“Stop selling property to foreigners” – Estate Agents

The Federation of Estate Agents said that Malta should adopt the policy New Zealand will adopt and stop selling property to foreigners.

The Federation remarked that nowadays one pays €900 to rent property which would have cost €200 five years ago.

Recently, the Government of New Zealand announced it will stop selling property to foreigners as property prices in New Zealand went up by 75%.

In Malta, according to the Federation, prices have gone up by 100%, therefore the government should follow New Zealand’s Government’s footsteps, and halt property sale for foreigners, especially the sale of property costing less than 250,000.