Relative Apartment Price Levels by Locality
Cut-off Date: 04 May 2026
Introduction
This publication presents annual estimates of the relative price levels of apartments across localities in Malta and Gozo, derived from quality-adjusted estimates of apartment prices per square metre. The estimates are based on actual property transactions and account for differences in apartment characteristics using a hedonic modelling approach. Penthouses are excluded from the analysis.
For each reference year, a weighted national average price per square metre for Malta and Gozo combined is estimated and assigned a value of 100. The estimated price per square metre for each locality is then expressed relative to this national average to derive the corresponding relative price level.
A price level value of 120 indicates that the estimated apartment price per square metre in a locality is 20 per cent higher than the national average for that year. Conversely, a price level value of 80 indicates that it is 20 per cent lower than the national average. These estimates therefore provide a comparable measure of relative price levels of apartments across localities within the same reference year.
To assist users in interpreting the results, a variability category is assigned to each locality to indicate the degree of variation surrounding the estimated price per square metre, based on the standard deviation. Locality-level estimates are suppressed where the number of transactions used in the estimation falls below the publication threshold.
These estimates have been compiled on an ad hoc basis using methodological principles aligned with the Residential Property Price Index (RPPI). Although they draw on selected aspects of the RPPI methodology, they constitute a separate statistical output and are therefore not directly comparable with the published RPPI Apartments Index. Unlike the RPPI, which measures price changes relative to a fixed base year, these estimates express the relative price level of each locality in relation to the national average within the same reference year.
Further details on the methodology used to produce these estimates are provided in Methodological Notes 2 and 3.
Commentary
During 2025, the highest levels were recorded in the following localities: Tas-Sliema (160.98) and San Ġiljan (157.43) (Table 1, Chart 1).
On the other hand, the lowest recorded price levels in 2025 were observed in Ix-Xewkija (57.14) and Ta’ Sannat (62.74).
For 2025, the price levels for apartments in Malta, and Gozo and Comino were 103.55 and 68.01, respectively. Apartment price levels in Malta are generally more than 30 per cent higher than those in Gozo and Comino (Table 2).
Methodological Notes
- This publication presents annual relative apartment price levels (excluding penthouses) by locality based on transactions data provided by the Malta Tax and Customs Authority (MTCA), which illustrates apartment price per square metre levels by locality, based on the date of deed. This property type represents the most significant segment of the real estate market.
- This insight adopts aspects of the Residential Property Price Index (RPPI) and the Residential Property Transactions (RPT) news releases methodology, but methodological differences remain, and the resulting figures are not directly comparable. The Apartments Index published in the RPPI covers all apartments and includes penthouses as well, while this analysis excludes penthouses. The estimates here constitute levels relative to the average within each reference year while an index sets a fixed base year for comparison.
- A hedonic regression model was used to estimate quality-adjusted prices per square metre. This means the estimates were produced adjusting for property characteristics. Descriptive statistics were used to identify the most representative apartment size. Hedonic estimated prices per square metre were then calculated for this particular size category to produce the representative price level for each locality.
- The localities and regions correspond to the location of the property which has been purchased, not to the place of residence of the buyer or seller. Locality-level estimates are suppressed as corresponding counts are either too low or the locality’s ranking is unstable over the years.
- A variability category is assigned to each locality to reflect the extent of variation around the estimated price per square metre, based on the standard deviation. For each year, localities are ranked in descending order according to their estimated price levels. All price level indices are rounded to two decimal places.
- Source data is provisional and subject to revisions for 2025.
- Definitions:
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 excludes penthouses.
Price Level: It provides a measure of price differences in apartments across localities, indicating how it compares to the national average price level of each year. A price level value of 120 indicates that the estimated price level in the locality is 20 per cent higher than the national average for that year. Conversely, a price level of 80 indicates an estimated price level that is 20 per cent lower than the national average.
Quality-adjusted price: It is derived using a hedonic regression model that accounts for differences in the physical characteristics of apartments within the same year, by taking into account the different physical features, such as the location, state of maintenance and finish, size and lift (amongst others). By controlling for the physical attributes, the estimated price reflects the value of a homogenous/standardised apartment within the same year, enabling consistent comparisons across localities.
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- This publication presents annual relative apartment price levels (excluding penthouses) by locality based on transactions data provided by the Malta Tax and Customs Authority (MTCA), which illustrates apartment price per square metre levels by locality, based on the date of deed. This property type represents the most significant segment of the real estate market.
