As part of the RE/MAX Malta’s mission to stay abreast with market trends and to provide the public with up-to-date information regarding the real estate market the company confirmed that it has commissioned a full Malta property market research and it will be releasing the full report on their main website. The report will be released together with company data regarding pricing trends.
The research was based on a National representative sample and was based on quota sampling, a standard to ensure that the research represented the Maltese population.
The study set out to obtain further insight into the property market, with the aim of getting a clearer understanding of the behavioural process during past purchases as well as an trends related to the individual’s spending power and preferences.
The study reveals that the vast majority of the people interviewed (75.8%) live with the husband, wife or partner, whilst 14.7% of those interviewed live with the parents. In most cases (29.8%), up to 3 people live in the household, while 27.2% stated that up to 4 persons live in their household, and an additional 26% said up to two persons reside in the house. Findings also show that the average spend on housing amounts to 26% of the total household income, whereas over 18.4% of the Maltese population own a second residence in Malta or abroad.
The research goes into further detail as to where the second residences are located, frequency of moving house, how long it takes the average person to find a home, how many viewings one takes to purchase a property as well as in which type of properties people live in Malta, whilst also it elaborated on how many bedrooms and bathrooms the average Maltese household contains.
Speaking about the research, Jeffrey Buttigieg, COO of RE/MAX Malta said, “Our aim is to provide the industry and the population key information so that we collectively may educate ourselves and use this market knowledge accordingly”
He continued to explain that the report will be released on their website shortly “We will be releasing this sensitive information shortly on our website and those interested will find a link on our home page” he concluded.
The Malta Real Estate report is one of the few community endeavours in which RE/MAX Malta have decided to do regularly. As part of the company’s core ideology they are committed to being “above the crowd” and by providing this research publicly they are aligning their strategy with their ethos. For more information about the research one may contact [email protected]