Real estate in Malta continues to rise in price, but at a slower pace

Prices for apartments and houses in Malta continue to rise, albeit at a slower pace. This is happening against the background of an increase in the number of transactions. Sales are active due to consistently high domestic demand, a record number of tourists and an influx of foreign workers into the country.The Maltese Citizenship by Investment program has also played a role in generating demand for local real estate.

Housing prices in the 2nd quarter of 2024 rose by 3.38% (+1.17% adjusted for inflation) year-on-year. This was preceded by an increase of 6.72% in the 1st quarter of 2024, 7.54% in the 4th quarter of 2023, 6.82% in the 3rd quarter of 2024, 8.3% in the 2nd quarter of 2023 and 10.51% in the 1st quarter of 2023. These are the data of the Central Bank of Malta. 

Before the COVID-19 pandemic, real estate prices in Malta were constantly rising, increasing from 2012 to 2019 by a total of 75% (62% adjusted for inflation).

In 2020, prices decreased by 2.4% (-2.58% adjusted for inflation) due to falling demand caused by restrictions related to the pandemic. Since 2021, they have gone up again: +6.94 (4.73 adjusted for inflation) in 2021; +2.71% (-4.26% adjusted for inflation) in 2022; +7.54% (3.71% adjusted for inflation) in 2023.

Home sales are also going up. After falling by 15.3% last year, they grew by 4.5% in the first three quarters of 2024.

Source: Global Property Guide