At Dhalia, they recognise, that as one of the most long-established names in the local real estate industry, they have a role to play in the wider understanding and development of the property market.
Financial services firm Grant Thornton Malta and real estate agency Dhalia have joined forces to present an insightful study on the Maltese property market, which for the first time presents a factual and in-depth understanding of this major economical pillar.
Real estate often represents the single largest investment in an individual’s lifetime, as well as the largest measure of wealth in most nations’ balance sheets.
The Malta Property Landscape: A True Picture report brings together Dhalia’s high-quality data on the real estate market and the analytical expertise of Grant Thornton. The study findings were presented during an event organised at Magazino Hall in Valletta on June 28th, which saw the participation of stakeholders in the property and construction industries and local authorities.
The event was opened by Grant Thornton Partner and Head of Advisory George Vella followed by Dhalia’s Executive Chairman Chris Grech.
The two industry veterans discussed what spurred both organisations to work on this ambitious study of the property market in Malta and Gozo. The report combines different factors relating to house prices collated by Dhalia’s network of agents.
In Malta, statistics for 2021 suggest an increase in the level of activity within the market and that 79% of people are now homeowners. This showed the need for additional information from which investors, analysts, policymakers, and financial institutions alike, can follow and trust, to monitor the economic activity and flag major trends.
While there are other reports out there, both Dhalia and Grant Thornton felt that there is still a gap which is not yet covered by these publications. The quality of the underlying data on which these statistics and reports depend is critically important.
When developing this report, as are all things in the property industry, the devil’s in the detail. Comparisons of changes in house prices over the years, where no two houses are the same and the conditions of each sale are unique, require very specific data sets that undergo careful consideration of similarities and differences.
This treasure trove of information was then categorised and analysed by Grant Thornton’s data analysts with the result presenting a faithful picture of the property market, which not only takes into consideration the location of a property but also its specific features. Such methodology allowed for measuring the rate of change in the selling and rental prices of housing units in the country over time.
Grant Thornton helped refine the data collected by the Dhalia team and has developed a methodology that reflects a more elaborate and accurate analysis of the market. Coupling Dhalia’s market expertise and data from over 65,000 property transactions and thousands of data points, with Grant Thornton’s analysis, they are now publishing what they proudly consider the primary analysis for the local property market.
“This report seeks to understand the key determining factors of the property market. Without a thorough understanding of the behaviour and impact of these factors, it is highly difficult for anyone to form any meaningful insights and opinions about this extremely important industry,” commented Mr Vella.
Having timely and in-depth market intelligence on developments in the Maltese property market will enable policymakers, businesses and people investing in property to make informed choices. The full version of The Malta Property Landscape: A True Picture Report is a bi-annual publication available for purchase from www.maltapropertylandscape.mt and from Grant Thornton Malta’s and Dhalia’s websites, while an abridged version can be also downloaded.
In turbulent global economic times, where raw material costs are rising rapidly, this report is timely and more valuable than ever. From any which way you look at it, the property market is a significant indicator of a nation’s social, economic, and political history, and with this publication, Dhalia wants to document and add value to that discussion.
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