by Francesca Vella
Malta is one of the 25 most affordable housing markets worldwide, according to a Home Price Comparison Index (HPCI) study published by premier real estate provider Coldwell Banker. However a report published in Business Week hinted that this could be due to the fact that the country has not yet joined the euro area.
Apart from 317 American housing markets, the 2007 HPCI study evaluated affordability in 77 international housing markets in 28 nations outside the US.The most expensive studied international markets included (prices converted to US dollars as of 7 September this year): Dublin ($2.13 million), Milan ($1.91 million), Rome ($1.79 million) and Paris ($1.67 million), On the other hand, the most affordable international market tracked was Bogotá, Colombia, at $140,100, followed closely by Sharm El Sheikh, Egypt ($144,896) and Granada, Nicaragua ($190,000).
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