- Wednesday, August 24, 2016
Surging Property Prices In Malta
Maltese property prices rose 10.03% (8.53% inflation-adjusted) during the year to Q4 2015, according to the Central Bank of Malta (CBM). During the latest quarter, property prices increased by 5.92% (8.86% inflation-adjusted) in Q4 2015.
The price hikes were felt across all property types:
- Apartments saw a 7.32% nominal price increase over the year to Q4 2015, or 5.85% when adjusted for inflation.
- Terrace houses had the highest price increase of 17.86% during the year to Q4 2015 (16.25% inflation-adjusted).
- Maisonettes also posted a double digit price rises of around 15.21% y-o-y in Q4 2015 (13.63% inflation-adjusted).
- “Other houses”, consisting of townhouses, houses of character and villas, increased by 7.96% y-o-y in Q4 2015 (6.49% inflation-adjusted).
The central bank attributed the upward price trend partly to the government measures aiming to support property demand. This includes the Individual Investor Programme, introduced in the government’s November 2013 budget, which targets high net worth individuals.
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