With spring just around the corner, Homes of Quality’s property professionals are gearing up for what promises to be a continuation of a very exciting and busy start of year.
Prolonged efforts are being made to extend the encouragement of stimulating foreign investment in all sectors of industry, including real estate and one of the main attractions to investors, as always, is the country’s strong and stable economy even in turbulent times. As reported in national newspapers, in 2022 the amount of final deeds being signed was just shy of that in the same period the year before. Interestingly (and possibly more importantly) is the fact that the value of sales however increased by a healthy 4.5% in 2022, once again reflecting sentiment that the value of property always goes up, making it a proven long-term investment.
There was mention earlier in the year of possible interest rate hikes, but at this stage
Malta’s biggest banking group stated they had no plans for the near future to raise interest rates. This is extremely encouraging news for home buyers and property investors. In this positive spirit, during the last quarter for 2022 the general prices for properties were also up by 5.3%. Heading well into 2023 by now, we feel the market has stabilised and that properties offered for sale will reflect more long-term realistic asking prices after the unprecedented boom of the past few years. This will set the tone for a healthy and active local property market where both buyers and sellers can feel safe and assured by steady long-term growth in the capital appreciation of their investments. Also of further re-assurance is that fact that Maltese nationals still represent the majority of the buyer share of the market, indicating that there is strong trust in the property market and that even if FDI slows down, property prices will see little impact as a result.
In conclusion, we’ve had outstanding sales the past few months in all price ranges, even during the heavy downpours of winter. With the arrival of spring comes a renewed optimism and we can’t wait to share our latest listings with you. Viewing properties in bright and sunny conditions helps one better appreciate what the property has to offer.
As specialists in all homes of special significance, we at Homes of Quality invite you to visit our website and property for sale section to see some of these exceptional and exciting homes. Also, should you wish to list your property with us or request a no-obligation valuation, our team will be happy to assist.