Maltese property prices continuing to rise

Prices of Maltese property are currently on an upward trend and showing no signs of easing, according to overseas property agents Tribune Properties.

The prices of property in Malta were reportedly the highest of all EU members in 2004 and have continued to increase since then, with government figures showing that a sixteen per cent rise took place in the year to March 2006.

Demand for Maltese property is high in various areas, according to Tribune Properties, with the UK, the US and Australia among the most significant sources of interest.

An additional ten per cent increase in demand is predicted over the coming year, driving up prices further and possibly creating more interest for investors.

Roger Munns, managing director of Tribune, said: “We normally see a drop off in enquiries, a few months before any price levelling.

“But demand for Malta this year is every bit as strong as 2005 and at the moment we can only see prices going one way in the short term at least – and that’s up.”

However, there was a negative side to the matter pointed out by Tribune – that the booming property market could lead to some of the picturesque land on the island being overrun by construction sites and building work – hence posing a problem to the tourism industry.

This could consequently create a future challenge to the property market, as Tribune points out that “today’s tourist is often tomorrow’s property buyer”.

Looking to buy or invest in Maltese property? Then keep up to date with the latest news and other information on <A href=””></A>

Compare listings