Malta’s property market reached a historic milestone in 2024, with promise of sale agreements (konvenji) exceeding a total value of €5.1 billion. This achievement, derived from 16,739 agreements, marks an 11% increase from the €4.6 billion recorded in 2023 and a 5.5% rise from the previous record of €4.8 billion set in 2021. These figures underscore the sector’s resilience and its critical contribution to Malta’s economic growth.
The Property Malta Foundation attributes this success to several factors, including robust domestic demand, strong investor confidence, Malta’s favorable tax regime, attractive residency programs, and excellent quality of life. The foundation’s international initiatives, such as participation in global property exhibitions and targeted digital advertising campaigns, have also fueled foreign investment. Notably, international buyers accounted for approximately 15% of all property transactions in 2023, further solidifying Malta’s reputation as a premier Mediterranean property destination.
However, the growth of Malta’s property sector is not without challenges. Sandro Chetcuti, Chairperson of the Property Malta Foundation, emphasized the importance of addressing issues that could impede sustained progress. “Bureaucratic inefficiencies remain a significant hurdle, delaying processes for property development and sales. We must prioritize strategic investments in infrastructure modernization and the development of energy-efficient, sustainable buildings to ensure long-term growth,” he stated.
This record-breaking performance reflects the enduring appeal of Malta’s property market to both local and international buyers. As Malta continues to grow as a leading property destination, the sector’s role as a pillar of economic stability remains evident. By addressing inefficiencies and fostering innovation, Malta can build on its momentum and strike a balance between attracting investment and meeting the needs of its local community.
The Property Malta Foundation, a public-private initiative, remains committed to promoting Malta as the Mediterranean’s property investment hub. For more information, visit www.propertymalta.org
