Malta Property Blog

"Combined with the probable introduction of more stringent capital and liquidity requirements in the period ahead and the likely pressure on profitability deriving from an unfavourable economic conjuncture, the expected increase in credit risk suggests that the banks may need to reassess their dividend policies in order to be able to support a commensurate amount of capital." The Governor of the Central Bank, Michael C. Bonello, made the above comment in his statement introducing the Financial Stability Report 2009, published earlier today by the Central Bank of Malta. "Against this background of heightened instability and risk, the proposals currently under study to strengthen regulatory regimes, and in particular those of the Basel Committee designed to increase the resilience of banks through the adoption of stricter capital and liquidity regulations, assume particular relevance. Their early implementation is now becoming a matter of urgency" he went on to say. T

The Housing Authority is subsidising the sale of over a hundred apartments, garages and nine maisonettes, spread over a number of localities; however no further information is currently available on the authority's website. 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.