Property prices went up by an impressive 8.4 per cent between October and December 2016, thanks to buoyant labour market conditions and growth in disposable income, together with the rise in foreign workers and the Individual Investor Programme - the so-called Citizenship Scheme.

The Central Bank of Malta said in its quarterly review that the increase in prices was even steeper than the 5.5 per cent recorded between June and September.

The data was based on figures published by the National Statistics Office, taken from actual transactions involving apartments, maisonettes and terraced houses.

The CBM said that the growth was being boosted by a number of other factors, including the government scheme for first-time buyers and a low interest rate environment which makes property more attractive to purchase.

 

 

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