VALLETTA (MALTA) (ITALPRESS/MNA) – The value of Malta’s housing stock has almost tripled in 10 years, climbing from €30 billion in 2014 to €88 billion in 2024, new data from the National Statistics Office (NSO) shows. The surge was driven largely by rising land prices, which have outpaced construction costs. Land values jumped by €49.1 billion—up 200%—to €73.7 billion, while construction costs rose by €9 billion, or 160%, to €14.6 billion. According to the NSO, land scarcity, strong demand for central locations and speculative investment were key factors. Today, land accounts for 83% of a dwelling’s value, compared to less than two-thirds three decades ago.
The report also marks a historic shift in the housing market. Apartments, collectively valued at €39.5 billion, have overtaken townhouses (€33.2 billion) in total worth for the first time. While apartments now outnumber townhouses nearly three to one, the latter had long been Malta’s most valuable housing type. The NSO linked the rise in property values to population growth, higher labour and material costs, and a surge in construction. It also cited policy changes since 2017, increased immigration, and the rise of short-term rentals as key demand drivers. The analysis further pointed to Malta’s post-EU accession building boom, with both public and private projects fuelling the ongoing expansion of the property market.
– photo IPA Agency –
(ITALPRESS).
