Find Property and Real Estate expertise in Malta
The property and real estate market generated, directly and indirectly, almost 20% of Malta’s GDP in 2009, although this sector has been experiencing an indifferent period of economic performance compared to the boom in the property market between 2002 and 2005.
Between 2009 and 2010, the nominal house price index rose by 1.5%, but in fact this index dropped by 1% when adjusted by inflation. During this period, the price of terraced houses dropped by 6.5% and maisonettes lost almost 0.5% of their value. However, apartments and “other houses” gained some value, particularly “other houses”, which gained 7% of their nominal value.
Problems surrounding Malta’s property market include overbuilding and empty dwellings, as well as low rental yields. Rising tourist arrivals (from 2009 to 2011) and low transaction costs provide positive signs for this sector.
Foreigners to the European Union (EU) or EU nationals can buy a second home for a minimum price tag of at least €101,551. There are however no restrictions on EU nationals buying property as their primary residence after five years of staying in Malta. There are also no restrictions on commercial property for EU nationals.
There are many estate agents in Malta. Good central contact points are the Federation of Estate Agents in Valletta, the Federation of Overseas Property Developers, Agents and Consultants, or the Association of International Property Professionals.
|Property and Real Estate organisations in Malta|
|Perry Estate Agents||