes in property characteristics.
JEL: 
C4
E3
R3
R31
Document Type: 
Working Paper

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