At the moment properties are the most affordable at the South of Malta, however the price trends are following an upward trend. The growth per square meter has moved from Eur1100.00 in 2013 to Eur1260.00 in 2016.
The government's commitment to pay more attention to the south of Malta has unlocked the area's growing popularity. Planned infrastructural projects and announced investments are attracting more and more interest in properties in the area.
The influx of foreigners working and studying in Malta has increased interest in properties close to workplaces and schools, such as SmartCity Malta, MCAST, and the airport region, amongst others. This has pushed investors towards rental properties in the surrounding areas. The ferry linking Valletta and the Three Cities has also encouraged those working in Valletta to settle in one of the Three Cities, as it is the fastest route to arrive at the capital city.
Right now, demand is high for all types of properties, in both sales and letting. In fact, Realtors are experiencing the highest levels of demand for the southern region in the past 15 years.
The recent interest in the South has also brought about a higher demand for commercial property. Investors are noticing the dramatic improvement and interest in these areas, so this is bringing about more commercial activity. Catering establishments still top the list but and areas like Paola and Fgura are attracting big brand names, thus increasing the demand for and value of commercial outlets in these areas.
The letting market has changed dramatically. Around three years ago, it used to be possible to find rental properties as low as €250 per month, but now prices have increased drastically.
In recent years Maltese buyers are moving in from outside the region. Due to the saturation of the market in areas such as Sliema and St Julian's, developments in the southern areas have mushroomed.
Prices of properties in southern localities also vary according to locality. Although there is still a gap between the South and the central areas, prices of properties have recently increased. The Three Cities, for instance, are now a sought after area especially for investment opportunities. Demand has increased so prices will also increase, however the southern locations are still affordable for the average buyer. With many projects focused on the southern localities - such as the completed Dock 1 regeneration, the American University of Malta, the hospital in the SmartCity Malta campus and the planned Marsa flyover – it is expected the area to continue gaining popularity.
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