There has never been a better time to buy property than right now, says Ludwig Farrugia, who is the manager and co-franchise owner of RE/MAX Affiliates Advantage with Clive Demicoli.

One thing in life never changes: the need for a family home.

“Young people will always grow up, get married and want to settle down in their own home, which is why the first-time buyers’ market remains the strongest one. Besides that, property is always a good investment because it gains value over time,” Ludwig Farrugia, co-franchise owner and manager at RE/MAX Advantage in Msida, says.

Located near the skate park in Msida, Farrugia’s offices are strategically located, making it easy for him and his colleagues to offer their services across most of the island.

2020 has been quite a year for the RE/MAX Affiliates Advantage team and Malta’s property market in general.

“At the beginning of the pandemic, sales slowed down since we couldn’t show properties in person. We have since adapted and now wear protective clothing and follow the government’s guidelines, so things have picked up again,” Farrugia says.

“What has also helped enormously are the tax cuts for first-time buyers that were introduced in the last budget and are helping those buying their first home save a lot of money.”

Farrugia firmly believes that his agency’s job is to build a relationship with its clients, especially those investing in property for the first time.

“It’s our responsibility to help our buyers with the biggest investment of their life – they need our expertise,” he explains.

Every Thursday, we pick a village and each one of us goes to see as many properties listed with us as possible in that chosen location

“It’s our job to guide them and make sure that they are not overpaying. And while they might not always be thinking about eventually selling the property they’re buying, we always bring the topic of resale value to the table. We want to be certain that, just in case something happens, it’ll be an easy resale for them.”

The RE/MAX Advantage team has an unusual but effective way of preparing themselves for any request, and not just those from first-time buyers.

“Every Thursday, we pick a village and each one of us goes to see as many properties listed with us as possible in that chosen location,” Farrugia says.

“That way, we have a feel for the properties we suggest and can also match a client to the perfect property more easily.”

Back at the office, the team is close to Malta’s leading betting agencies and the University of Malta. Both attract a large number of people seeking to rent property: foreigners in the case of Malta’s iGaming companies and Gozitans in the case of the university.

“Many think that real estate prices dropped this year, but what really happened was that sellers are now respecting our valuation of their properties and not overpricing them as they had previously been doing,” Farrugia continues.

“So right now is a great time to buy, especially buy-to-rent properties, since prices are the most accurate they’ve been in a long time.”

Another change brought about by the pandemic is the increased demand for real estate with an outdoor space, especially by young families.

“We have seen a big increase in people moving to places with an outside area, whether it is a garden or terrace. The outdoors has become crucial because everyone is spending more time at home,” Farrugia notes.

“Few people want a terraced house these days and nobody wants to spend their day cleaning a large house. Beyond that, although most prefer to have a good-sized flat, an open space where they can have a meal or barbecue with their family has become very valuable, even if it’s just a spacious terrace. Again, now is the perfect time to make such a move because of the ideal pricing of properties.”

Whether you’re a first-time buyer, a seasoned one or want to invest in a property to rent, Farrugia agrees that now is the time to take the plunge. Between the incentives provided by the government and the proper pricing of properties, the real estate market is definitely on the up once again.

For more information, visit www.remax-malta.com.