A persistent price growth across Gozo has been reported, indicating a continued price convergence between Malta and its sister island. A property market report conducted by Dar and EY analyses the latest web-based listing for residential and commercial property markets for 2021’s first quarter. Most residential property listings have maintained their asking prices, the report showed. This lead to only minimal changes in the recorded average price.
If one looks at quarter-on-quarter- price changes however, they range between -1.6% to +2% across all localities. Half of all localities registered an overall average listing price increase. The largest reductions of asking price were recorded for the Northern regions, whereas persistent price growth was seen in the Gozo property market. Terraced houses and houses of character experienced the largest number of price reductions in terms of year-on-year value changes. The pandemic could have impacted to this factor.
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Photo Source: James Villa Holidays