Do you agree with their claims? 👇

A local architecture firm, DHI Periti, reports that property is now more affordable compared to the 1980s in Malta.

Their report, ‘40 Years of Housing Affordability in Malta,’ shows that the housing affordability index (HAI) for a three-bedroom apartment increased from 77 in 1982 to 98 in 2023.

Factors contributing to this improvement include decreased mortgage rates (from 8% to 2.67%), extended mortgage terms (from 25 to 40 years), and reduced upfront deposit requirements.

In 1982, the deposit required for a house purchase was 20%, compared to 10% nowadays. First-time buyers can also benefit from stamp duty waivers up to the first €200,000.

Despite these improvements, property prices have soared, increasing sixteenfold since 1982, while wages have only risen sevenfold.