The Macro Economic Factors affecting Property Prices in Malta
Journal Title: MCAST Journal of Applied Research & Practice - Year 2018, Vol 2, Issue 1
Abstract
Property prices have been on top of European governments’ agenda for decades as their contribution towards the whole economic system is imperative. Property prices in Malta have been on an upward trend and, lately, the upward trend has been larger than in previous years. Even though this is a sign of a strong and growing economy, it can have implications on residents due to affordability issues affecting their standard of living. This study seeks to determine the factors which have an influence on property price in Malta whilst also analysing the strength of the relationship each factor holds on house prices. This study examines the Gross Domestic Product, unemployment rate, population, inflation, the number of home loans within the Maltese economy, ageing population, the number of tourists, minimum wage, and development permits. Out of these nine variables tested, eight proved to be statistically significant. The variables which had the largest effect on house prices was the unemployment rate whilst the variable with the least effect on house prices was inflation.<br/><br/>
Authors and Affiliations
Luke Vella
Keywords
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- EP ID EP599444
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Abstract Example part.1<br/><br/>
The Macro Economic Factors affecting Property Prices in Malta
Property prices have been on top of European governments’ agenda for decades as their contribution towards the whole economic system is imperative. Property prices in Malta have been on an upward trend and, lately, the u...