Meanwhile, The Times of Malta is reporting the expected average price for a 3 bedroom apartment to be €83,000 while a 3 bedroom maisonette will fetch in the region of €92,000. There is no specification as to whether these prices are for the shell form, advanced shell, or finished product.
Current property sales will now have to vie with these benchmarks when competing for first time buyers on the Maltese property market. Already, many are questioning the rationale of building further units on this island, when a large percentage of Maltese properties are lying vacant.
Update 25th May 2010
The Housing Authority is extending the closing date for applications for the sale of government apartments and maisonettes up to June 11.