The traditional way of searching multiple real estate listings online and working with many different real estate agents can be time wasting, tedious and nerve-racking – which in turn, could lead a person into making hasty decisions. A new channel for acquiring property has been gaining popularity rapidly in Malta – auctions! – Auctions are a more transparent process through which a potential purchaser can view properties at their true market value. Malta property auctioneers is the first and only auction house in Malta and Gozo which offers the personalized service you deserve. “On auction, as the hammer falls, you can find yourself walking away with an amazing deal! A property listed on an open agency can easily be sold for up to 30% less than its original listing price. We spend a lot of time and energy on singling out vendors who are ready to sell their property at a reasonable price and sometimes, even at a reduced price given that the property is sold within a short period of time.
There are a number of reasons why a person might wish to sell their property quickly. Bank repossessions, marriage disputes, family feuds and inheritance are all possible causes but some vendors are simply individuals seeking to sell their property at true market value and do not want to have their property on the market for years on end. These are the kinds of vendors Malta Property Auctioneers seeks out in order to offer its clients unique investment opportunities and a fair chance to cut a good deal.
With an auction, a reserve price – relatively below market value – is usually set. Potential purchasers are invited to view the properties beforehand and may then, either place an offer immediately or wait for auction day to do so. Over the last twenty-five years, property value in Malta and Gozo has increased tremendously sometimes by 20 to 25% in one year, not only due to the demand but also because of finite land on the island.
The world economy has been a disaster over the last three years but Malta’s property value has been recorded to only have come down by a mere 13-15%, making it a great time to purchase a property. In 2010, €47 million worth of property was placed on our auctions. In 2011, this went up to €51 million and over €25 million in the first six months of 2012. Many of the properties placed on auction sell within weeks of being listed and the reason for this success boils down to the fact that people feel comfortable knowing they are getting a fair deal. The values of properties listed on Malta Property Auctioneers vary from €150,000 to €3 million, as we cover everything from luxury villas to small apartments. If there’s any particular property you’re interested in, make sure to ask us about them. You never know – you might grab yourself a great deal!