January and February Property Sales Beat Forecasts

In a media release issued by the Malta Developers Association at the end of February, it was announced that property sales in February have exceeded all expectations, confirming the resilience of the Maltese Property Market. Despite the doom and gloom of some media quarters, the figures for February show that these have exceeded expectations and beaten all forecasts.

Malta’s favorable climate and lifestyle contribute to its growing popularity as a relocation destination, and the positive outlook is expected to continue in the coming years. Property in Malta will remain the best investment opportunity for those looking to invest in a stable and thriving market.

When one looks at the Housing in Europe Report 2022 interactive edition, one can see why Malta and the property are so attractive: –

The housing cost is comparably one of the most affordable in the European Union.

• Only Lithuania’s housing average is more affordable than Malta.
• Malta’s housing cost, compared to the other EU member states, is the most reasonable when considering all expenses, including mortgage, rent and utility bills.
• Malta’s Housing is also environmentally friendly and only countries like Sweden beats Malta in being the most efficient in the Greenhouse gas emissions for heating and cooling.
• The highest number of persons per household in the whole European Union.

When comparing 2023 vs 2022:-

• February saw a staggering 29% increase in the value of Promise of Sales
• An increase of over 85 million euro over the previous year in February
• Jan and Feb 2023 saw an increase of 153 million euro over 2022
• The first two months of the year accounted for 17% of all sales for 2022

Yet these facts and figures show the Maltese population and investors’ confidence in the Maltese property market and its resilience even through the toughest times during the Covid period.