Malta Apartment Prices by Area in 2026: What the Data Actually Shows
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Every year, the National Statistics Office publishes its Relative Apartment Price Levels by Locality report. It draws on actual property transactions recorded by the Malta Tax and Customs Administration. Furthermore, it uses a hedonic pricing model to compare apartment values across localities. This adjusts for floor area, building age and amenities, making it one of the most reliable comparisons available.
This year’s figures tell a clear story. Malta’s property market continues to grow. The gap between premium and affordable areas is widening. Moreover, certain localities are pulling significantly ahead of the rest. Here is what the 2026 data show and what they mean for buyers, sellers and investors.
How the NSO Index Works
Before looking at the figures, it helps to understand what they actually measure.
The NSO sets the national weighted average price per square metre at 100. Each locality’s score then shows how far above or below that average its prices sit. A score of 160, for example, means apartments in that area cost 60% more per square metre than the national average. Penthouses are excluded from the analysis.
As a result, this index is one of the most reliable tools available for comparing property values across Malta. It strips out the distortions that come from comparing different property sizes or conditions, giving a genuinely useful picture of where prices stand.
Sliema: Still the Most Expensive Locality in Malta
The Numbers
Sliema remained Malta’s most expensive locality in 2025. Apartment prices per square metre averaged 61% above the national average, recording a price level of 160.98. Furthermore, the figure was 2% higher than the previous year, extending its run at the top to at least three consecutive years.
Why Sliema Stays at the Top
Sliema’s appeal is consistent and well-established. It offers a seafront promenade, excellent retail and dining, and strong transport links. In addition, demand from both local and international buyers, particularly those relocating for iGaming and financial services roles, keeps competition extremely high.
Typical prices range from about €450,000 to €1.4 million. For investors, gross rental yields in Sliema range from 4% to 6% per year.
St Julian’s: A Sharp Recovery
St Julian‘s followed closely, with apartment price levels 57% above the national average. Notably, it recovered sharply after a dip in 2024.
The rebound is significant. Some softening had occurred in 2024, likely linked to concerns about short-term rental saturation. However, buyer demand in 2025 proved robust. International buyers drawn to the area’s lifestyle and connectivity returned in strength.
St Julian’s is also home to Portomaso and Pender Gardens, two of Malta’s most prominent Special Designated Areas. Consequently, non-EU buyers can purchase there without an AIP permit and without restriction on the number of properties they own.
Pembroke and Swieqi: The Premium Corridor Holds Firm
Price Levels
Pembroke and Swieqi both held steady at price levels above 139. Pembroke sits at 42% above the national average. Swieqi follows at 39% above. Together, they cement the Northern Harbour district’s status as Malta’s premium residential corridor.
Who Buys Here
Both areas attract families, international professionals and buyers seeking quieter surroundings. Pembroke in particular has become popular with expatriate families. This is partly due to the presence of nearby international schools, making it one of the most practical choices for relocating households.
The Ones to Watch
Ta’ Xbiex
Ta’ Xbiex recorded one of the strongest gains of any locality. Prices rose by nearly 13% between 2024 and 2025. The area now sits at 23% above the national average. Its marina setting and proximity to Sliema and Gżira make it one of the most quietly desirable addresses on the island. For buyers who find Sliema prices out of reach, Ta’ Xbiex therefore offers a compelling alternative with strong appreciation credentials.
San Ġwann and Mellieħa
Both localities posted steady increases of around 5%. Mellieħa’s growth is particularly significant. It is one of the few areas in Malta that offers genuine space, beach access and a quieter pace of life. In addition, its two Special Designated Areas, Tas-Sellum and Southridge, allow non-EU investors to purchase there without restriction.
The Broader Market Picture
The NSO’s Residential Property Price Index stood at 104.19 in the first quarter of 2026. This marks an annual increase of 6.7% compared with the same period last year. Apartments led the increase, up 6.9% year-on-year.
Over the longer term, the index has climbed from 72.54 in the first quarter of 2020 to its current level. That represents an increase of roughly 44%. Meanwhile, the average house price rose from €163,560 in 2020 to €237,749 in 2025.
The direction of travel is clear. Malta’s property market consistently outperforms the EU average. Furthermore, the premium localities are growing faster still.
What Is Happening in Gozo
The Gozo picture is markedly different. Apartment prices in Malta are now more than 30% higher than in Gozo. The gap between the islands reached approximately 35.5 index points in 2025.
Nearly all Gozitan localities recorded year-on-year declines. Qala and Għajnsielem were the exceptions, holding broadly steady. Nadur, however, saw one of the sharpest drops, falling from 79.10 in 2024 to 71.38 in 2025.
For buyers and investors, this creates two very different propositions. Gozo offers lower entry prices and a lifestyle-led appeal. Malta’s premium localities, on the other hand, offer stronger year-on-year growth and more consistent demand from a broader pool of buyers.
What It Means If You Are Buying
Buying in the Top Tier
If you are buying in Sliema, St Julian’s or the broader Northern Harbour corridor, the data confirms what most buyers already sense. You are entering one of the most competitive markets in Malta. Prices are unlikely to soften meaningfully in the near term. Well-located apartments in these areas continue to attract strong interest from both local and international buyers.
Buying for Value
If you are buying with an eye on value and future appreciation, Ta’ Xbiex, Mellieħa and San Ġwann all offer strong fundamentals at lower entry prices. The NSO data suggests these areas are gaining ground, not losing it.
Buying as an Investor
If rental income is your priority, the Northern Harbour corridor consistently delivers the strongest yields. High demand from the iGaming, financial services, and expatriate communities supports this year-round, not just during the tourist season.
Our Exclusive Properties in These Areas
At RE/MAX Malta, we carry an extensive range of exclusive residential properties for sale across Sliema, St Julian’s, Swieqi and Pembroke. These are the four localities the NSO data identifies as Malta’s top-performing areas in 2025.
Our current listings include apartments, penthouses and seafront properties across a variety of sizes and price points. Whether you are looking for a one-bedroom investment apartment, a larger family home with sea views, or a premium penthouse in one of Malta’s most sought-after addresses, our agents can help you find the right match.
Several of our listings in these areas are available exclusively through RE/MAX Malta. That means you will not find them anywhere else. Browse our current listings or speak directly to one of our agents who specialises in this part of the island.
Browse exclusive properties for sale here:
The RE/MAX Takeaway
The NSO data for 2025 confirms what RE/MAX Malta sees on the ground every day. Demand for well-located apartments in Malta’s premium localities remains strong. Prices continue to rise. The gap between the top-performing areas and the rest of the island is widening.
Whether you are buying your first apartment, upsizing or identifying the right investment opportunity, the data matters. So does having an agent who understands what it means for your specific situation.
Your journey begins with RE/MAX Malta. Speak to one of our agents today and let us help you make sense of the market.
Frequently Asked Questions
Which area has the most expensive apartments in Malta?
Sliema is Malta’s most expensive locality. Apartment prices per square metre averaged 61% above the national average in 2025, extending its run at the top to at least three consecutive years.
Are property prices still rising in Malta in 2026?
Yes. The NSO’s Residential Property Price Index rose by 6.7% year-on-year in the first quarter of 2026. Apartments led the increase, at 6.9%, the fastest annual growth pace since 2022
Which areas in Malta offer the best value for money?
Ta’ Xbiex, Mellieħa and San Ġwann all offer strong fundamentals at lower entry prices than Sliema and St Julian’s. All three posted steady year-on-year price growth according to the NSO data
Is Gozo cheaper than Malta for property?
Yes. Apartment prices in Malta are now more than 30% higher than in Gozo on average. Most Gozitan localities recorded year-on-year price declines in 2025.
What is the average rental yield in Sliema and St Julian’s?
Gross rental yields in prime locations like Sliema and St Julian’s run at around 4% to 6% per year. This is significantly higher than comparable prime locations in cities such as London or Munich.
How does Malta’s property price growth compare to the EU average?
Malta recorded 5.7% annual growth in Q3 2025 compared to the EU average of 5.4% over the same period. Growth is above average but without the overheating seen in markets like Portugal.
Sources: NSO Malta Relative Apartment Price Levels by Locality 2025 | NSO Residential Property Price Index Q1 2026 | Malta Tax and Customs Administration transaction data | Times of Malta, July 2026