Property prices rose by 5.5% on an annual basis between April and June 2017, after increasing 5% during the January to March period.

The Central Bank of Malta reported today in its Quarterly Review that the National Statistics Office's Property Price Index increased at a faster pace during the second quarter of 2017, based on actual transactions involving apartments, maisonettes and terraced houses.

This rate of increase remained higher than the annual growth rate registered in the eurozone, which stood at 3.8%.

“Residential property prices are being supported by a number of factors, ranging from the government scheme for first-time buyers and a low interest rate environment which makes property a more attractive asset. Buoyant labour market conditions and strong growth in disposable income, together with the rise in foreign workers and the Individual Investor Programme, also continue to lift property prices,” the CBM said.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.