31 December 2013

Value of residences in Malta higher than euro area average

Times of Malta 21/12/2013: A survey which compared households in Malta and the EU has found that  77.7% of households in Malta owned their residence in 2010, as opposed to 60.1% in the euro area.

And while the median value of the Maltese households’ main residence was estimated at €186,643, the median value in the euro area stood at €180,300.

The Central Bank survey found that while almost a third of Maltese households (31.4%) owned other forms of property, including second homes, garages, commercial premises and agricultural land, the corresponding proportion of euro area households was less than one-fourth (23.1%).

While the percentage ownership of vehicles was moderately higher for Maltese households, the share of households reporting business ownership was comparable with that reported for the euro area.
In contrast, Maltese households’ ownership of valuables was significantly lower...read on.