Malta beats out Hong Kong for world's top home-price gains

Island living: Home prices in Malta recorded a 17pc year-on-year increase in the three-month period to the end of June, according to Knight Frank’s Global House Price Index

Pooja Thakur and Shawna Kwan

Malta has edged out Hong Kong to take the prize for territory or country with the highest residential price gains in the June quarter, according to a Knight Frank LLP Global House Price Index published last Friday.

Home prices in the tiny Mediterranean island rose 17pc in the three months to June from a year earlier, Knight Frank said, citing data from the nation's central bank. A dearth of supply combined with a robust economy that grew 66pc last year and a buoyant tech industry is pushing up demand.