According to the luxury real estate consultancy JamesEdition, Malta, with an average price of a luxury waterfront three-bedroom property standing at around €635,000, ranked as more affordable than the United Arab Emirates, Canada and Montenegro, among others. The most affordable country was Ireland, where acquiring the same property would set buyers back by around €520,000, the study from Proven Partners said.
Countries included in the survey were based on Google searches related to second homes and holiday homes, with the top 20 being selected, and the report considered property prices from October listings featured on JamesEdition
According to the study, criteria including the “average price of a tasting menu at a top-rated fine dining restaurant” (€118) and the “average price for premium car hire per day” (€83) helped Malta’s affordability. Malta was also seen as attractive due to its short flight times and low air fares from the UK and its Mediterranean climate.
