Couples caving in under property prices

Housing prices surge

Statistics issued by the NSO show the prices of apartments and maisonette in the first quarter of 2018. This graph, taken from the raw data supplied by the NSO shows a net increase in prices for these two most popular types of dwellings, between 2012-2017.

According to the SILC data, most of apartments and maisonettes have between 4-5 rooms and the NSO data on average annual incomes puts this at around the €18,000 mark. Using the NSO data, Newsbook.com.mt extrapolated the following scenarios.

From roughly an €80,000 mark in 2012 for an apartment or maisonette, these peaked to €120,000 in 2017. Other NSO data shows that the average apartment or maisonette has 5 rooms.

A couple in their 20’s, earning €38,000 gross yearly would need :
€258 monthly loan over 39 years in 2012
€390 monthly loan over 39 years in 2017

A Couple in their 30’s, earning €38,000 gross yearly would need :
€305 monthly loan over 29 years in 2012
€516 monthly loan over 29 years in 2017

A Couple in their 40’s, earning €38,000 gross yearly would need :
€408 monthly loan over 19 years in 2012
€622 monthly loan over 19 years in 2017