The Central Bank of Malta established that property prices in the first quarter of 2012 have increased by 5.5%. This increase and a previous increase of 3.1% was mainly due to the variety of developments occurring within the real estate industry, particularly luxury apartments.
The Central Bank of Malta established that property prices in the first quarter of 2012 have increased by 5.5%. This increase and a previous increase of 3.1% was mainly due to the variety of developments occurring within the real estate industry, particularly luxury apartments. High end luxurious apartments alone have experienced an increase in value of 8.7% in comparison to past years.
Moreover, according to the NSO Property Price Index, properties used for residential purposes have increased in value by 1.6% in the first quarter of the year, in comparison to the decrease of 1.4% in 2011.
These results are truly encouraging when one considers the slump in the European property markets. These results also augur well for both locals and foreigners who have invested in the sector and who are now benefitting an appreciation of their investment.
