Category Archives: Malta Related Pages

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.

What makes Malta special?

Malta is just a drop in an ocean. Yet what is any ocean but a multitude of drops? Lying at the very heart of the Mediterranean Sea, a few hours away from Europe and North Africa, Malta is signatory for economic, financial, maritime, transport and cultural matters.

The superb climate in Malta makes it ideal to have fun in the sun. Weather allows for outdoor sport and leisure activities, from swimming, yachting, sailing and diving in the blue waters to horse riding, or cycling and trekking in the countryside all year round. Alternatively, one can opt for total relaxation on one of the many sandy beaches found around the coast. Malta is in many ways vibrant and modern. Romance, nightlife, good food….you find it all here. Numerous events and festivals that tickle every taste bud and appeal to all ages are organized throughout the year.

In addition to this, Malta enjoys a healthy and safe environment with excellent educational facilities. The World Risk Report has named Malta, once again, as the world’s second safest country, the first on the list being Qatar, in terms of its exposure to and ability to cope with natural disasters. Malta is the safest place in Europe, having very low exposure to earthquakes, floods or rising sea levels and its society and infrastructure are well prepared to tackle such events should they come to pass. The country also boasts of close economic and cultural ties with neighbouring countries, north and south of the island.

Malta also boasts from economic, political and social stability. The more recent past, since independence in 1964, has seen the country develop its economy in an impressive way. Malta is becoming rapidly a regional hub for dynamic financial services, i-gaming and back-office services. It also enjoys excellent electronic communications and flight connections. Various sectors offer prolific investment opportunities such as pharmaceuticals, electronics, information communication technologies, agri-foods and precision engineering.

Let’s not forget that Malta possesses a growing professional class of highly trained, qualified, flexible and multilingual workforce. Maltese citizens own a good quality of education, leading to high productivity. The majority of the Maltese population is multilingual. It is fluent in Maltese, English and Italian, with the former two being both official languages. Some also have a good understanding of French, German, Arabic and other languages. Locals are also friendly, warm, lively and sometimes even noisy.

Leveraging all the above-mentioned aspects, it comes as no surprise that Malta is so fascinating and unique and many people from across the world wash up here. Surely an all-rounder destination.

Malta – a culinary delight!

Maltese cuisine is a delicious mixture of the gastronomy influences left behind by the successive conquerors of the islands of Gozo and Malta, such as Sicilian and British influences, as well as Arabic. Malta’s gastronomy, thanks to its location and landscape, is mainly rustic and based on season products and sea food, while other menus are dominated by meat dishes.

It is impossible to mention every yummy morsel the island has to offer but let’s mention some appetizing specialities. You cannot not taste the famous Pastizzi, fresh, hot, cheap and incredibly tasty Pastizzi, cheese or pea cakes in English. What about the Ħobż biż-Żejt, literally meaning ‘bread with oil’, or the Maltese Platter made of Fażola (butter beans in oil and garlic), Ġbejniet tal-bżar (peppered goat’s cheese), Bigilla (a dip made of mashed beans), Maltese sausage (a traditional spiced pork sausage), sundried tomatoes, and many other yummy nibbles. Look out for Lampuki Pie (dolphin fish pie), Rabbit StewBraġioli (beef olives), Kapunata, (Maltese version of ratatouille), and Soppa tal-Armla (widow’s soup).

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For the seafood lovers, fish is surely prominent on this wonderful island surrounded by the Mediterranean Sea. When fishermen get a good catch and fish is in abundance, you’ll find Aljotta (fish soup), Spnotta (bass), dott (stone fish), cerna (grouper), dentici (dentex), sargu (white bream), trill (red mullet), swordfish and tuna. Octopus and squid are very often used to make some rich stews and pasta sauces.

To finish off a Maltese meal try some tempting dessert delicacies such as the Kannoli (tube of crispy, fried pastry filled with ricotta), Ħelwa tat-Tork, (sweet sugary mixture of crushed and whole almonds), or Imqaret (deep-fried date cakes).

Let’s not forget that even drinking in Malta can be a wonderful experience. Some Maltese wines are excellent with main wineries offering guided tours and tastings. A most popular drink for tourists is the local refreshing beer named Cisk; truly an outstanding thirst-quencher. Other also popular local drinks are Hopleaf Pale and Blue Label Ale, as well as some local liqueurs like Anisette (from the aniseed) and Bajtra (from the prickly pear). However, the favourite drink in Malta remains Kinnie, found only in Malta. You absolutely have to try this slightly bitter, fizzy drink which tastes of orange and herbs.

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We promise you will love Maltese food. You just need to be open minded and willing to try new flavours, textures and tastes. So, when visiting Malta, make sure you leave behind your daily diet and dig into some of the incredibly vast good dishes that you can only eat on the Maltese islands.

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Malta Property Market

The property market in Malta was one of the few European markets that did not struggle during the recent recession. The outlook for Malta remained as sunny as ever. Whilst things were certainly difficult for many European countries with bank collapses, property market slumps and rises in unemployment, Malta, the little nugget wedged between North Africa and Sicily,  remained an exception due to a number of factors.

Malta is a small island with a very high population density, with land being very scarce and therefor always valuable. Moreover, unlike other islands, the Maltese market has a large drive of local buyers who have already enjoyed the fruits of their investments over time.

This tiny island has a lot going for it – besides its strategic position in the middle of the med, the island is sun kissed the whole year round, English speaking and very safe, even politically stable. For Brits, Malta is a delightful mix of the exotic and familiar, so it is no wonder they buy property in Malta and soon make it their second home. The schooling and medical facilities are of very high standard, and the fact that foreigners do not need to learn a foreign tongue makes it all the more appealing.

It is to no surprise that foreign buyers are up again in numbers – The Maltese government promotes foreign investment through a number of schemes which are very attractive to both EU and Non- EU nationals. Malta has always been loved by overseas buyers who get to enjoy the historical and cultural diversity the island offers through its past.

Buying property in Malta is a relatively easy process with various experienced agents available to point you towards the right direction and throughout the whole transaction.  The procedure for arranging loans and financing from local banks is not too onerous and those who chose to move here full -time will tend to find the low-tax regime makes life easy – not that Malta doesn’t already have a good quality of life.

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Pierre Faure Real Estate www.pierrefaure.com have been helping foreigners relocated to Malta for over 11 years with ample more experience in the property field. Any queries may be sent to stefan@pierrefaure.com

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

 

Malta property becomes less costly, as pound nears 16-month high

09.05.2014

One more great reason to buy a property in Malta! Malta property has fallen in price lately, as the pound has reached 1.2247 versus the euro, just shy of its highest in 16 months, or since January 10th 2013.

To put this into context, sterling was at just 1.1371 last March, meaning it’s since bounced back by almost 9 cents. Were you to transfer £125,000 to Malta to buy a property, you’d hence get an impressive +€10,688 more today than March 2013. Clearly, this puts your dream Malta property closer within reach!

Why has the pound jumped against the euro?

Sterling has neared this 16-month high versus the euro, chiefly because the UK economy is growing like there’s no tomorrow. For instance, just this week the OECD upgraded its 2014 growth forecast for the UK +0.8%, to a jaw-dropping 3.2%. This will make the UK the world’s fastest-growing major economy, hence boosting the pound.

At the same time, the euro has weakened of late, because the Eurozone faces the threat of Japanese-style deflation. This is where prices continually fall, which sounds nice, but leads to economic stagnation, as people keep putting off their shopping to see if things get cheaper. So that’s brought the euro low too!

Will the pound continue to climb?

Moreover, the pound looks set to exceed its 16-month high in the near future. This is because, with the UK economy fit and frisky, the Bank of England may soon become the first major central bank since the financial crisis to hike interest rates. This will send the pound yet higher, further cutting the cost of Malta property in 2014!

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About the writer

Peter Lavelle is an economist at foreign exchange broker Pure FX. To get free expert currency advice about the best time to transfer money to Malta, call him on +44 (0) 1494 671800 or email peter.lavelle@purefx.co.uk.

Summer in Malta

Summer in Malta?

One of the few places that come to mind when considering a summer trip, along with Mallorca, Ibiza, the Greek Islands and a couple more places is Malta. An island with fun and sun where temperatures between 25 to 35 degrees are almost guaranteed and you’re certain not to get bored!

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Holidaying in Malta is a good idea for many reasons besides the beautiful weather all year round. Malta is rich in culture and history, has a population that is multi lingual, enjoys some outstanding resorts as well as some of the best cuisine in the world and was voted as one of the safest places in the world as well as the best quality of life. Malta during the Summer becomes a place of many different types of activities, ranging from spending a lazy day at one of our many beautiful beaches, to an abundance of water sports and experiencing some of the best dive sites in the world to experiencing first hand any of Malta’s famous village feasts – there is one nearly every night!

Here’s what we suggest you do in Malta during the Summer..

1)      Visit as many of the beautiful beaches towards the north of the island as possible, mainly Golden Bay and Ghajn Tuffieha which are two beaches located right near each other or Mellieha Bay since it boasts shallow waters which make it perfect for families. If you intend on visiting Gozo, Malta’s sister island,  then visiting Ramla L-Hamra  – a definite must to witness it’s beautiful red sand. You must also visit Blue Lagoon due to its beautiful crystal clear blue waters since it’s only a quick boat ride away to Comino, the uninhabited sister island which is located in between Malta and Gozo.

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2)      Experiencing Malta by Sea is obviously a great idea as already obvious. We suggest chartering a boat for the day and going around the island, especially a visit to the Grand harbor or the remote Dingli Cliffs to the west. Try as many of the water sport activities available on the beaches already mentioned or if you’re less adventurous, grab a snorkel and mask and swim through all the beautiful old caves we boast on the Maltese Islands.

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3)      After a long day at the beach in the heat, we recommend that you visit one of the many brilliant restaurants along the Sliema / St. Julians front, one of the fish restaurants in Marsaxlokk or visit one of the many older style restaurants in the historical city of Valletta – a UNESCO world heritage city boasting some unique architecture.

4)      Throughout the summer, Malta becomes one of the coolest nightlife places in the world. People from all around Europe have realized that Malta’s partying scene has really grown throughout the years and hosts some of the world’s best dj’s and music artists coming to perform on our island at events such as “Isle of MTV” or “Creamfields” . There are other festivals such as Earth Garden, beer festival, Wine festival and Jazz festival which also make for a unique night out. Bars, Restaurants, Casinos and Night Clubs are in abundance, ranging from cheap, free entrance clubs to high end clubs such as “22” which is located at the top of the Portomaso Business Tower in the area of Paceville / St. Julians.

5)      Something else which is a must do in Malta in summer is visit one of the local village feasts. Nearly every village in Malta throws a feast for its locality once in summer. You can definitely expect loud bands, fireworks and church bells to be ringing throughout the night as people celebrate in the streets.

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6)      Visit Mdina – the silent city. Malta’s old capital is quaint and quiet, and traffic free. This fortified city is a true gem bursting with unique architecture and history. A walk through at night is definitely worth it and some of the restaurants enjoy spectacular views of the whole island, which complement the local wine very nicely.

7) Rent a farmhouse – Many agents in Malta offer the opportunity to live in a typical farmhouse. Rent a farmhouse with a pool in Malta & Gozo. The historical gems, sometimes dating to over 400 years old have been converted to accommodate the ever growing tourist industry on the island. Chill out in the sun by the pool with your favourite beverage and enjoy a relaxing holiday with the family in a typical Maltese abode.

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 Malta is ideal for all ages and there truly is something to do for everyone. Whats more, the island is pretty small and its easy to get around.

 

Brand new property websites for both Pierre Faure Real Estate and our sister company Malta Property Auctioneers.

We have spent the last few months brainstorming on how to service our purchasers and vendors better. Following our office move last month, to much larger Ta’ Xbiex offices, we focused our efforts on creating two brand new property websites for Pierre Faure Real Estatewho specialize in Sales & Rentals of up-market properties throughout Malta & Gozo and Malta Property Auctioneers, who specialize in selling property by Auction in Malta.

What we wanted are two fresh property portals, separate from each other but designed in a way that clearly indicate that both companies work hand in hand with each other. This is very important to us because we want our clients to know that the staff and team they trust at Pierre Faure Real Estate are the same team of professional and ethical members that work at Malta Property Auctioneers and vice versa.

Nowadays, the first thing one does when they are interested in renting or buying a property, home or rental investment is to go online and visit their favorite real estate agencies’ websites. They do this before communicating with the actual agency itself, so obviously, the property website is the first impression the client gets about the agency. We have worked on developing both websites to be as easy on the eye and easy to use as possible, since the last thing the client needs in today’s fast paced lifestyle is for a complicated property website. We have catered for simple search tools, with easy to sort results  together with larger images for better browsing.

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We have done our utmost to provide correct information, show large images and to make it as easy as possible for both locals as well as foreigners looking to relocate to Malta to understand all the different areas and luxury lifestyle developments in Malta, so that they may take a decision on where they want to purchase or rent, based on detailed and sound information. Our easy map tool should also help those who are not too familiar with where certain properties and village are located geographically.

We aim to use this blog to provide as much information as possible with property related news in Malta, such as new tax schemes and incentives that may come to practice from time to time.

We have been in the Real Estate business for over 25 years and have ample experience and knowledge about various parts of the industry. To remain at the top of the list of leading estate agents in Malta we now offer you the freshest real estate websites on the islands catering for both long term rentals as well as short let/ holiday homes in Malta. We hope you like the new designs and we are always open to listening to your feedback. Kindly send any comments to Justin@pierrefaure.com