A recent in-depth independent survey conducted by Esprimi and commissioned by Remax Malta has found that 59.8 per cent of respondents believe the local real estate market is stronger in 2018 than it was in 2017. Beyond that, the survey also found that 31.8 per cent of those interviewed believe this is the right time to purchase property in Malta.

“These results are consistent with our regular quarterly surveys and highlight the fact that the public feel the positivity in the market,” said Remax Malta CEO Kevin Buttigieg.

“There will always be the small percentage of the public that are overly conservative. As a leading real estate company, we believe it is our duty to stay ahead of the trends and tendencies in the market, and to know the very latest information so that we can pass it onto our clients,” he added.

“This latest survey highlights the fact that the real estate sector on the island is continuing to go from strength to strength, with belief in it remaining strong. Most Maltese are still looking to buy property, and many believe now is the right time to do so.”

The Esprimi survey, which was conducted using computer aided telephone interviewing techniques and interviewed 500 respondents aged 18 or over, used a sample that was representative of the general population. The respondents were made up of an equal mix of men and women, from across all the regions in Malta, and from across a variety of age groups and socio-economic categories.

It is our duty to stay ahead of the trends

Among the variety of interesting statistics that it unearthed, the survey also found that over 56 per cent of those interviewed consider the property market in Malta to be stable, while those that don’t cite overdevelopment and the high number of empty properties as reasons why it might not be secure.

Nevertheless, property ownership certainly ranked top as an investment, especially when compared to other possible options including stocks, shares, savings and fixed accounts.

“Locally, there is no doubt that property remains one of the top investment options for those eager to see their money increase,” Mr Buttigieg continued. “Rental properties still generate around six per cent per annum, which can provide investors with a much healthier return than the other alternatives available to them. There is an excellent range of investment properties and rental homes available at the moment, with many more expected to come onto the market in the coming months.”

Kevin Buttigieg

The survey also questioned perceptions of the real estate market, and asked respondents if they had dealt with property agents in the past five years. Of those that had, there were some suggestions for improvement, including suggestions for agents to be more in tune with clients’ needs, to build trust, to provide better information about properties, and to be more qualified.

“Generally, the survey found that agents were perceived in a positive light but are considered to be commission-driven, which is an understandable trait within the sector,” Mr Buttigieg continued. 

“However, at Remax we are well aware of the perception of real estate agencies on the island and regularly commission these surveys to help us understand the general market needs so that we can adjust our training and strategies to align and improve. In fact, over the next 12 months we will be rolling out a service standard to the general public in line with our commitment to the industry.”

Finally, Mr Buttigieg said he was also pleased with the survey results that found Remax Malta to be the best-known real estate brand on the island, with 65.2 per cent of respondents citing it as the agency that comes to mind first.

“We very proud of our leading position in the market, and pleased that potential buyers, sellers, landlords and renters think of us when they are considering which agency to work with.”

For further information about Remax Malta and detailed results of this survey, visit https://remx.co/real-estate-market-06-18 .