The recent progress in the property market Malta has become a success story for most countries. The amount of properties which are being sold and rented out both in terms of property value and property quantities.
The Property Market Growth in Malta
The market in Malta is large, but there are various factors which help boost property market Malta. The first major factor is the the foreigners. Many foreigners love visiting Malta, this helps increase the demand for construction. For example 1 Million people visit Malta in the summer, in that short period many would stay in hotels but others would look for flats for rent in Malta or apartment or even villas to rent in Malta which are extra amazing to stay in, especially during the Summer. This obviously would urge locals to invest in properties to offer short lets to these types of visitors. Malta in the recent years has had many foreign businessses setting base here, creating lots of jobs and inviting people to work in Malta, this then pushes the long let property market.
The Struggles of the Property Market in Malta
With such a high demand for property, the prices have risen forcing many first time home buyers to struggle when it comes to buying their first home. Over the years Malta’s market had the 2nd highest property value growth in the world after Singapore. Many locals are forced to take a loan from the bank in order to follow their dreams. Recently there has been more incentives for buyers to buy due to the covid-19 pandemic. Real Estate in Malta is still keeping up with the pace and going strong.
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