Maltese property prices increased by 13.8% during the year to Q4 2016, based on the figures from the Central Bank of Malta. During the last quarter of 2016 property prices rose by 7.24%.
The Maltese economy remains one of Europe's fastest growing. After amazing economic growth in 2014 and 2015 of around 7.9% annually, growth slowed to 5% in 2016.
House price rises were experienced by all property types:
Apartments had a double digit price increase of 15.86% during the year to Q4 2016. When adjusted for inflation, prices were up by 14.99%.
Terrace houses saw a 13.33% y-o-y price hike.
Maisonettes experienced the highest price surge, rising by 20.42%
"Other houses", consisting of townhouses, houses of character and villas, however, had a relatively low growth of around 1.96% y-o-y.
Maltese property has been on the upswing for the past three years. These latest price rises were attributed by the central bank above all to the Individual Investor Programme and to the stamp duty exemption for first-time buyers.
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