by admin 
Includes A Property Valuation Calculator!
Do you want to sell your home? Perhaps you are looking to buy a property. How do you work out the value of your property in Malta?
Try out this property calculator below to give you a rough idea of what your property in Malta is worth.
Complete the second calculator below if your views and finishes are not ‘standard’ to get a better estimation of the value of your property.
It is always advisable to obtain an onsite professional valuation.
Various factors contribute to the value of your property in Malta. The major factors include the type of property you own, the size of your bricks and mortar plus the land it sits on, and also where it is located. These three important points will give you an average value of your property. The reality is that this value could be higher or even lower when you add more specific information to all three factors.
LOCATION: Location, location, is often touted as the main factor influencing the value of a property. Even in a small country like Malta, this is often the case, especially in specific villa areas, and high-quality developments in Specially Designated Areas (SDA’s).
Sliema and St Julian’s and the immediate surroundings are the primary locations where the value of a property in Malta is positively affected the most
PROPERTY TYPE: This obvious factor needs little information – a typical apartment is valued at less than a villa or house with land attached to it. Is this always the case? Some apartments located in the centre of a popular town or which form part of a luxury development will in many cases cost even more than your average villa with a surrounding garden.
BRICKS, MORTAR AND LAND: The square meter total of many properties can often give a clear indication of the value of a property. Typical apartments can sometimes be valued just by this factor and past sales records confirm a similar price value for similar-sized apartments, maisonettes and penthouses. This factor also often helps to value large houses and villas, especially in Malta, where the price of land is mostly what dictates the value.
Once you establish the value of your property through these three main factors you would then need to consider other important elements.
CONDITION OF YOUR PROPERTY: The condition of your property can add or subtract from its value. If your home is highly finished with many added extras, you would expect the value to increase. This is often the case with properties in a decent location and as long as the added extras are what the market is looking for. Sometimes properties are ‘over finished’ and this could work against the end value.
Other properties might need improvement or outright renovations and this would negatively affect the ‘average value’ of your property.
VIEWS AND TERRACES: The better the view the more one can add to the ‘average value’ of a property. In Malta, an open view could add 10-20% to the value.
The same goes with a sea view which could add at least 20% to the ‘average value’.
A seafront view in Malta could add anything between 50% and 100% to the ‘average value’, especially in places like Sliema, St Julians and Ta Xbiex.
Other factors which could positively or negatively affect the value of property in Malta are;
- The potential to redevelop your home into something with added value like building on the airspace or converting your house into apartments.
- The rental value of your property. If the rental return potential of a specific property is high, for example in commercial or touristic areas, the overall value of your property will increase.
- The neighbours and neighbourhood, could affect a property value both positively and negatively.
- The age of a property, the common areas of a block of apartments.
- The ground rent or other specific conditions in the purchase contract.
- The building permits and if all specifics are in order.
- The attitude, positive or negative of the owners themselves!
Property Value Calculators like the one included in this blog can give you a general idea of the value of your property. However, it is always advisable to get a professional onsite inspection as there could be many variations to the value of your home or property.
