PwC Malta releases fourth edition of Property Barometer revealing shift towards property rentals

Apr 11 2023

PwC Malta has released the fourth edition of its Property Barometer, which analyses the current local sentiment towards local real estate demand preferences and key trends. The survey was carried out between Q4 2022 and Q1 2023 by means of an online survey, targeting the total population residing on the Maltese Islands, garnering 405 responses. This edition focused on topics relating to purchasing and rental preferences, sources of financing, regulatory developments, sustainability considerations, sentiments towards real estate agents, and available information on the market.

One of the key trends observed during the fourth run is a shift in demand for property sales to rentals. The survey found that demand for property rentals increased to 31% in Q1 2023, up from 12% in Q1 2022, while it fell for property sales, dropping to 42% in Q1 2023, from 51% in Q1 2022. The results of this edition registered the highest demand for property rentals and the lowest for property purchases out of all the barometer editions carried out to date.

These public sentiments seem to echo secondary market data. Data published by the National Statistics Office (NSO) indicated that, during 2022, the number of promise of sale agreements relating to individual buyers of residential property amounted to 11,083, a 22% decrease when compared to those registered in the previous year. Based on data reported in the Housing Authority’s latest Annual Malta Residential Rental Study, by the end of 2021, the rental register comprised almost 38,000 active contracts, representing an increase over the prior year.

A movement between different brackets of property values was also observed in this survey, as respondents shifted towards the lower end of the price spectrum, namely from properties valued above €400,000 to those between €200,000 and €400,000.

The Property Barometer also analysed sources of financing and regulatory developments in the local real estate market, as well as sustainability considerations, sentiments towards real estate agents and available information on the market.

According to the report, the shift in demand for property rentals may be attributed to several factors, including uncertainty surrounding the COVID-19 pandemic, increased flexibility in remote work arrangements, and the desire for more affordable housing options.

PwC Malta cautions that it is yet to assess whether this shift from residential property sales to property rentals is a long-term trend. The report urges stakeholders to continue monitoring the market and adapting to changing consumer preferences.

The Property Barometer provides valuable insights into the current state of the Maltese real estate market, allowing stakeholders to make informed decisions and develop effective strategies for the future.

#MaltaDaily

Study confirms men exaggerate height and penis size

Apr 11 2023

A recent study has confirmed what many people have suspected for some time: men tend to exaggerate the size of their height and penis.

The research, published in the journal Frontiers in Psychology, focused on self-reported measurements of height, weight, athleticism, and penis size.

The study found that men tended to report bodily markers that were above the population mean, with the exception of weight.

Height and penis size were the most exaggerated, with self-reported penis size being 21.1% above the wider Danish population mean.

The researchers also found that men who were offered a lower monetary reward were more likely to exaggerate their penis size than those who were offered a higher reward.

The researchers chose bodily markers like height, weight, and penis size because they are linked to masculinity.

The team also noted that men often exaggerate their height on dating sites in order to improve their chances in the mating market.

The study’s authors cautioned that studies relying on men’s self-reported measurements of bodily markers should be interpreted with great caution.

They suggested that men may be more inclined to lie about their penis size than their height, weight, or athleticism, as the penis is typically concealed and therefore easier to lie about without getting caught in everyday interactions.

#MaltaDaily

Nobel Prize winner Dalai Lama faces backlash for kissing a child on the mouth

Apr 11 2023

The Dalai Lama, who up until this point was one of the world’s most respected spiritual leaders, has been embroiled in controversy following the circulation of a viral video in which he is seen kissing a young boy on the mouth and asking him to “suck his tongue.”

The video, was filmed in February but only went viral in the past few hours, causing a widespread outrage and condemnation.

In response to the backlash, the Dalai Lama’s office issued a statement apologising for the incident and explaining that the kiss was meant to be innocent and playful.

The statement reads: “His holiness wishes to apologise to the boy and his family as well as his many friends across the world, for the hurt his words may have caused. His holiness often teases people he meets in an innocent and playful way, even in public and before cameras. He regrets the incident.”

#MaltaDaily

Which is the safest seat to have on an airplane in case of a crash?

Apr 11 2023

Air travel is considered one of the safest modes of transportation, but it is understandable to have concerns about safety when flying.

One common question that many people ask is which is the safest seat to have on an airplane in case of a crash.

While there is no definitive answer, there are some factors to consider that can help you make an informed decision.

Firstly, it’s important to understand that the chances of being involved in a plane crash are very low.

According to the National Transportation Safety Board, the odds of dying in a plane crash are approximately one in 11 million. However, if a crash were to occur, there are some things to consider when choosing a seat.

Many experts believe that the seats located in the rear of the plane may be safer in the event of a crash. In particular, the seats located in the last few rows of the plane may offer a higher chance of survival. This is because these seats are located closer to the rear exits, which may be easier to access in an emergency.

Another factor to consider is the type of plane you are flying on. For example, in a smaller regional jet with only one aisle, the seats located at the front of the plane may be safer as they are closer to the exit. However, on a larger plane with multiple aisles, the seats located at the rear may offer a better chance of survival.

It’s also important to consider the type of impact that the plane may experience in a crash. In the event of a crash landing or a runway overrun, the seats located towards the front of the plane may offer a better chance of survival. However, in the event of a mid-air collision or a loss of control, the seats located towards the rear may be safer.

Ultimately, the most important factor in surviving a plane crash is to follow the safety instructions provided by the flight crew. This includes wearing your seatbelt at all times, keeping your seat in the upright position during takeoff and landing, and paying attention to the safety briefing before takeoff.

#MaltaDaily