The Malta Real Estate Market with Kevin Buttigieg
The Malta Real Estate Market
Insights about the Real Estate Market
Podcast Summary
Welcome to the Real Estate Conversation video podcast! Today, I had the pleasure of speaking with my brother, Kevin Buttigieg, the chairman of Remax Malta, who has been in the real estate industry for over 24 years. Kevin founded Remax in 2004 and has led the company through 15 years of consecutive growth, earning prestigious awards like the European Excellence Award and being crowned the Global Agent of the Year in Remax.
During our discussion, we delved into the current state of the real estate market in Malta, where we’ve seen three to five years of continuous growth, driven by foreign investments and an increasing number of expats needing both residential and commercial properties. This demand has also been fueled by various government schemes aimed at first-time and second-time buyers. However, the recent hike in prices has made it challenging for new couples to afford their first home.
Kevin addressed concerns about a potential slowdown in the market, noting that while the market is stabilizing, it isn’t necessarily declining. He emphasized that proper developers are not worried, but those who entered the market recently, often referred to as “cowboys,” should be concerned due to their lack of experience and the rising costs of sites.
We also discussed the importance of quality in real estate, with Kevin stressing that buyers deserve a high-end product, and developers who cut corners will ultimately harm their reputation. He highlighted the necessity of being honest with clients and delivering on promises, as this builds trust and ensures long-term success.
Kevin provided insights into the future of the real estate market, predicting stability over the next two to three years. He also touched on the importance of working with experienced and honest agents, who can guide buyers through the process, from understanding loan options to choosing the right property.
Lastly, we talked about the potential regulation of real estate agents, which Kevin supports as it would help eliminate unprofessional agents from the industry, making it a more credible profession. This regulation, combined with continued focus on quality and infrastructure, will ensure that Malta’s real estate market remains strong and attractive to both local and foreign buyers.
Overall, Kevin’s insights confirm that while the market may be stabilizing, there are still great opportunities, especially for those who work with reputable agents and developers. The key takeaway is the importance of honesty, quality, and professionalism in maintaining a healthy real estate market.
