Sellers: Don’t Wait To Make Your Move
The current market conditions make this summer the right time to make your move. Let the experts at Zanzi Homes guide you.
Selling your property is a big decision. And it’s important to get the timing right to ensure you get the most value from your investment while also making a solid investment in the next property you invest in. But how do you know when the time is the right time?
Let the real estate experts at Zanzi Homes guide you on this one.
The Housing Index in Malta has increased to 139.52 points in the first quarter of 2022 from 138.99 points in the fourth quarter of 2021,” according to Eurostat. This measures the residential property market prices and shows that the prices of property in the Maltese Islands are on the increase. This means that the economy is strong and so is the property market. Price increases in the real estate market in Malta (and any country) generally create more jobs and stimulate confidence and prompt high consumer spending.
Too much jargon. Get to the point.
The current market conditions in Malta are ideal to make your move.
There are certain things to consider before putting your property on the market.
Why is 2022 the right time to sell your property in Malta?
- Malta is still a seller’s market
- The supply cannot keep up with demand so the property is selling fast
- House prices continue to rise, boosting equity
- Your property is in tip-top shape and could attract international buyers
What are common reasons to consider selling your property now?
- You’re not happy in your current home
- Your family is growing and you need an upgrade
- You are selling your second home or an inherited property
- Your property needs maintenance work and improvements
What reasons could there be not to sell your property for now?
- You are happy in your current property
- The property prices at the moment are beyond your currently available budget
- The value of your current property has not risen very much since you purchased it
- You may incur high taxes
- You don’t have the mental head space to get into the commitment of selling your property right now
That was the high-level breakdown. If you want a bit more detail on how the current market situation could influence your decision to make your move and sell your property in Malta, read on.
Property Prices in Malta will keep rising with time
Housing prices have doubled since 2013 a study shows. This means that, on average, a property that sold for €100,000 in 2013 would sell for €200,000 in 2022 according to the Malta Independent. This is related to Malta’s fast economic growth and a big influx of foreign workers according to the report.
The house prices across Malta and Gozo are expected to keep increasing in 2022 however at a rate that is more moderate than in previous years. This is in part due to the repercussions of the global pandemic that is being experienced worldwide. The growth also depends on the number of properties available in comparison to the high demand, construction costs, affordability for first-time buyers, and interest rates reports Times of Malta.
This could mean that it would be a good time for you to sell. If you’re looking to buy a larger property you may want to make your move now before property prices go up even further. If you’re ready to go for it, get in touch with a Zanzi Homes agent so they can help you get ahead of the curve.
Now that we’ve had a look at the current market situation, it's also important to consider what’s right for you.
Get your property in good condition and put it on the market
Selling your property doesn’t happen overnight, as you probably know. It takes time to get your property in the best shape possible. Not simply by giving it a deep clean but also consider maintenance work, a new coat of paint, and getting the pesky leak in your bathroom under control. These all have huge implications on the sell-ability and appeal of your property to potential buyers so do not take it for granted.
Get things ready and bring in an expert real estate agent from Zanzi Homes who can guide you on how best to improve your property’s market value.
Tips to sell your home in 2022
- Deep clean and declutter your home and get organised to make your home as attractive as possible.
- Bring in expert valuators to help determine the value of your property at the right price range.
- Work with competent and knowledgeable real estate agents that have experience selling properties like yours, this can cut the time down and save you all the headaches with paperwork and other unknowns.
- Stage a home office – with current hybrid working situations, its worth considering converting one of the bedrooms or garages into a home office to offer added value to your potential buyer
If you’re still not fully convinced whether this is the right time for you to make your move, speak to one of the trusted agents at Zanzi Homes to get an even better understanding of your options.