A report in the Financial Times has highlighted Malta’s healthy property market as well as the rapidly-rising property prices, “underpinned by a strong economy and government incentives.”
The report stated that between 2000 and 2007, Malta’s house price index rose almost 80 per cent (53 per cent when adjusted for inflation), according to property data provider Global Property Guide.
“Following the financial crisis, prices were more volatile between 2009 and 2013, but have been increasing steadily over the past five years.”
Quoting two Maltese estate agents, the FT report said foreign buyers are “a growing contingent,” with expats making up a significant portion of clients – both when it comes to renting, and when it comes to buying.
The FT’s interviewees attributed part of this success to “government incentives aimed at attracting foreign buyers, most recently a citizenship-by-investment scheme called the Malta Individual Investor Programme, aimed at non-EU buyers.”
With five years in a row of record-breaking sales volumes, the article concluded by stating that demand seems set to continue at a steady pace, and the only constraint seems to be a lack of available stock.