Houses for sale in Malta, its like a permanent travel tour
Maltese property prices surged by 13.8% (12.95% inflation-adjusted) during the year to Q4 2016, based on the figures from the Central Bank of Malta (CBM). During the last quarter of 2016 property prices rose by 7.24% (10.44% inflation-adjusted).
The Maltese economy remains one of Europe’s fastest growing. After amazing economic growth in 2014 and 2015 of around 7.9% annually, growth slowed to 5% in 2016.
House price rises were experienced by all property types:
Apartments had a double digit price increase of 15.86% during the year to Q4 2016. When adjusted for inflation, prices were up by 14.99%.
Terrace houses saw a 13.33% y-o-y (12.48 inflation-adjusted) price hike in Q4 2016.
Maisonettes experienced the highest price surge, rising by 20.42% (19.51% inflation-adjusted) over the year to Q4 2016.
“Other houses”, consisting of townhouses, houses of character and villas, however, had a relatively low growth of around 1.96% y-o-y (1.20% inflation-adjusted) in Q4 2016.
Establishing a budget and crunching the figures is critical when buying an investment property in Malta. Planning and organisation are key, and failing to do so can result in some serious consequences. Cash flow or bank loans are indeed needed for an effective investment property strategy, so you better make sure that you’re doing it right.
Being able to afford long-term repayments is another factor that you must take into consideration, mainly because there is no guarantee that tenants will always be living in your property in Malta. Every now and again, when lease contracts expire, your Malta property may become a pretty lonely place until you find new tenants. Therefore, while you are not generating any form of income from your investment property in Malta, you may want to get your finances in order, just to keep things safe.
Houses for sale in Malta, viewing properties :
Once you have found a property that catches your eye, you can request any extra information that you may require directly from the listing agent. Although we work hard to keep our website up to date with descriptions, pictures and plans where possible, we still recommend speaking to the agent to have a chat about the property and book a viewing if it meets your criteria. You never know, the agent may know of a good deal which you haven’t come across yet and be able to give you further recommendations.
When actually viewing the property, we recommend taking a notepad and pen, a tape measure and a camera. By taking these few things with you, you can write notes, take pictures (with the owner’s and agent’s consent) and measure places to see if your furniture will fit. Looking back at your notes and pictures will usually help you when you’re back home trying to make decisions.