Residential Property Price Index (RPPI): Q1/2025
During the first quarter of 2025, the Residential Property Price Index (RPPI) stood at 169.09, an annual rise of 5.7 per cent when compared to the corresponding quarter of 2024.
In the period under review, the Apartments Price Index and the Maisonettes Price Index stood at 168.67 and 162.06, registering annual increases of 5.3 per cent and 6.2 per cent, respectively (Tables 1 and 2).
Compared with the fourth quarter of 2024, the RPPI registered a quarterly increase of 1.5 per cent.
Chart 1. RPPI - Annual price changes
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Methodological Notes
1. The RPPI is based on data provided by the tax authority.
2. The RPPI aggregates the indices of apartments, maisonettes and houses using a Laspeyres-type formula. The weights used to compile the index are based on the value of transactions for the three property types. Moreover, the RPPI is chain-linked every year. This enables the revision of weights on an annual basis.
3. It is widely recognised that the price of a property is dependent on its location, type, state of maintenance and finish, age, tenure, the number of bedrooms and bathrooms, size, and the availability of other amenities such as a yard, garden and pool. Since the characteristics of the properties transacted are likely to vary between periods, a methodology that accounts for such differences could be employed to ensure even greater comparability across periods. From Q1/2023 a quality-adjusted index is being compiled using the rolling time dummy method. More information about this methodological change can be accessed here.
4. In order to provide a more comprehensive picture of the housing market, house sales indicators are also provided to Eurostat. The house sales indicators refer to the total number and value of dwellings transacted at national level where the purchaser is a household, partitioned into new and existing dwellings. These indicators are based on information available from the same source as used for prices and weights. Eurostat publishes in its database a quarterly and annual house sales index, quarterly and annual rates of change as well as the number of transacted dwellings and their value in national currency. These indicators can be accessed here.
The RPPI and the House Sales Indicators follow the same metadata which can be accessed here.
These two projects listed in notes 3 and 4 were part of grant SMP-ESS-2022-RES-IBA – Real Estate Statistics, aimed at improving the Residential Property Indicators.
5. No distinction is made between new and old dwellings.
6. The number of residential property transactions that are considered in every quarter is around 1,400.
Apartment: a self-contained room or suite of rooms with a separate entrance that is accessible from a common passage, landing or stairway. This category includes penthouses.
Maisonette: a self-contained room or suite of rooms with a separate entrance that is accessible from the street and is either at ground-floor level with overlying habitation, or at first-floor level with underlying habitation. A ground-floor maisonette may be classified either as a ground-floor tenement without its own airspace or as a maisonette. This category also includes solitary maisonettes.
House: a dwelling with at least two floors, with its own access at street level, with its own airspace and no underlying structures that are not part of the house itself. This category also includes: Bungalows, Farmhouses and Villas.
Annual rate: The annual rate of change compares the index of a particular quarter to the index of the same quarter in the previous year, expressed as a percentage.
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Statistical concepts
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Residential Property Price Index (RPPI): Q1/2025
- During the first quarter of 2025, the RPPI stood at 169.09, a rise of 5.7 per cent when compared to the corresponding quarter of 2024.
- In the period under review, the RPPI registered a quarterly increase of 1.5 per cent, when compared to the fourth quarter of 2024.
