Malta House Prices Falling Again
06 September 2011
Malta house prices fell 2.6% in the first quarter according to the latest data from the country's central bank in its advertised residential property price index.
House prices on the island have now been falling for the last six months, and the fall is being blamed on steep decline in the prices of terraced houses and villas which fell by 6.1% and 12.8% respectively during the period -- townhouses are grouped with villas in the index.
The report also shows a 10% drop in the number of homes on the market in Malta in March 2011 compared to March 2010. On the positive side apartment prices climbed 1% during the period, and there was a 25% increase in building permits recorded by the Environment and Planning Authority -- the majority of the permits were for apartments.