New dwellings increase by 34% in a year

The number of newly approved dwellings has shot up from 2,937 in 2014 to 3,947 in 2015 – an increase of 34% – statistics published by the Malta Environment and Planning Authority show.

Although the number of new dwellings remains substantially lower than that approved in the property boom between 2006 and 2009, 2015 saw the second highest percentage increase in approved dwellings since 2000.

A similar percentage increase was registered between 2004 and 2005 when the number of new dwellings had shot up by 35% in a year.

The number of new permits for dwellings is the highest since 2011 but remains substantially lower than that approved in 2007, when a record 11,343 dwellings were approved.  

Statistics show that permits for new dwellings shot up from 3,970 in 2000 to peak at 11,343 in 2007. Subsequently the number of permits declined to just 2,707 in 2013.

In 2015, MEPA approved the highest number of maisonettes (471) since 2007 and the highest number of terraced houses (342) since 2006. This suggests a shift towards larger houses. 

1,407 out of the 3,947 dwellings approved in 2015 were built on virgin land, compared to 1,067 in 2014. But as a percentage the number of dwellings on virgin land has decreased from 70% in 2000 to 36% now.

1,935 dwellings were the result of the demolition of older buildings while 605 were the result of the conversion of existing properties. The year 2015 registered the highest number of converted dwellings since 2000.

Conversions remained relatively stable between 2000 and 2004, 2005 experienced an increase, followed by a decline in 2006 and an increase in 2007 and 2008. This was followed by a decline between 2009-2013 and an increase in 2014 and 2015. Redevelopment saw a steady increase with a major jump in the 2005-2007 period. 

In 2015, 71 new dwellings were approved outside development zones, up from 68 the previous year and just 41 in 2012. But new dwellings in ODZ represented 1.8% of all dwellings approved last year, which is the same percentage as in 2014. 

90,014 new dwellings have been approved since 2000, of which 64.021 have been approved in the past 10 years.