Development of property in malta needs to dramatically fall

The oversupply of property in Malta is causing grave problems for the country’s property market and the government should step in immediately to control the development of new properties. That’s the view of a leading Maltese Property expert who believes that the relaxing of planning regulations in Malta over recent years has caused huge problems for the country’s property market.

Huge supply of Property In Malta pushing prices down

A recent Central Bank Financial Stability Report has acknowledged the weak state of the Malta Property market at a time when more and more properties are coming up for sale despite low demand.

The report states: “The slow-down in the property market… raises credit risk associated with these projects. In particular, additional supply of housing units may extend the period of lull in property prices.”

Martin Scicluna, writing in Malta Independent, believes that the oversupply of Property In Malta is the leading cause for the current ‘parlous’ state of the property market.

Source: HomesGoFast.com