Category Archives: Malta Related Pages

Exclusive Property Listings

What is an Exclusive Property Listing?

When a property is listed with a Real Estate company in Malta, you may know by now that it can be listed either “Exclusively” (Sole agents) or as an Open listing.  When a property is marked as “Exclusive” this means that the sale of the property is “Exclusive” to the one company which has it listed. For example, just imagine that company ABC Real Estate lists Apartment No. 1111 at Portomaso as an “Exclusive” listing – this means that the only agents that are able to advertise, conduct showings/open houses, and ultimately sell this property are ABC Real Estate. Viewing such properties with a different agent, could ultimately result in paying more commission!

In Many countries the norm is to list with only one agent, however in Malta, very  often we find that people opt for Open listings, either not to offend friends or family members that work with other agencies by giving them equal opportunity to sell the proprety but also to increase the sales force by adopting a first come first served basis.

What Does An “Exclusive” Listing Mean For A Seller?

For a Seller, an exclusive listing has several advantages. The first advantage, is obviously a lower commission rate, which ultimately also benefits the buyer. Another worthy mention, is the fact that sellers get a more personalized service since the Sole agent will be more committed to make the extra effort to get your property sold. Locally, another tremendous advantage of listing Exclusively is that you will not have hundreds of agents and agencies wasting your time by showing your property to prospective clients without even being knowledgeable about what they are trying to sell. Exclusive listings are popular among sellers who prefer an added level of privacy during the home selling process. As Real  Estate agents, we only have a couple of goals in mind when working with sellers – the obvious goal would be to sell your property for the best price and in the least amount of time possible. However, another important goal in selling your property would be to bring you the best possible and most suitable conditions (i.e. fair selling price, convenient closing dates, fair conditions. etc.) –  and this is best achieved when working in a more personal manner.

Palazzo in Valletta Exclusively for sale through Pierre Faure Real Estate

Palazzo in Valletta Exclusively for sale through Pierre Faure Real Estate

 

What Does An “Exclusive” Listing Mean For A Buyer?

As mentioned above, as a buyer you will ultimately be paying less commission. Also, when properties are under an exclusive agreement you will most likely avoid a bidding war with other potential purchasers since the agency will be fully aware of other offers received.

Written by Stefan Consiglio – Manager at Pierre Faure Real Estate & Malta Property Auctioneers.

A double Fronted Townhouse in Sliema exclusively for sale through Pierre Faure Real Estate

A double Fronted Townhouse in Sliema exclusively for sale through Pierre Faure Real Estate

Marsaxlokk

mxlokkMarsaxlokk is a charming village infamous for its traditional, brightly painted Luzzus, tasty fish restaurants and lively Sunday market and it is no wonder that it is highly visited by thousands of tourists every week. Located in the south-eastern part of Malta the village has around 3200 inhabitants and in the past, most of the inhabitants worked as fishermen. The name Marsaxlokk comes from the word “marsa” which means port and the word “xlokk” which means south in Maltese.

Malta Property Auctioneers have just been commissioned for the sale of a beautiful property in this village. If a quiet, peaceful lifestyle, away from the hustle and bustle of the city, yet with a selection of lovely eateries and tranquil country walks is your kind of thing, then this one may just be the perfect home for you.

Regretfully for sale by a foreign family returning back to UK the property is an elevated maisonette enjoying its own entrance with only one other overlying abode. The property has been finished in a contemporary style and to high standards and has a warm and welcoming feel right upon entry. As seen in the above picture, the main living area is bright and spacious, enjoys an open plan-concept yet still sectional and comprises a fitted kitchen with breakfast bar finished with a marble top. This lovely space leads onto a 35 foot back yard, covered by a sail, ideal for entertaining, pets or a perfect area for children to stretch their legs and waste some energy.

A bonus feature of this property is another spacious room at the back of the yard ideal as a games room, 4th bedroom/ nanny flat, dog house, studio/study etc.

The three bedrooms are all spacious (2 double 1 twin) and both the ensuite bathroom as well as the main bathroom are modern and spacious. The property is completed by an underlying lock up garage and is truly located on a quiet street yet only a minute away from the waterfront and picturesque bay.

The guide price on this property is affordable and very realistic, in fact a number of viewing are taking place this weekend. If you wish to know more just click here

If you wish to be the first to know when new properties are listed on auction in Malta you can like our facebook page or register for our newsletter.

 

Malta Property Auctioneers is a sister company of Pierre Faure Real Estate – a leading estate agency in Malta & Gozo

Malte

Following our previous post, we asked one of our French interns to write a post about Malta. This is what they had to say after being here for a couple of weeks.

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Malte, petite ile située dans le bassin méditerranéen, regorge de magnifiques endroits à visiter qui pourront ravir tous les touristes du monde entier.

La Valette, l’une des principales villes de l’ile, qui deviendra en 2018 capital européenne de la culture est un endroit qui comporte de nombreux monuments historiques, et nombreuses petites rues où l’on peut déguster des pastizzi et gouter à la bière locale la Cisk. Au coeur de cette ville, on pourra y retrouver de nombreux magasins, cafés, restaurants qui font de La Vallette un endroit plaisant et vivant.

On retrouve un melting point de nationalites au coeur de la ville.

Sliema réside au coeur commercial et résidentiel de l’ile, c’est une ville idéale pour y faire son shopping, boire un coup en terrasses avec vue sur la mer. De Sliema on peut admirer la ville de La Vallette, ce dont les touristes ne se lasseront jamais.

St Julian’s est quant à elle, la ville du divertissement de l’ile. Avec ses nombreux hôtels, restaurants et boîtes de nuits branchees, la ville attire de nombreux touristes qui souhaitent faire la fête tout au long de la nuit.

L’avantage est que l’on pourra se déplacer de villes en villes facilement grace au réseau de bus impressionnant sur l’ile qui dessert pratiquement l’ensemble de l’ile. De plus, ces 3 villes ci-dessus ne sont pas si éloignées les unes des autres, quelques minutes de bus suffiront pour vous y rendre.

À Malte, il n’est pas difficile de trouver un appartement à louer ou même acheter. En effet, l’ile dispose de nombreux biens immobiliers qui n’attendent que d’être habite. Louer un appartement au coeur de Sliema et pouvoir se déplacer en bus, en voiture est à vous l’ile de Malte.

Il est tout aussi possible d’investir au Malte, nombreuses sont les maisons de caractères, des types mediterranneennes vus sur la mer et le point de La Vallette au niveau de la ville de Ta’Xbiex.

Enfin, pour les habitants de la métropole, ou ailleurs dans le monde qui souhaitent prendre leur retraite en bord de mer, avec de nombreux endroits à visiter comme le Blue Lagoon, ou encore la petite ile de Gozo, ne sera pas déçu de l’ile de Malte qui accueille tous les ans des milliers de visiteurs et qui rendent l’ile vivante et accueillante.

Written by Lucie Bourguignon whilst on internship with Pierre Faure Real Estate in Spring 2016

 

French Students in Malta for internship.

Every year Malta Property Auctioneers and Pierre Faure Real Estate welcome a small team of French students to complete an internship within our firms. It is compulsory for these students to complete an eight week work placement overseas as part of their university degree curriculum. The exercise is mutually beneficial to both parties. Whilst as a company we are given a much needed helping hand (yes for free ) during the busy Summer months, the students are gaining a wealth of experience by joining an office environment, where they are given several tasks & duties to complete.  Some of the duties include updating property availability by making direct contact with owners and landlords, attracting new clients by using various online and social media platforms, data inputting and updating, basic marketing and also finding new properties for sale or to let in Malta and Gozo.

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A rare opportunity to invest in the silent city of Mdina.

Tigne Point, Portomaso, Madliena, Fort Cambridge and the Sliema seafront are a few places that come to mind when people think of exclusive addresses in Malta. However, one of Malta’s most visited tourist attractions, the fortified and silent city of Mdina could easily be top of the list. The problem is that the stock of real estate in Mdina is extremely limited and very little ever comes on the open market as they are usually passed on from parents to children for years and years. One must keep in mind that Mdina is almost 4000 years ago and from its first years it was mainly built and inhabited by Noble families. – hence the nickname Citta Notabile!

For this reason, we at Malta Property Auctioneers are very excited to have been commissioned for the sale of No.3, Triq Mesquita, Mdina – For those who know Mdina well, Mesquita street enjoys the beautiful Mesquita square (pictured below), a most beautiful and tranquil pjazza housing the Mdina experience.

DSC_0100 (Small)Mesquita Square

Mdina is still fully inhabited and what surprises most visitors is the silence inside its walls especially at night. On an island stuffed to the brim with vehicles and traffic, the fact that cars aren’t usually allowed to get in is a major added bonus.  Mdina can offer the discerning client a lifestyle like no other with tranquility and safety galore coupled with a great selection of cafes, tearooms, winebars and restaurants all within a 2 minute walk.

So what about this property? –  While I am still trying to gather the history and date of this particular house, it doesn’t seem to be as old as some other properties within the walls. We are not talking a 400 year old house with flaky walls and arched ceilings surrounding a central courtyard. In fact the style is more reminiscent of your typical Sliema townhouse. A double door entry (anti-porta) welcomes you into a lovely hallway. Upon entering one will immediately notice that even though the house needs some T.L.C, or should I say modernizing, the condition is immaculate. All the original features such as an elegant staircase, beautiful and diverse patterned tiles in all the rooms, perfect  high ceilings held up by great quality wooden beams, all the original wooden apertures including shutters as well as your typical “Maltese” balcony are all extremely well kept and hardly need any attention.

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The layout is very accommodating. Off the hallway are 2 large rooms, ideal as living and dining. Another large room will make the perfect kitchen/breakfast with pantry and guest WC. All rooms lead onto a good sized back yard and provide ample light to the property. Upstairs are 2 large bedroom and a bathroom. The roof terrace is begging to be converted into a lovely roof garden overlooking a chapel cupola and with views of all the Mdina churches.

With minimal expense this property can be upgraded into a truly outstanding property in Malta, in a unique location and environment,

The property will be auctioned at our 31st Property Auction to be held in October 2016. The guide price is €625,000 to €675,000 and more detailed info and pictures can be found here.

A Successful 29th Property Auction

Malta Property Auctioneers Ltd. looking forward to their 30th Property Auction

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Malta Property Auctioneers held their 29th quarterly Auction last Saturday 30th January at the Royal Malta yacht Club. Another successful and satisfying auction for all the participants, both vendors and buyers with almost €6 million worth of property sold under the hammer.

“This was another pleasing event for us and we are really looking forward to launching our milestone 30th Auction. Nine years ago today we opened our doors and where a little skeptical whether the idea would take off in Malta. Today we are the smart choice for buying and selling real estate. So much so, that other names in the local Real estate scene are trying to dive into this more targeted business model.
“It was only a matter of time before others followed suit. In fact others have already tried and failed. It is very typical of the Maltese to take a good idea and try to make it their own, to see who is successful and try to steal their recipe, but we have been in business for nine years and we have established our own market niche. Besides, who wants to drink Star Cola when the original Coca Cola is sitting on the same shelf ??? “ – remarked Stefan Consiglio, when questioned about the hearsay that other property auctioneers where about to launch.
“To be a successful property Auctioneer one needs to have extensive knowledge in the local real estate market, an auctioneers licence and a team of highly trained sales agents – Our experience in real estate goes back over 30 years through Pierre Faure Real Estate. The other ingredient for a successful auction, is a large database of highly qualified investors together with an aggressive marketing campaign – both items we have been harvesting and perfecting bit by bit over the last 9 years as auctioneers.
“We are a company that keeps up with current trends in marketing and are always looking into the newest marketing mediums to get the best possible exposure for your property with the intention to sell it to the highest bidder within a short period of time by creating an environment of urgency. Our business model is a win-win situation for all parties and the results are there to be seen . Moreover we are always willing to work together on a commission sharing basis with other agencies or brokers making our sales force even larger – this way we do not close a window of opportunity to anyone but rather open doors to all – pun intended.”
Malta Property Auctioneers’ exact 30th Auction date will be announced shortly but will be held around April/May. We are currently in the process of putting another attractive portfolio of properties together so for those willing to sell their property fast and efficiently – now is the time!

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Malta Property Auctioneers – The only Property Auction house in Malta

In the past, auctions were a relatively uncommon way to negotiate the exchange of property in Malta. Today, we at Malta Property Auctioneers, a brainchild of Pierre Faure Real Estate, have become a household name, synonymous with offering property vendors a different marketing tool. Different because it gets your property sold in a much faster timeframe and with lower expenses.

Malta Property Auctioneers has revolutionized the real estate industry in Malta. We are now the smart choice for buying and selling unique real estate. In practice, haggling and negotiating and sales by set-price have always been significantly more common. Today however, Malta Property Auctioneers have proven that you can sell your property for the highest price and within the shortest period of time.

“We have modeled a process that focuses on creating maximum exposure for a property combined with the element of urgency and efficiency. This is what our sellers are attracted to. What we do really well is delivering what we say we will! – provide a detailed, aggressive and attractive marketing campaign for your property both locally and overseas and combining it with our knowledge, expertise in the local real estate market. We offer buyers the opportunity to purchase properties at values much lower than what they might be advertised at with agencies yet at the price they are willing to pay.

“Our business model is a win-win situation for all parties – the buyers, the sellers and even third party intermediaries, as we are always willing to work together on a commission sharing basis should a purchaser be introduced by another agency or broker.”

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Our next auction will be a milestone as it will be our 30th Auction and we are looking to offer our most exclusive portfolio yet. So what are you waiting for? If you own a luxury property in Malta and are tired of sitting around waiting for the “right” buyer to come along, give us a call now and let us show you the results we can achieve.

Stefan Consiglio – Manager – Malta Property Auctioneers

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www.propetyauctionsmalta.comwww.maltauctions.com www.maltapropertyauctions.com

#propertyauctionsmalta, #maltauctions, #maltapropertyauctions

2015/2016 Budget Measures related to Property in Malta

Pierre Faure Real Estate welcomes the budgetary measures related to the property sector announced by the government on the 12th October 2015.

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The main points covered in the budget included new laws with regards to first time buyers, tax on commercial letting and incentives for properties in Urban Conservation areas.

First-time property buyers:

Any resident of Malta that has never purchased a property will have no stamp duty to pay on the first €100,000 . Basically this is an exemption from the payment of duty on documents up to a maximum of EUR 5,000 on their first property. This will apply retrospectively for preliminary agreements entered into as from 1st July, 2015. Those first time buyers who have in the meantime entered into a preliminary agreement and final deed of sale after the 1st July, 2015 will be refunded the duty on documents they paid.

 This scheme has already proved extremely successful since it was introduced last year, boosting sales throughout all budgets and naturally giving a helping hand to lower earning individuals to get onto the property ladder.

Tax on Rental:

In 2015 the goverment announced that tax on residential letting will be reduced to 15%. This was well welcomed and a large amount of landlords registered their properties with the authrotities and declared their incomes.

In this years budget, complimenting the success of this lower rate in reduction, it has been announced that A 15% withholding tax shall also apply to rental income deriving from commercial properties or from property rentals to companies.

 Inheritance: 

The law shall be amended so that in cases were properties have been inherited and a minority of the heirs do not wish to sell such properties, the properties may be sold after 3 years if the majority of the heirs so wish. Once sold, these properties will be registered on the Land Registration Area register.

The main aim of this measure is to release dilapidated properties which cannot be sold due to family or inheritance disputes, reducing the amount of vacant homes, embellishing areas which look unpleasant due to neglect  and releasing more properties on the market without the need to construct them.

Special benefits for UCA’s

Purchasers of properties in Urban Conservation Areas shall benefit from a reduction in duty on documents to 2.5% instead of 5%,. Subject that the final contract of purchase is entered into between 1 January 2016 and 31 December 2016.

Urban Conservation Areas (UCAs) are important areas within the towns and villages in Malta with certain architectural value. These areas represent the identity of the various localities.  Again we feel that incentives to persons that regenerate old properties into their original former glory is a good measure that should release properties that are high in demand without the need for modern blocks

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On the same line, when a refurbished property in an Urban Conservation Area is re-sold, the Final withholding Tax shall now be reduced to 5%.

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Stefan Consiglio – Office Manager – Pierre Faure Real Estate & Malta Property Auctioneers

Attard Townhouse facade

The Perfect blend of Old & New – House of Character in Attard, Malta

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When  we at Pierre Faure Real Estate sold this house of character 3 years ago, it was in an awful dilapidated mess. We often took clients that wouldn’t even walk through the front door in fear of the ceiling collapsing on their heads. One particular client, however, who was tired of trying to find a home in Malta with a good finish at a fair price, decided that maybe a fixer-upper was the right choice of property for him.

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The features the Malta property had , or at least those that could be seen to the inexperienced eye, where a lovely courtyard leading onto a decent size (approx 80 sqm) garden. Apart from that, nothing in particular stood out, or at least, not in the mess and dust that engulfed the run down property. But the location was good, tucked away in a rather wide alley in one of the most sought after and quiet villages of Attard. After some convincing that the house truly had potential to be something outstanding, the sale was made.

3 years later, the owner contacted me to view his project – As I reached the address, I actually thought I was in the wrong place. The facade, now a typical townhouse totally restored to its former beauty and glory, was already unrecognizable. I couldn’t wait to get inside.

As soon as I entered the front door, I was absolutely gobsmacked. The conversion, done by a group of renowned local professionals was nothing but awe-some. I felt like I had never been to this location before. The entrance hall, with its magnificent high ceiling was overwhelmingly welcoming. The first room, one which i had myself explained will one day host a lovely TV room, was converted into the most elegant formal dining room. The central courtyard was gone and replacing it now is the most grand , bright and spacious , double height living room with more than enough space for a study, library and piano. Overlying this massive room is now the main bedroom, equally grand , bright and spacious with its own walk in closet and en-suite bathrooms as well as ample storage space.

The project itself, unearthed some amazing features, namely a carved stone dating back to the 1700’s and moreover, a lovely arched cellar which underlies half of the well landscaped garden – a perfect place to store wine.

What amazed me most about the house however, is the combination of the old walls and replica patterned tiles , wooden beams and arched doorways mixed with flat wallpapered walls, as well as the mix of tones and materials from granite to hardwood floors and an abundance of different textures all blending well and finished to the highest levels. The bathrooms, 3 in total are of topmost quality and the house enjoys loads of little nooks ideal for storage, one of which is your typical “birth room”. the apertures are large and flood the typical Maltese house with light

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“This place was top notch…and I wanted it on my books….”

3 months of persuasion down the line and the property is now listed exclusively for sale by auction with Malta Property Auctioneers with a Guide Price of €545,000 to €575,000. A very attractive guide price for a family home of this caliber especially with respect to its size, location, outside space, and standard of finish.

You can find more photos and an exact google map location herehttp://www.maltapropertyauctioneers.com/Home/Property?code=HC9308

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Is This The Right Time To Buy  a Property in Malta???

It always seems to be! Says Stefan Consiglio, Manager at Pierre Faure Real Estate.

 

For all those first time buyers, foreigners seeking Permanent Residency in Malta, investors looking to take advantage of the rapid increase in rental prices or homeowners that are just seeking to upgrade their home. YES, this is the time to buy!!

We all know that over time property will always appreciate. Ever since I started my career in the Real Estate field 13 years ago, I always recall hearing the negative people talking about a bubble about to burst. So far, this hasn’t happened here in Malta. Yes there might have been a year or two where the increase wasn’t as large as other years, but Malta has yet to see a property bubble burst, and to be honest, I still don’t see it happening any time soon.  Bank interest rates have remained relatively low for a few years now  and the rental market is still extremely healthy, with prices still on the rise and demand still higher than supply.

Malta is a tiny island with land a true scarcity, but moreover it is one of the most populated countries in the world per capita and thousands of foreigners are still moving here annually. Some move here because of the weather, others because of the culture or friendliness of the Maltese people, others cause of the language or schooling, tax reasons or of late, simply because Malta is the iGaming and finance hub of the world. The place to be if that is your line of work. Whatever the reason, an increase in people moving to Malta will always result in an increase in demand for homes in Malta. There is an extremely good choice of property out there and this is definitely helping to keep the value of homes more competitive.

 

Rental returns a decade ago were a mere 3 to 4 % and you always had some vacant time in between finding “the right tenants.” Today properties in prime areas are never left vacant for very long and the normal yield is 5% with opportunities to invest with better returns also possible. So what more can one ask for?

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Pierre Faure Real Estate has a number of Good Value homes to offer in Malta which can get much better returns than any other types of investment, and that is not even considering the capital appreciated on the property’s value over even a small number of years. So what are you waiting for?  Send us an email or give us a call and we will assist you throughout the whole transaction, from finding the right property to leasing it out to qualifies tenants at a good return.