Sunday 05 April 2020

HSBC in excellent position to support the residential property market

HSBC is committed to continue its support of Malta’s real estate market through its competitive range of home loans available in branch. This was stated by HSBC Malta’s Head of Retail Banking and Wealth Management, Daniel Robinson, during a networking event for real estate agents at the Hilton’s Spinola Suite, organised by HSBC.

Mr Robinson explained that, in 2018 the business wanted to build on the work it had completed in 2017, treating both compliance and credit quality as important requisites to supporting a strong property market in Malta. HSBC continues to work hard improving the processes used by its customers whilst providing home loans at market leading rates. “As a result of our work in 2017, today, HSBC Malta is in an excellent position to push on in improving the way we serve our customers better and help them achieve their personal goals. Key to this is providing an excellent, slick and simplified service when processing home loans, combined with our excellent product range.” said Mr Robinson. “To further show our commitment to the market in Malta, HSBC is extending its current range of offers as well as reducing, and in some cases, totally removing home loan related fees for a set period of time.”

The event, also featured a presentation by economist Dr Gordon Cordina, entitled “The Outlook for the Residential Property Market in Malta.”

“The current boom in real estate appears to be, in the mainstream, well-supported by economic fundamentals, but investment in the quality of residential attractiveness is needed to avoid a market bubble in the longer term,” said Dr Cordina. He presented market statistics that supported the current confidence in the residential property market, while detailing what are the warning signs that economists are always on the lookout for. He specified the positives of the current real estate market, the requisites for continued success, as well as the potential risks that need to be managed to ensure that the market does not experience a downturn.

After a question and answer session, during which Dr Cordina and Mr Robinson answered questions from the estate agents, a reception was held during which invitees had a chance to talk with Mr Robinson and Dr Cordina as well as with HSBC’s home loan specialists on various real estate related topics.

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