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Malta 2018 – A Year In Review
In this article, our Co-Managing Director & Head of Lettings at Perry Estate Agents Malta, Robert Spiteri Paris, reviews the key highlights of 2018 whilst also looking forward to an exciting year ahead with a positive outlook for 2019.
We have had an outstanding 2018 at Perry Estate Agents, as the Maltese property market remains buoyant, underpinned by a strong economy and Government incentives. We firmly believe that this year’s great achievements are also a reflection of the success of our concentration on strategic investment in people and technology over the past years, and a tribute to the quality of our affiliates. Our clients appreciate the depth of experience and knowledge our property consultants provide, and our personal approach and unparalleled work ethic, backed by over 35 years of service in the real estate industry.
This year has been a particularly exciting one as we have successfully launched Malta’s leading real estate platform for quality property in Malta – www.perry.com.mt – which sets a new benchmark for real estate portals in Malta. Another great achievement was the publication and distribution of our newly revamped Perry Magazine, now in its 57th edition. We have doubled the pages in 2018 and our new 84-page publication includes all our clients quality properties. It also features a dedicated page on all leading lifestyle developments, besides various interesting articles.
It is clear that Malta is regarded as one of the pre-eminent property investment markets in Europe, and our market and the way in which we do business at Perry, are regarded as the gold standard for investors looking for a safe haven for their capital.
Our primary goal is for our established residential and commercial sales and lettings departments to remain at the forefront of the quality property industry, and to ensure that we continue to offer the best advice to clients from around the globe who are looking to invest or simply settle in Malta. Key challenges for the company include ensuring that we continue to deliver quality in everything we do and that we keep up-to-date with the latest trends in our market allowing us to continue to offer market-leading advice to clients. We live in rapidly changing times and realise that a major challenge is to continuously identify and adapt to new marketing channels and invest and utilise new technologies in our clients’ best interests. As technologies change, it is vital to continue to innovate to be able to offer a superior service at every level.
All indications point to 2019 being another strong year for the local real estate market. There are various reasons to expect the local market to continue to steam ahead in 2019. Recently, the rate of house price growth in Malta has left other European cities trailing in its wake. It’s a hot and exciting market characterised by quick sales and high competition for properties. One of the key factors underpinning recent price growth is the imbalance between supply and demand. Malta also remains relatively affordable; you still get a lot for your money, and prices remain lower than many other European cities. Whilst there has been stagnation in other European markets with prices reaching the limits of affordability, Malta is still some way off this point, with more room for prices to rise. We are confident that the current upward trend in Malta’s house prices will continue in 2019.
Robert Spiteri Paris – Co-Managing Director & Head of Lettings
Co-Managing Director of Perry Estate Agents
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