Malta Property Prices To Hold
News Posted On: 03 February 2011
According to Keith Pillow, chief executive officer of Duplex Real Estate Branding, Malta property is unlikely to experience a drop in prices like so many other areas of the world. Pillow believes that prices will remain above the current amounts for perhaps ten years or so.
Agreeing with Pillow is Trafford Busuttil, president of the Federation of Estate Agents. After reviewing the property market data, Busuttil stated that the property market will not experience a dip such as the one that the UK has seen, which has seen drops in prices month after month.
It has been reported that house prices in the region are improving more than anticipated. This report comes from a recent survey from the Royal Institution of Chartered Surveyors. In some areas though, it is difficult to gauge the market holistically because in some areas the values may be increasing and in other areas prices could be decreasing.
In Malta, an increase of 0.38 percent was recorded in the first quarter of 2010 according to the National Statistics Office. The low interest rates attract buyers locally and abroad as well and investors see the opportunity for property investments. Busuttil believes that now is the time to invest in real estate in Malta, as home prices are expected to steadily increase in the future.
Areas such as St. Julians and Sliema are the most popular areas for buyers currently in Malta. As a recognized international property destination, it seems as if Malta will indeed experience some property market growth this year.
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