Estate agencies have reported no change to the Marsaxlokk property market, dispelling residents’ concerns in the wake of planning approval for the contentious gas terminal at Delimara.

Three leading agents contacted by Times of Malta agreed there has been no impact yet on the property market.

However, one of them said it expected a reduction in property prices in the future.

The liquefied natural gas terminal, which will include a large floating storage unit, formed part of the Malta Environment and Planning Authority’s permit approval for a gas-fired power station last week.

During the marathon eight-hour meeting some members of the public, including Nationalist Party MPs, expressed concern about the safety of mooring a ship carrying 125,000 cubic metres of LNG inside Marsaxlokk Bay.

They also claimed that the danger presented by the vessel would have a negative impact on property prices in Marsaxlokk.

Sara Grech, chief executive and president of Engel and Völkers Sara Grech, said so far there had been no significant change in property-selling trends in Marsaxlokk.

However, Ms Grech, who is the partner of Nationalist Party MEP candidate Ray Bugeja, said the agency expected increased property selling activity at a later stage.

“We are expecting a reduction in property price levels,” she added.

Her negative outlook was not shared by other estate agents.

Douglas Salt, director at Frank Salt, said there was no movement at all for the time being and expressed doubt as to whether the LNG tanker would prompt people to move out.

His sentiment was shared by Alan Grima, a representative of Dhalia, who insisted the company had no indication as to the potential impact of the project on the property market.

ksansone@timesofmalta.com