Malta has surpassed Hong Kong for the first time as prices for property in Malta surged 16.9% in Q2 in the global home price rankings for residential property prices. This is according to the Knight Frank Global House Price Index, where they compare the performance of mainstream residential markets across the world, using government statistics or Central Bank data
Based on figures taken from Malta’s own Central Bank, home prices on the island rose some 17% in the 3 months to June when compared to the same period in 2017.
Malta Developers Association president Sandro Chetcuti has maintained that the facts show there has been an increase in property prices across the board
According to Knight Frank “Our analysis confirms that whilst fewer countries and territories are seeing a decline in house prices, where prices are rising, they are rising at a more moderate pace,” said Kate Everett-Allan, a researcher for Knight Frank. “The rising cost of finance, an uncertain political and economic climate and currency instability in some markets is likely to be tempering demand.”