Malta Sotheby's International Realty is pleased to present the Sotheby's International Realty Luxury Outlook Report for 2024. This comprehensive report delves into high-end real estate markets across the globe, following several years of intense residential real estate activity.
The market has now reached more of a buyer-seller equilibrium, with inventory levels increasing slightly and prices generally holding steady. The report explores the trends shaping real estate investment decisions, revealing that high-end home seekers are expanding their reach to more parts of the globe as buyers begin to acclimate to a new normal of higher interest rates.
The historic rise in mortgage interest rates has led to a higher percentage of all-cash deals around the world. While daily currency fluctuations affecting exchange rates may be slowing international purchases of U.S. real estate, it has also contributed to an increase in American buying power in Europe and other regions.
"Southern Europe is set to show remarkable resilience despite a predicted global cooldown. This places Malta's prime property at the forefront, making this Mediterranean jewel an ideal destination for foreign property investors seeking a second home," explains Malta Sotheby's International Realty Managing Director & Joint Owner Michael J. Zammit.
Known for its 300 days of sunshine, rich culture, heritage, and tradition, Malta has always been a popular choice for investors interested in taking advantage of the island's favourable tax laws and world-class business practices, as well as those seeking citizenship or residency through investment.
"Malta's citizenship and residency through investment programs are among the most popular in the world for those seeking a safe haven for both their loved ones and their investments. Our world-class business practices and strategic location make Malta an attractive prospect for those looking to expand their international footprint," adds Zammit.
High-net-worth individuals, now more mobile than ever, maintain multiple residences across different territories. These individuals view transactions with a new perspective in light of higher taxes, new government incentives, or changing climate conditions.
"Malta is ideal for foreign investment. Even during the COVID pandemic, purchasing real estate in Malta remained a safe and sound investment. Now, as the world grapples with the post-pandemic economic fallout, Malta's private property market remains stable," continues Zammit.
Malta Sotheby's International Realty stands at the pinnacle of the real estate industry, epitomizing excellence through innovative marketing strategies, state-of-the-art technology, and a deep commitment to client satisfaction. Renowned for its impeccable service, the brand leverages its global network to provide unparalleled market insights and opportunities.
By consistently exceeding client expectations and pushing the boundaries of what's possible in real estate, Malta Sotheby's International Realty has solidified its reputation as a leader in luxury property, making it the go-to choice for discerning buyers and sellers worldwide," concludes Zammit.
Discover how Sotheby's International Realty can guide you through the evolving landscape of high-end properties worldwide and explore more of the 2024 Luxury Outlook Report here.
Originally published 19th June 2024
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