Malta is Europe’s top country where property investment may inspire a future move, according to the 2022 RE/MAX European Housing Trend Report. The island is also Europe’s second top choice where people look to move abroad and the fourth top for those looking to relocate to a coastal or rural area.
A new report on real estate trends in countries across Europe has offered fresh insights into Malta’s property market.
Written by PIABO PR on behalf of RE/MAX Europe, the 2022 RE/MAX European Housing Trend Report compiles the survey responses of participants in Austria, Bulgaria, Croatia, Czech Republic, England, Finland, France, Germany, Greece, Hungary, Israel, Italy, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Spain, Switzerland, Turkey and Wales.
Aged between 18 and 65, almost 16,000 people across the 22 countries completed the online survey throughout August, answering questions related to the local and European property market.
“The 2022 RE/MAX European Housing Trend Report offers tangible insights into the international trends that impact Malta’s property market, and the sentiments towards it of customers near and far,” RE/MAX Malta CEO, Jeffrey Buttigieg said.
“As nobody in the world sells more real estate than RE/MAX, it is important that, as a brand, we take steps to understand the forces that shape the property markets of both Malta and Europe and use this valuable customer feedback to help plan the way forward.”
The report highlights that 25 per cent of Europeans are actively considering buying a residential property abroad, with a 23 per cent net increase of people who intend to buy property in Europe compared to 12 months before. Respondents also pointed towards connectivity and the environment as key concerns.
We use this valuable customer feedback to help plan the way forward
Dedicating a page to Malta’s results, the report shares that more Maltese people are open to moving abroad than in any other European country, with 40 per cent actively considering migration. For those considering buying or moving abroad, 11 per cent select Italy and eight per cent point to England as preferred destinations. Those aged 26 to 45 are most actively considering an international move, with 65 per cent seeking a better lifestyle and 58 per cent better access to work.
Rates of residential property ownership in Malta are low by European standards, particularly compared with Italy, according to the report. Those that do not currently own residential property are more likely to consider moving away from Malta: 48 per cent of non-property owners were thinking about moving abroad compared with 33 per cent of homeowners.
The report showed that the Maltese are more likely to move than before, in search of a better lifestyle: 36 per cent shared that they are much more likely to move than a year ago, while a further 23 per cent are somewhat more likely. Only 25 per cent decided against moving in the past year. Moving within the next year appeals to 15.1 per cent of respondents and 19.6 per cent said they will have moved by 2025.
More respondents hoped to move to the countryside than town in Malta, naming a slower pace of life and increased privacy as their top reasons to explore property in more rural areas, although they also highlighted access to work and healthcare as urban incentives. Good connectivity is also essential to 49 per cent of participants – 4.9 per cent higher than the EU average.
Malta ranked first in the top five countries to which a desire to invest in property may motivate a future move, with 26.2 per cent of respondents across Europe selecting it – 11.6 per cent higher than the rest of the EU and followed by Croatia, Bulgaria, Portugal and Spain.
The island also features in the top five countries where people are looking to move abroad, taking second place with 40 per cent after Turkey and before Romania, Slovenia and Switzerland.
Finally, Malta ranked fourth in Europe’s top five countries where people are looking to relocate to a coastal or rural area with 27.8 per cent, after Turkey, Bulgaria and Romania and ahead of England.
“Europe is in one of the most turbulent periods in recent history, and this may impact the housing market in profound ways. One of the report’s key takeaways is that, despite the rising cost of living across Europe, research shows that this may generate rather than reduce activity in the residential property market,” Buttigieg said.
“As an industry, we must be ready to meet this demand, while preparing to help the market respond both to the changing needs of local customers, and the rapidly changing scenario in Europe.”
For more details, visit https://remax-malta.com/.