Residential property prices rose in the second quarter of this year, the Central Bank has reported.

It said that its ongoing index recorded a rise in residential property prices of 1.1% which followed a drop of 0.6% in the previous quarter.

The situation, however, was not uniform among the various categories of properties.

While maisonette and apartment prices increased, prices of terraced houses, town houses, houses of character and villas, dropped.

Apartments, which made up almost three-fifths of properties in the sample, rose by 2.2%.

This reversed the 2.4% fall in apartment prices in the first quarter of the year.

Asking prices of maisonettes increased at a faster rate when compared with the first quarter of 2013.

Between March and June 2013, they rose by 15.5%, a much higher rate of growth than the 2.3% registered in the first quarter.

On the other hand, prices for terraced houses declined by 2.6%, after a rise of 4.1% in the previous quarter.

In the second quarter of the year, after seven months of decline, the number of advertised properties increased, going up by 0.3% on a year earlier after a 12.4% drop in the first quarter.

The rise mirrored significant increases in adverts for maisonettes and houses of character, which outweighed a fall in the number of apartments advertised, The Central Bank said.

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