Current Mortgage Interest Rate (MIR)

hsbc website

https://www.hsbc.com.mt/1/2/PERSONAL/ho … /afford-it

Wanted the numbers only. HSBC will give them to you in quote after you tell them some personal info. Wanted to avoid this.

Hi stand,

welcome to the forum .

Why do you want to buy property in Malta?

You should do research first and then make a decision. The bubble can burst anytime !

If you are not a resident in Malta with high income you won't get a mortgage in Malta anyway. They expect you to pay cash.... so your money is gone and not theirs .......

Cheers
Ricky

Was not trying to buy property. I'm already in enough trouble here at home. Just doing some research for my client. And haven't they been predicting this Maltese bubble for some time now? I know everything moves slower there .

Hi stand,

if you want to give your client some good advice then tell him/her to forget buying in Malta and to wait a few years !

Cheers
Ricky

Some people have more money than sense.

ricky wrote:

The bubble can burst anytime !

Reading the Air Malta magazine flying home on Saturday, I couldn't help but think something similar. 2 million euro apartments advertised at the top end, but even the 600k apartments I think are way overpriced.

Who is buying these apartments? Is there an online record like in other countries that shows whether they are actually being sold or not?

Hi Steve,

that's an easy one to answer !

NO ..........

I looked at several appartments in the asking price range from 300 Tsd to 700 Tsd and they were very shoddy !


Nobody should buy a place for that kind of money with cracked tiles , holes in the wall ( for AC) and lacking a bathroom. New places are not cleaned from paint splashes and other building left-overs.

I can only guess that the buyers (banks ?) don't even look at the crap  they are buying.

Cheers
Ricky

We bought the apartment with 90% financing from HSBC for rate 3.75% p.a.

You can buy even if you are not resident - our russian friends just bought it this last summer with 60% financing.

Of course, there are a lot of overpriced property ('specially for foregners' ), but we've found a nice 3-br for EUR 135k

Hi Spiridonov,

that sounds goods ! Gzira is a nice area ( depending on the neighbours- we just moved there but have a lot of loud African and Spanish neighbours).

Putting down down 60 % shows the possible estimated overpricing . The banks like to stay on the safeside! But they also make mistakes.

Cheers
Ricky

We've moved to the small street near university stadium - quite quiet

Regarding 60% - it's because of non-resident status of purchasers, they have no confirmed income in Malta. For local buyers the bank can provide up to 90% if the price confirmed by the architect.

dont buy in malta - overpriced. over financed and shoddily built - no housebulders guarantee here, once you buy the money is paid you are on your own.......caveat emptor