An ever-present talking point in Malta, the construction boom has seen property prices rise rapidly in a relatively short space of time. However, reports of a slowdown in the sector may have some basis after all, with the country recording the largest property price decrease in the entire EU.
Between the last three months of 2018 and the first three months of 2019, property prices have dropped by 4.2%… significantly higher than other countries with a recorded decrease, such as the United Kingdom (-1.3%), Ireland (-1.0%), Finland (-0.8%), Italy (-0.5%) and Germany (-0.3%).
This figure, however, doesn’t tell the whole story, with property prices actually being 6.5% higher compared with the same quarter of the previous year.
It could also be suggested that Malta’s property market is, in fact, experiencing massive fluctuations. For the last quarter of 2018, property prices in the country recorded the third largest increase in the EU.
This may be due to the massive discrepancies between listed prices and sale prices, with Lovin Malta recently detailing how listed prices by real estate agencies had increased by almost 50% since the start of 2016.
What do you make of these latest figures?
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