Sept. 19, 2016
According to the Central Bank, for the period from 2013 to 2016 property prices in Malta have risen by 24.8%. And from 2001 to 2015, the cost per square meter increased by 67.2%.
In 2004 Malta became a EU member. During the period from 2003 to 2008, prices rose by 34.6%. The economic crisis has only slightly affected the country. While in other European countries housing is rapidly and sharply devalued, in Malta from 2008 to 2013 the decline was only 0.2%. In 2014, the Maltese real estate market has made a huge breakthrough, - to foreign buyers were sold 208 objects for an overall amount of €70.7 million
However, the sharp rise in prices of apartments and houses in Malta over the last 15 years has not been accompanied by sufficient growth in wages. From 2013 to 2015 housing rose in price by 15.4%, while wages increased by 8.87%.
Based on the materials of maltatoday.com.mt