Malta Property Prices 2022
Malta Property Prices 2022
It is common knowledge that property prices are hugely dependent on the property type, its location, finish, age, the number of bedrooms and bathrooms, size, and the availability of amenities such as a backyard, garden, pool, and even air conditioning. And Malta is no exeption when it comes to property prices.
As times change and years go by, you can also expect the characteristics of a property to change including its building design, and the level of luxury it offers. Hence, we conclude that property prices can mostly be expected to increase as years go by.
Malta Property Price Trends and Statistics in 2022
However, that's not all prices depend on. Market demand is also an integral part of how property prices go up and down. According to the recent data from Census and Economic Information Centre (CEIC), Malta property prices rose 1.8% YoY in Mar 2022. This is quite low compared to a considerable increase of 6.7% YoY in the previous quarter. Similarly, according to the National Statistics Office, the total number of final deeds of sale relating to residential properties decreased from 1285 in March 2021 to 1165 in March 2022, recording a 9.3% decrease. At the end of the previous quarter, however, the final deeds increased from 1,134 in December 2020 to 1,390 in December 2021 recording a 22.6% increase. This proves how the Malta property prices and Malta's real estate market demand have an effect on each other.
Property Price Index Malta
Property Price Index (PPI) is a data compiled on a quarterly basis which shows the price changes of purchased residential properties in Malta including apartments, maisonettes, and terraced houses.
Malta Property Price Indexed 2021 data
Recent report published by the National Statistics Office shows the Malta Property Price Index for Q1 of 2021 amounting to 130.92, as illustrated in the Malta Property Prices Graph. Compared to the same quarter of the previous year standing at 125.14, the PPI experienced a rise of 4.7%. This is slightly low compared to the 5.5% increase in PPI from Q1 of 2019 to Q1 of 2020. Stats from Trading Economics show that compared to the same quarters of 2020, Malta Property Price Index experienced a rise of 5.9%, 6.2%, and 4.5% in Q2, Q3, and Q4 of 2021, respectively. The same data also proves that aside from annual rise, Malta’s Property Price Index in 2021 also had a steady increase on a quarterly basis. Based on the data published by the Central Bank of Malta, Malta Property Price Index showed a 2.7% annual increase in Q1 of 2022.
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Malta Apartment Prices Increase in 2022
Malta Property Price Index increased in the first quarter of 2021 and the largest contributor to this increase was the Apartment Price Index which went up by 6.2% compared to Q1 of 2020 (NSO). This was also a higher annual increase for Malta Apartment Price index compared to that between 2019 and 2020. According to the CBoM, the apartment price index had an annual increase of 0.4% in the first quarter of 2022. In Malta, a 3 bedroom apartment could approximately cost you from €140,000 to €400,000. The prices can surpass this range if you’re aiming for an extravagantly luxurious apartment.
Average house price Malta in 2022
The data published by CboM indicates that the first quarter of 2022 saw an annual decrease of 1.9% in Malta’s Terraced House Price Index, which isn't too promising compared to the 1.1% increase observed from 2020 to 2021. Average 3-bedroom house prices in Malta could roughly start from €350,000, and could increase depending on the location and size.
Malta property price per square meter
Property prices per meter square in Malta depend on multiple factors. Proximity of the property to the city centre is one of them. If your property is within the city centre, it will cost more compared to if it's out of or away from the centre. Cities like Sliema and St.Julians in the North Harbour region known for the urban lifestyle offer properties for higher prices which can range from €2,900 to €8,000 per square meter. Property prices in outer areas like Gzira can range from €1,800 to €3,500 per square meter. Property prices per square meter are the cheapest in Gozo.
Our Services – Arcus Real Estate Agents
Arcus Real Estate Agents have experts who share their Malta property market knowledge with clients without withholding any relevant information. At Arcus estates, we pay attention to the buyer’s requirements and budget, accordingly presenting them with property options. Our services also include advising interested buyers on stable investment opportunities in Malta with guaranteed returns.
Contact us to find properties in Malta within your budget, or for investment opportunites.
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