A new property report by Dhalia Real Estate and Grant Thornton has revealed that property prices have doubled since 2013.
A property which would have cost €100,000 in 2013 will now cost €200,000 on the Maltese property market. Economist Daniel Gravino presented the report on Tuesday, highlighting new insights on the local housing market.
The study highlights that the highest rate of growth was noted between 2013 and 2018, with prices growing steadily in the first half of 2021. Meanwhile, rental prices have seen an increase of 42% over between 2016 and 2021. The report also suggests an increase in housing supply in the coming years, due to so many permits being issued.
With youths facing multiple financial concerns in the midst of economic uncertainty, the increase in property prices may come as a shock. For this reason, the KNŻ – Kunsill Nazzjonali taż-Żgħażagħ will be presenting ‘Youths in Housing: Analysing Perceptions and Challenges faced by Youths in the Local Housing Sector’, an event held in collaboration with the Ministry for Social and Affordable Accommodation and the Housing Authority.
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