Property prices in Malta have registered the third highest increase in the entire EU for the last quarter of 2018.
Eurostat figures show how prices in Malta jumped up by 3.8% when compared to the previous quarter. The highest increases were recorded in Slovenia (+6.5%) and Latvia (+4.3%)
Overall, Maltese properties increased by 6.2% over the course of 2018, above the EU average of 4.2%
This, however, does not spell for a bad reading when compared to other EU countries. Slovenia (+18.2%), Latvia (+11.8%) and Czechia (+9.9%) all recorded substantial increases over the entire year.
The increase is also unclear given that industry sources have claimed that the sector has experienced a noticeable slow-down in the last couple of months, mostly driven by buyers were starting to become hesitant to an over-priced market.
In fact, Lovin Malta recently detailed how listed prices by real estate agencies had increased by almost 50% since the start of 2016
The discrepancy between listed prices and sale prices does seem to support the idea that some real estate agents or landlords are severely overvaluing their prices when putting properties on the market.