PropertyCommunity.com has reported that Mediterranean countries are proving more popular among those searching for overseas property as the focus turns away from wintry destinations to summer dreams, according to the latest foreign real estate index.
In the first quarter of 2009, the All-Property Price Index stood at 156.99, a decline of 2.83 per cent compared to the corresponding period last year, the National Statistics Office reported on Thursday.
The drop primarily reflected a decrease of 5.26 per cent in the apartments index, and of 2.19 per cent in the maisonettes index, [...]
Local residential property is seeing a decrease in prices. The Central Bank of Malta recently announced that the type of property which suffered the most were apartments in shell form which decreased by 20% in value.